SUREFIRE RESOURCES NL — Capital/Financing Update 2023

Nov 13, 2023

NOTICE TO INELIGIBLE SHAREHOLDERS Re NON-RENOUNCEABLE RIGHTS ISSUE

Dear Shareholder

As you may be aware, Surefire Resources NL (ASX:SRN) (SRN or the Company) is undertaking a pro-rata non-renounceable entitlement offer of one (1) fully paid ordinary share (New Shares) for every eight (8) shares held by eligible shareholders at the Record Date (defined below) at an issue price of A$0.011 each to raise up to A$2,621,785, together with one (1) free-attaching option (exercisable at A$0.019 and expiring on 30 November 2026 (New Options)) (Entitlement Offer). Holders of the 70,000,000 contributing shares that are partly paid to A$0.0001 (with A$0.0059 unpaid) are entitled to participate in the Entitlement Offer as if those holders held fully paid ordinary shares. A total of up to 238,344,136 New Shares and up to 238,344,136 New Options will be issued pursuant to the Entitlement Offer (assuming no shares are issued prior to the Record Date, other than the shares issued pursuant to the placement as announced on 3 November 2023 (Placement), and that all entitlements are taken up ).

The Entitlement Offer is being made to all shareholders of the Company named on its register of members at 5:00pm (AWST) on 13 November 2023 (Record Date) whose registered address is in Australia or New Zealand.

The Entitlement Offer is being offered to shareholders under a Prospectus which was lodged with ASIC and ASX on 3 November 2023. All New Shares issued will rank equally with existing shares on issue.

Funds raised under the Entitlement Offer and Placement are planned to be used to develop the Victory Bore and the High Purity Alumina Projects, for continued exploration on and development of the Company's other 100% owned West Australian projects, and for general working capital purposes. If, in the view of the Board, circumstances present as appropriate, funds will also be allocated to assess, and if applicable, acquire, further projects.

Ineligible shareholders

According to our records, your holding of shares in the capital of the Company is through an entity with a registered address outside of Australia or New Zealand.

A shareholder who has a registered address outside of Australia and New Zealand will not be eligible to participate in the Entitlement Offer (Ineligible Shareholder).

You are not eligible to participate in the Entitlement Offer and you will not be sent a copy of the Prospectus. This decision has been made pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules after taking into consideration the costs of complying with legal and regulatory requirements in jurisdictions outside of Australia and New Zealand compared with the small number of Ineligible Shareholders and the number and value of New Shares and New Options to which they would otherwise be entitled under the Entitlement Offer.

This letter is to inform you about the Entitlement Offer, the details of which are provided above, and is not an offer to issue shares to you, nor an invitation for you to apply for New Shares and New Options. You are not required to do anything in response to this letter.

Thank you for your ongoing support of the Company and, if you have any questions in relation to the above, please do not hesitate to contact me on +61 (0) 478 573 935.

Yours faithfully

Rudolf Tieleman Company Secretary