TRITON MINERALS LTD — Capital/Financing Update 2021

Dec 1, 2021

ASX Announcement 2 December 2021

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COMPLETION OF PARTIALLY UNDERWRITTEN ENTITLEMENT OFFER

RAISES $4.44M

Triton Minerals Limited (ASX: TON, Triton or Company ) is pleased to announce that the offers made pursuant to the Entitlement Prospectus dated 23 September 2021 successfully closed at 5:00pm on 30 November 2021 (WST). The Entitlement Offer was partially underwritten by Lazarus Corporate Finance Pty Ltd ( Underwriter ).

The Entitlement Offer allowed eligible shareholders as at the record date the opportunity to acquire four (4) shares for every nineteen (19) existing ordinary shares in the Company at a price of $0.041 per share ( New Shares ) with free attaching new options (ASX Code: TONO) on the basis of one (1) free attaching new TONO option for every one (1) New Share issued ( Entitlement Offer ). Each new TONO option has an exercise price of $0.09 and expires at 5:00pm (WST) on 31 December 2023.

The Entitlement Offer had acceptances from eligible shareholders totalling 19,234,937 New Shares and 19,234,937 new TONO options (representing 8.1% take-up) and raising $788,632 (before costs).

A total of 89,057,749 New Shares and 89,057,749 new TONO options will be placed in accordance with the terms of the amended Underwriting Agreement with the Underwriter announced on 12 November 2021, under which the Underwriter underwrote 105,609,756 New Shares and 105,609,756 TONO under the Entitlement Offer, being approximately $4.33 million. The additional shares over and above the partially underwritten amount will be placed as shortfall under the prospectus.

The New Shares and new TONO options are expected to be quoted on ASX (assuming a successful application for quotation) on 7 December 2021. The New Shares and new TONO options issued under the Entitlement Offer will rank equally with the Company’s existing fully paid ordinary shares and TONO options.

Commenting on the Entitlement Offer, Triton Executive Director Andrew Frazer said:

“Now that we have raised $4.4 million, Triton is in a strong position to progress the Commercial Pilot Plant at the Ancuabe Graphite Project and other initiatives to increase shareholder value. We look forward to keeping shareholders and the market updated frequently.”

This ASX release was authorised by the Board of Directors.

Enquiries

Mr Lloyd Flint info@tritonminerals.com +61 8 6381 9050 Contact Details (Australian Office) Level 1 34 Colin Street West Perth 6005

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