TASMAN RESOURCES LTD — Capital/Financing Update 2020

Jun 23, 2020

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ACN 009 253 187
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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

24 JUNE 2020

PRO-RATA NON-RENOUNCEABLE RIGHTS ISSUE

Tasman Resources Ltd ( Tasman ) intends to undertake a non-renounceable pro-rata rights offer to Tasman shareholders to raise up to (if fully subscribed) approximately $1,478,019 (the Offer ). The Offer will be open to all Tasman shareholders who are on the register as at 5:00pm WST on 10 July 2020 (the Record Date ) and who have a registered address in Australia or New Zealand.

Under the Offer, Tasman will make an offer to all eligible shareholders of one (1) fully paid ordinary Tasman share for every ten (10) fully paid ordinary Tasman shares held as at the Record Date, at a price of $0.028 per share, together with one (1) free attaching Tasman option for every two shares issued under the Offer (each to acquire one fully paid ordinary Tasman share at an exercise price of $0.05 per share at any time up to and including three years after their date of issue).

It is anticipated that the Offer will be partially underwritten, with the underwritten amount being 33.829% of any shortfall, which is equivalent to a maximum partial underwriting of approximately $500,000 of the total amount of $1,478,019 that would be raised under this Offer if fully subscribed.

The anticipated Timetable* for the Offer is as follows:

Offer announcement	24 June 2020
Lodgement of Prospectus at ASIC	6 July 2020
Lodgement of Prospectus and Appendix 3B with ASX	6 July 2020
Ex date	9 July 2020
Record Date for determining entitlements	10 July 2020
Prospectus despatched to Qualifying Shareholders	15 July 2020
Closing date of the Offer	31 July2020
If agreed by ASX, securities quoted on a deferred settlement basis	3 August 2020
Announcement of results of Rights Issue	5 August 2020
Issue Date and Appendix 2A lodged with ASX (end of any deferred
settlement trading), dispatch of holding statements	7 August 2020

*The above dates are indicative and subject to change

The funds will be used to fund forthcoming exploration at the Company’s Pernatty IOCG prospect in South Australia, for general working capital, to support the Company’s investments and to repay a short-term interest free loan made to the Company by an entity related to one of its directors, which entity in turn has agreed to sub-underwrite 60% of the partially underwritten shortfall.

Level 15, 197 St Georges Terrace, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866 Email: mailroom@tasmanresources.com.au

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Gregory H Solomon Chairman

This announcement was authorised by the above signatory. For any queries regarding this announcement please contact Greg Solomon on +618 9282 5889.

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