VERITY RESOURCES LIMITED — Capital/Financing Update 2017

Oct 25, 2017

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ASX:BML

ABN:

96 122 995 073

Issued Capital:

1,824,315,814 ordinary shares

Directors:

Mr Patrick Volpe (Chairman) Mr Steve Groves (Director/Geologist) Mr Josh Letcher (Non-executive) Mr Ed Bulseco (Non-executive)

Registered Office:

Suite 506, Level 5

1 Princess Street, Kew Victoria, Australia, 3101

Contact:

p: +61 (3) 9855 1885 e: info@botswanametals.com.au

About Botswana Metals

Botswana Metals is exploring for nickel, copper, cobalt, tantalum and lithium within its ~1,500 square kilometre exploration portfolio. These “new world” metals are becoming increasingly important as the world switches to cleaner sources of energy.

The company announced a maiden JORC Inferred Resource of 2.38Mt on 28[th] April 2015 from drilling within a small 185 square kilometre section of its exploration portfolio in which it had entered a joint venture with BCL. At the time cobalt was not included in the resource calculation.

Historical drilling outside of the joint venture ground has intercepted further nickel as well as significant intercepts of copper and cobalt.

A soil sampling program detected traces of lithium and tantalum which warrant further exploration.

Large tracts of BML’s exploration portfolio remain unexplored.

ASX ANNOUNCEMENT

26 OCTOBER 2017

NEW TIMETABLE FOR SPP AND PLACEMENT

Botswana Metals Limited (Company) refers to the Share Purchase Plan Offer Document (Offer Document) released to ASX on 13 October 2017.

The Directors have revised several key dates for the SPP and the Placement and the new timetable is as follows:

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DATE EVENT
7:00pm (AEST) on Record Date
7 September 2017 The date and time at which the Company determines
who is eligible to participate in the SPP.
8 September 2017 Announcement of SPP
12 October 2017 Lodgement of ASIC Class Order [CO 09/425] notice with
ASX
13 October 2017 Despatch of SPP Offer Booklet
13 October 2017 Opening Date for SPP
5:00pm (AEDT) on Closing Date for SPP
15 November 2017 Application Forms together with payment by cheque or
money order must be received by this time and date.
Note: BPAY payments must be received by 5:00pm
(AEDT) on 15 November 2017, which is when the BPAY
system closes on the Closing Date.
15 November 2017 Lodgement of Prospectus
Lodgement of Prospectus with ASX for offer of SPP
Options, any SPP Shortfall Options and Placement
Options ( Options Offers ). This Prospectus will also
contain other offers of Options with such Options being
on the same terms as the SPP Options.
15 November 2017 Despatch of Prospectus
15 November 2017 Opening Date for Options Offers
22 November 2017 Closing Date for Options Offers
27 November 2017 Annual General Meeting
The date and time of the Annual General Meeting at
which shareholder approval will be sought for the issue
of the Placement Shares, SPP Options, SPP Shortfall
Options and Placement Options.
28 November 2017 Issue Date
The date on which the SPP Shares, SPP Options, any SPP
Shortfall Shares, any SPP Shortfall Options, Placement
Shares and Placement Options are expected to be
issued.
29 November 2017 Trading Date
The date on which the SPP Shares, SPP Options, any SPP
Shortfall Shares, any SPP Shortfall Options, Placement
Shares and Placement Options are expected to begin
trading.
29 November 2017 Despatch Date
Transaction confirmations/holding statements will be
sent to shareholders for SPP Shares, SPP Options, any
SPP Shortfall Shares, any SPP Shortfall Options,
Placement Shares and Placement Options on or about
this date.
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Mr Patrick Volpe Chairman