STRIKE RESOURCES LIMITED — Capital/Financing Update 2020

Nov 30, 2020

Tuesday, 1 December 2020 ASX Code: SRK

ASX MARKET ANNOUNCEMENT

Section 708A Cleansing Statement – Issue of 40M Shares

NOTICE UNDER SECTION 708A(5)(E) OF THE CORPORATIONS ACT 2001 (CTH)

This Cleansing Statement has been prepared for the purposes of, and is being given in accordance with, the requirements of section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act).

Strike Resources Limited ACN 088 488 724 (Company) has issued 40,000,000 Fully Paid Ordinary Shares (Shares) (ASX:SRK) at a face value of $0.10 (10 cents) each to professional/sophisticated investors.1

The Corporations Act restricts the offer for sale of securities without a disclosure document unless the relevant sale satisfies an exemption set out in section 708 or 708A of the Corporations Act.

The Company seeks to rely on an exemption in section 708A(5) of the Corporations Act with respect to the secondary sale of the Shares.

In accordance with the requirements of section 708A(5)(e) of the Corporations Act, under which this notice is given, the Company confirms that:

• (1) The Company issued the Shares without disclosure to investors under Part 6D.2 of the Corporations Act, in reliance on section 708 and that notification is being given under section 708A(5)(e) of the Corporations Act.
• (2) As at the date of this notice:
  • (a) the Company, as a disclosing entity under the Corporations Act, has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and
  • (b) the Company has complied with section 674 of the Corporations Act.
• (3) As at the date of this notice, there is no information:
  • (a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and
  • (b) that investors and their professional advisors would reasonably require, and would reasonably expect to find in a disclosure document, for the purpose of making an informed assessment of:
    • (i) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; and
    • (ii) the rights and liabilities attaching to the Shares.

1 Refer also Strike's ASX market announcement dated 25 November 2020: Completion of \$4 Million Capital Raising

www.strikeresources.com.au

STRIKE RESOURCES LIMITED A.B.N. 94 088 488 724

Level 2, 31 Ventnor Avenue, West Perth, Western Australia 6005 T | (08) 9214 9700 F | (08) 9214 9701 E | info@strikeresources.com.au Dated: 1 December 2020

William Johnson Victor Ho

Managing Director Company Secretary

AUTHORISED FOR RELEASE - FOR FURTHER INFORMATION:

William Johnson Victor Ho Managing Director Company Secretary T | 0419 047 460 T | (08) 9214 9700 E | wjohnson@strikeresources.com.au E | vho@strikeresources.com.au

ABOUT STRIKE RESOURCES LIMITED (ASX:SRK)

Strike Resources Limited is an ASX listed resource company which is developing the Paulsens East Iron Ore Project in Western Australia. Strike also owns the high grade Apurimac Magnetite Iron Ore Project and Cusco Magnetite Iron Ore Project in Peru and is also developing a number of battery minerals related projects around the world, including the highly prospective Solaroz Lithium Brine Project in Argentina and the Burke Graphite Project in Queensland.

ABOUT PAULSENS EAST IRON ORE PROJECT

The Paulsens East Iron Ore Project (Strike 100%) is located in the Pilbara, Western Australia and comprises a 3km long outcropping ridge of high grade Direct Shipping Iron Ore (DSO). Strike is targeting production of 1.5Mtpa of Lump and Fines DSO for an initial mine life of 4 years, commencing in 2021.2

2 Refer Strike's ASX Announcement dated 30 October 2020: Paulsens East Feasibility Study Demonstrates Significant Cashflow Generation and Financial Returns - the Company confirms that all material assumptions underpinning the production targets and forecast financial information derived from the production targets in this announcement continue to apply and have not materially change