VERITY RESOURCES LIMITED — Capital/Financing Update 2017

Oct 11, 2017

ASX
ANNOUNCEMENT 12
OCTOBER
2017

==> picture [159 x 46] intentionally omitted <==

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.

**COMPANY

UPDATE
AND
SPP
CLEANSING
NOTICE**

**Drill

program**

The
drill
program
at
PL
111/94
announced
to
the
ASX
on
13
August
2017
is continuing.
Samples
from
the
first
8
holes
out
of
the
18
hole
program
have
been sent
to
SGS,
an
independent
laboratory
in
South
Africa,
for
analysis.
It
is
expected that
results
from
these
samples
will
be
received
by
the
end
of
October.
The
visual inspection
of
RC
percussion
drill
chips
has
confirmed
intersections
of
malachite and
chalcocite
for
potential
copper
and
silver
mineralisation
(refer
ASX announcement
released
on
18
September
2017).

The
SGS
laboratory
results should
confirm
the
extent
of
any
copper
and
other
mineralisation.
The
Company last
drilled
the
area
in
2011.
The
drill
program
will
be
completed
in
the
December quarter
and
all
further
results
received
by
the
end
of
the
December
quarter.

**Consultancy

agreement
–
Mr
P
J
Volpe**

Subject
to
the
passing
of
resolutions
at
the
Annual
General
Meeting
of
the Company
in
November
2017,
Mr
P
J
Volpe
will
resign
as
Executive
Chairman
of
the Company
and
from
the
Board
of
Directors
following
the
AGM
to
pursue
other exploration
ventures.
The
Company
will
retain
the
benefit
of
Mr
Volpe’s
expertise and
experience
by
engaging
him
as
a
consultant
directly
or
through
his consultancy
company
for
a
period
of
six
months
for
a
fee
of
$10,000
per
month (plus
GST).

In
addition,
subject
to
shareholder
approval,
the
Company
will
issue Mr
Volpe
or
his
consultancy
company
8M
options
(on
a
pre-­‐consolidated
basis) exercisable
at
$0.00125
(0.125
cents)
each
expiring
on
1
July
2021.

**Issue

of
options
subject
to
shareholder
approval**

The
Company
will
seek
shareholder
approval
at
the
Annual
General
Meeting
to issue
a
total
of
24M
options
(on
a
pre-­‐consolidated
basis)
to
Directors
(other
than Mr
P
J
Volpe)
and
10M
options
to
a
contractor
exercisable
at
$0.00125 (0.125
cents)
each
expiring
on
1
July
2021.

**Change

of
company
name**

Subject
to
shareholders
passing
the
required
special
resolution
at
the
Annual General
Meeting,
the
name
of
the
Company
will
be
changed
to
SIX
SIGMA
METALS LIMITED.
The
new
name
has
been
reserved
with
ASIC.

**Share

purchase
plan**

The
Company
refers
to
its
ASX
announcement
released
8
September
2017 regarding
the
Share
Purchase
Plan
(“SPP”)
to
be
offered
to
shareholders
with
a registered
address
in
Australia
or
New
Zealand.

The
SPP
enables
eligible shareholders
to
apply
for
new
fully
paid
ordinary
shares
at
an
issue
price
of $0.00082
(0.082
cents)
per
new
share.
The
offer
of
shares
under
the
SPP
will
be made
without
a
Prospectus
or
Disclosure
Document
in
reliance
on
ASIC
Class Order
[CO
09/425].

In
addition,
subject
to
shareholder
approval,
applicants
under
the
SPP
will
receive one
(1)
free
attaching
option
for
every
three
shares
subscribed,
with
an
exercise price
of
$0.00125
(0.125
cents)
and
an
expiry
date
of
1
July
2021.
If
shareholder approval
is
not
obtained,
no
options
will
be
issued
and
applicants
will
not
receive a
refund
of
any
of
their
application
money
nor
will
they
be
entitled
to
be
paid
any compensation
by
the
Company.

The
options
will
be
issued
under
a
Prospectus which
will
be
lodged
with
ASIC
and
ASX
in
due
course.

==> picture [186 x 687] intentionally omitted <==

The
Company
reserves
the
right
not
to
proceed
with
the
whole
or
part
of
the
SPP at
any
time
prior
to
the
issue
of
the
new
shares
and,
if
the
SPP
does
not
proceed, application
monies
will
be
refunded
in
full
without
interest.

**Cleansing

Notice**

Notice
is
given
under
paragraph
7(f)(ii)
of
ASIC
Class
Order
[CO
09/425]
that:

• (a) the
  Company
  will
  make
  offers
  to
  issue
  shares
  under
  a
  Share
  Purchase
  Plan without
  disclosure
  to
  investors
  under
  Part
  6D.2
  of
  the Corporations
  Act
  2001 (“the
  Act”);
  and

• (b) this
  notice
  is
  given
  in
  accordance
  with
  ASIC
  Class
  Order
  [CO
  09/425];
  and

• (c) as
  at
  the
  date
  of
  this
  notice,
  the
  Company
  has
  complied
  with:

• (i) the
  provisions
  of
  Chapter
  2M
  of
  the
  Act
  as
  they
  apply
  to
  the
  Company; and

• (ii) Section
  674
  of
  the
  Act;
  and

• (d) as
  at
  the
  date
  of
  this
  notice,
  there
  is
  no
  excluded
  information
  (in
  accordance with
  the
  requirements
  of
  subsections
  708A(7)
  and
  (8)
  of
  the
  Act)
  as
  if
  this notice
  were
  a
  notice
  under
  paragraph
  708A(5)(e)
  of
  the
  Act.

**Mr

Patrick
Volpe Chairman**

**Competent

Person**

The
information
in
this
report
that
relates
to
Exploration
Results
is
based
on,
and fairly
represents,
information
and
supporting
documentation
compiled
by
BML staff
on
site
and
provided
to
Mr
Steve
Groves
who
is
a
Member
of
The
Australian Institute
of
Geoscientists.
Mr
Groves
is
Director
of,
and
a
consulting
geologist
to BML
and
has
previously
been
employed
as
the
Exploration
Manager
at
BML.
Mr Groves
has
sufficient
experience
which
is
relevant
to
the
style
of
mineralisation and
type
of
deposit
under
consideration
and
to
the
activity
which
he
is undertaking
to
qualify
as
a
Competent
Person
as
defined
in
the
2012
edition
of the
“Australasian
Code
for
Reporting
of
Exploration
Results,
Mineral
Resources and
Ore
Reserves”.

Mr
Groves
consents
to
the
inclusion
in
this
report
of
the matters
based
on
his
information
in
the
form
and
context
in
which
it
appears.