S2 RESOURCES LTD — Capital/Financing Update 2024

Jun 16, 2024

ASX Announcement

17 June 2024

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TRANSACTION WITH PACIFIC STATE METALS TERMINATED S2 TO RETAIN FRASER RANGE AND WEST MURCHISON PROJECTS

S2 Resources Ltd (“S2” or the “Company”) advises that it has received notice from Pacific State Metals (Holdings) Ltd (“Pacific State”) that owing to adverse market conditions, Pacific State has been unable to complete an Initial Public Offering by the agreed date of 30 June 2024. As a result of this, Pacific State and S2 have agreed to terminate the agreement entered into in August 2023 (see S2 ASX announcement of 7 August 2023), effective immediately.

Consequently, S2 will retain ownership of the tenements which comprise the West Murchison and Fraser Range projects, and the Company’s equity ownership in Pacific State will cease, as per the terms of the agreement.

In light of this, the Company is reviewing its exploration plans to unlock the intrinsic value that these prospective projects offer.

This announcement has been provided to the ASX under the authorisation of the S2 Board.

For further information, please contact:

Mark Bennett Executive Chairman +61 8 6166 0240

Level 14, 333 Collins Street, Melbourne, VIC 3000, Australia. PO Box 143 Kingsway, WA 6065, Australia ABN 18 606 128 090 T +61 8 6166 0240 F 61 8 6270 5410 E admin@s2resources.com.au W www.s2resources.com.au