SULTAN RESOURCES LTD — Capital/Financing Update 2019

Mar 10, 2019

Sultan Resources Ltd

ACN: 623 652 522

CORPORATE DETAILS

ASX Code: SLZ

DIRECTORS

STEVEN GROVES MANAGING DIRECTOR

JEREMY KING CHAIRMAN

ASX ANNOUNCEMENT

11[th] March 2019

LINCOLN HO NON-EXECUTIVE DIRECTOR

ARIEL EDWARD KING NON-EXECUTIVE DIRECTOR

CONTACT

ENTITLEMENT ISSUE: SHORTFALL NOTICE

Suite 2, Level 1, 1 Altona Street West Perth WA 6005 www.sultanresources.com.au

Sultan Resources Limited (ASX:SLZ) (“Sultan” or the “Company”) advises that the pro-rata non-renounceable loyal offer (“ Loyalty Offer ”) announced to the ASX on 15th February 2019, closed on the 6 March 2019.

The Loyalty Offer offered eligible shareholders registered on the Record Date the ability to subscribe for one (1) new share (“ New Share” ) for every two (2) existing shares held, at an issue price of $0.005 (0.5 cents) per share raising up to $79,376 (less costs of the Loyalty Offer).

Total applications for the New Shares raising gross proceeds of $73,850.94 were received. The New Shares will be issued, as per the timetable for the Loyalty Offer.

The results of the Loyalty Offer as follows;

• Number of New Shares: 14,770,177

• Shortfall: 1,104,920

• Total Number of New Shares: 15,875,097

In accordance with the Loyalty Offer document, the directors reserve the right to place any shortfall at their discretion. Xcel Capital Pty Ltd and ARQ Capital Pty Ltd were appointed Joint Lead Managers (“ JLM ”) to the Loyalty Offer and shortfall offer. The directors in consultation with the JLM’s have three months after the closing date of the offer being the 6 June 2019 to place shortfall should they elect to do so.

For and on behalf of the Board,

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Mauro Piccini Company Secretary