TURNSTONE RESOURCES LTD — Capital/Financing Update 2020

Jun 8, 2020

ASX ANNOUNCEMENT 9 June 2020

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DAVENPORT APPOINTS DELOITTE AS FINANCIAL ADVISOR

Davenport Resources Ltd (ASX: DAV, “Davenport”, “The Company”) is pleased to announce the appointment of Deloitte Corporate Finance Inc. (“Deloitte”) as its financial advisor as it continues discussions to develop its portfolio of European potash projects.

Davenport is aiming to secure strategic partners to advance the development of its portfolio of at least four standalone potash projects in the South Harz region of Germany, and has completed positive technical studies for three projects. It is focused initially on the development of the Ohmgebirge project. The Ebeleben and Nohra-Elende projects are larger projects with world-scale potential and the Company is continuing discussions with potential project partners and other stakeholders.

Davenport has executed an agreement with Deloitte to act as its financial advisor for a six-month term, during which Deloitte will provide support with assessment, planning and strategy; marketing; and negotiation, due diligence and closing.

Davenport interim Chairman Dr. Reinout Koopmans said: “Our appointment of Deloitte demonstrates another step in our progress as we seek suitable development partners for our potash projects. Securing project partners will allow us to advance toward feasibility studies to validate the results of the positive technical studies we have already completed for three of the projects. We expect to start working on drilling for the Ohmgebirge project this year.”

The appointment of Deloitte as its financial adviser follows Board changes announced in May 2020 and the appointment of Cenkos Securities as its UK broker. It is the latest step in the Company's work to ensure it is best placed to attract potential partners to help support development of its projects.

Investor & Media Enquiries

Dr Reinout Koopmans Nathan Ryan Interim Non-Executive Chair Managing Director Davenport Resources Ltd NWR Communications +44 7810 056502 +61 420 582 887 rkoopmans@davenportresources.com.au nathan.ryan@nwrcommunications.com.au

CONTACT DETAILS W: davenportresources.com.au E: info@davenportresources.com.au P: +61 (08) 6145 0291

ABN: 64 153 414 852 ASX Code: DAV ASX Code (Options): DAVO Frankfurt Code: A2DWXX

172.5 M Ordinary Shares 13.4 M Unlisted Options 46.2 M Listed Options 5.9 M Performance Rights

Level 1, 675 Murray Street, West Perth WA 6005 PO Box 1088 - West Perth WA 6872