STRIKE RESOURCES LIMITED — Capital/Financing Update 2020

Jun 21, 2020

Monday, 22 June 2020 ASX Code: SRK

ASX MARKET ANNOUNCEMENT

Engenium Appointed to Complete Paulsens East Feasibility Study

Strike Resources Limited (ASX:SRK) (Strike) is pleased to confirm that it has appointed engineering and project delivery consultancy Engenium to manage and oversee the completion of the Feasibility Study for Strike's Paulsens East Iron Ore Project (Project).

Engenium has an excellent reputation in Australia for project delivery, with core strengths in Project Management, Engineering, Procurement and Construction Management services. Engenium has extensive experience in helping Australian companies bring iron ore projects into production with a breadth of capability that extends across the complete logistics chain from mine to ship.

Strike Managing Director William Johnson"

"Strike is fast-tracking development of Paulsens East during 2020 to take advantage of strong iron ore prices. The appointment of Engenium will greatly assist Strike in rapidly advancing the Project through Feasibility Stage and towards production".

AUTHORISED FOR RELEASE - FOR FURTHER INFORMATION:

William Johnson T | 0419 047 460

Managing Director E | wjohnson@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%) (Project) is located in the Pilbara, Western Australia and comprises a 3km long outcropping ridge of high grade Direct Shipping Iron Ore (DSO). Strike has completed a Scoping Study1 on the Project and is targeting production of 1.5Mtpa of Lump and Fines DSO for an initial mine life of 4 years, commencing in the fourth quarter of 2020.

• 9 April 2020: Revised Scoping Study for Utah Point, Port Hedland Supports Excellent Project Economics for Paulsens East Iron Ore Project
• 25 March 2020: Utah Point, Port Hedland Considered as Preferred Port Option for Paulsens East Iron Ore Project
• 28 November 2019: Excellent Scoping Study Results for Paulsens East Iron Ore Project
• 4 September 2019: Significant Upgrade of JORC Mineral Resource into Indicated Category at Paulsens East Iron Ore Project

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 E | info@strikeresources.com.au

1 Refer also SRK's ASX Announcements dated: