SUREFIRE RESOURCES NL — Capital/Financing Update 2024

Oct 28, 2024

COMPANY UPDATE

Surefire Resources NL ("Surefire", or "the Company") is pleased to advise that it has entered into an agreement for a loan drawdownfacility of up to $500,000 with Vargas Holdings Pty Ltd, a company associated with Mr Vladimir Nikolaenko (the Company's Executive Chairman) as the lender. The proceeds of the facility will be used for general working capital purposes of the Company.

Details of the Loan Facility

• An initial tranche of up to $500,000 will be made available pursuant to one or more drawdown notices;
• An option for Surefire to increase the facility by up to an additional $250,000 subject to certain conditions, including if requested by the lender, to grant a security interest over its assets in respect of all amounts outstanding under the facility. The granting of the security is subject to shareholder approval or an ASX waiver from ASX Listing Rule 10.1;
• An interest rate of 14% per annum to accrue on advances made under the facility from day to day from the date on which the first advance is made; and
• All advances, together with all outstanding monies (including interest), must be fully and finally repaid 6 months from the date on which the first advance is made.

The remaining terms and conditions are considered by the Company to be standard for an agreement of this nature.

Whilst the entry into this facility agreement provides the Company with additional funding, the Board continues to consider further and alternative funding options for the Company's operations moving forward.

At-the-Market Extension and Collateral Share Increase

The Company has also agreed with Acuity Capital to extend the expiry date of its At-the-Market Subscription Agreement (previously referred to as a Controlled Placement Agreement) ("ATM") from 31 January 2026 to 31 January 2029.

As previously announced, the ATM was initially established with an expiry date of 31 December 2020 and provided Surefire with up to $2 million of standby equity capital. The ATM expiry date was subsequently extended to 31 January 2023, then further extended to 31 January 2026 and is now being extended to 31 January 2029. Surefire has to date not utilised the ATM to raise capital.

For more information on the ATM please see the Company's previous announcements on 26 October 2018, 29 October 2018, 30 November 2018, 1 February 2021 and 31 January 2023.

The Company has also agreed, subject to shareholder approval, to increase the number of shares held as security by Acuity Capital under the ATM. Approval will be sought at the next meeting of shareholders. If approved by shareholders, the Company will issue a further 80,000,000 shares to Acuity Capital at nil cash consideration, taking the number of shares held as security against the ATM to 100,000,000 ("Collateral Shares"). The Company may at any time cancel the ATM, including buying back and cancelling the Collateral Shares for nil cash consideration (subject to shareholder approval).

Please note there is no requirement on Surefire to utilise the ATM and there were no fees or costs associated with the extension of the ATM.

Authorised for ASX release by the Board

For further information, contact: Paul Burton, Managing Director: Tel: +61 8 6331 6330