TURNSTONE RESOURCES LTD — Capital/Financing Update 2024

Mar 27, 2024

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ASX ANNOUNCEMENT

28 March 2024

PLACEMENT OF ENTITLEMENT OFFER SHORTFALL AND DEUSA DISCUSSIONS UPDATE

• Partial Entitlement Offer Shortfall placed raising a further A$496,915.

• Advanced commercial discussions with Ohmgebirge neighbour, Deusa, with respect to long-term shaft and infrastructure access and utilisation.

South Harz Potash Limited (ASX:SHP) ( South Harz or the Company ) is pleased to advise that it has successfully raised a further A$496,915 through the placement of the shortfall from its recently completed Entitlement Offer (21,605,000 shortfall shares at A$0.023 per share) (refer South Harz ASX release dated 28 February 2024, Completion of Entitlement Offer ) to a range of sophisticated and professional investors ( Entitlement Offer Shortfall ). The shortfall will be settled in 2 parts with 16,605,000 shares issued today and 5,000,000 shares issued next week.

The Entitlement Offer (inclusive of the Entitlement Offer Shortfall) has raised approximately A$1.1 million (before costs).

The Company is primarily directing the proceeds raised under the Entitlement Offer towards completion of the Pre-Feasibility Study ( PFS ) on South Harz’s flagship Ohmgebirge Potash Development ( Ohmgebirge ), which remains on schedule for finalisation during early Q2 2024.

Morgans Stockbroking acted as the Lead Manager for the Entitlement Offer Shortfall.

South Harz currently has a non-binding Memorandum of Understanding ( MoU ) in place with adjoining project and infrastructure owner, NDH-E/DEUSA International GmbH ( Deusa ), with respect to collaboration between the parties to allow South Harz to utilize Deusa’s Bernterode shaft infrastructure to advance the Ohmgebirge PFS and Spatial Planning Application on a brownfield pathway (refer South Harz ASX release dated 11 March 2024, MoU Executed for Existing Shaft and Infrastructure Utilisation ). The MoU also granted exclusivity to South Harz until 31 March 2024 to advance discussions towards a definitive commercial agreement with Deusa on long-term shaft and infrastructure access and utilization.

While the expiry of this exclusivity period is approaching, South Harz affirms that it remains in advanced commercial discussions with Deusa in respect of such access and utilization.

This ASX release has been approved by Managing Director, Luis da Silva.

Investor and media enquiries

Luis da Silva Michael Vaughan Managing Director and CEO Fivemark Partners South Harz Potash Ltd +61 422 602 720 info@southharzpotash.com michael.vaughan@fivemark.com.au

CONTACT DETAILS W: southharzpotash.com E: info@southharzpotash.com P: +61 (0) 408 447 493

ABN: 64 153 414 852 ASX Code: SHP ASX Code (Options): SHPO Frankfurt Code: A2DWXX

805.6 M Ordinary Shares 113.4 M Unlisted Options

U13, 6 – 10 Douro Place West Perth WA 6005

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About South Harz

South Harz Potash (ASX: SHP) ( South Harz ) is a potash exploration and development company with its flagship project located in the South Harz Potash District region of Germany, midway between Frankfurt and Berlin.

The South Harz Project hosts a globally large-scale potash JORC (2012) Mineral Resource estimate of 5 billion tonnes at 10.6% K2O of Inferred resources and 258 million tonnes at 13.5% K2O of Indicated Resources across four wholly-owned project areas located favourably within central Europe.[1] This comprises three perpetual potash mining licences, Ohmgebirge, Ebeleben and Mühlhausen-Nohra, and two potash exploration licences, Küllstedt and Gräfentonna, covering a total area of approximately 659km.

With strong established infrastructure proximate to the key European market, the South Harz Project is well positioned to enable rapid economic development across multiple deposits.

South Harz Potash: Growing a responsible potash business in the heart of Germany.

www.southharzpotash.com

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1. Refer to South Harz ASX release dated 12 July 2022 for full Mineral Resource estimate details. In accordance with ASX Listing Rule 5.23, the Company is not aware of any new information or data that materially affects the information included in this release, and the Company confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the estimates in these releases continue to apply and have not materially changed.

CONTACT DETAILS

805.6 M Ordinary Shares 113.4 M Unlisted Options

ABN: 64 153 414 852 ASX Code: SHP ASX Code (Options): SHPO Frankfurt Code: A2DWXX

U13, 6 – 10 Douro Place West Perth WA 6005

W: southharzpotash.com E: info@southharzpotash.com P: +61 (0) 408 447 493