VITA RESOURCES NL — Capital/Financing Update 2021

Mar 14, 2021

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11 March 2021

PRE-QUOTATION DISCLOSURE

Bastion Minerals Limited ACN 147 948 883 ( Company ) provides the following confirmations to satisfy the conditions for admission of the Company’s securities to quotation on the ASX.

Capitalised terms used in this announcement not otherwise defined herein have the meaning given to them in the Company’s prospectus dated 3 February 2021 ( Prospectus ).

1. Close of Offer

The Company confirms that the Offer made under the Prospectus has closed and that the Company has completed the issue of 25,000,000 Shares at an issue price of $0.20 per Share in accordance with the Offer under the Prospectus.

The Company also confirms the grant of 1,477,562 Options to Taycol Nominees Pty Ltd (the nominee of Taylor Collison) with an exercise price of $0.25 and an expiry date of 3 years after the date of issue.

2. Restricted securities

The Company confirms the following securities will be subject to restriction pursuant to the ASX Listing Rules for the period outlined below:

Class	Number	Restriction period
Fully paid ordinary shares	8,948,816	24 months from the date of quotation
Fully paid ordinary shares	1,000,000	From the date of quotation until 28 January 2022
Fully paid ordinary shares	3,000,000	From the date of quotation until 4 January 2022
Fully paid ordinary shares	125,000	From the date of quotation until 17 November 2021
Fully paid ordinary shares	125,000	From the date of quotation until 5 November 2021
Fully paid ordinary shares	1,000,000	From the date of quotation until 28 October 2021
Fully paid ordinary shares	2,225,000	From the date of quotation until 6 October 2021
Options over fully paid ordinary shares	7,477,562	24 months from the date of quotation

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Suite 221, 111 Harrington Street Sydney NSW 2000 ABN: 19 147 948 883 W: www.bastionminerals.com

11 March 2021

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The Company confirms that 17,545,319 fully paid ordinary shares are subject to voluntary escrow for a period of 12 months from the date of quotation (some of these Shares are also subject to restriction pursuant to the ASX Listing Rules).

3. Capital structure

The Company’s capital structure as at the date of admission is:

Security	Number
Fully paid ordinary shares	73,878,076
Options over fully paid ordinary shares	7,477,562

Authorised for lodgement by the board of Bastion Minerals Limited on 11 March 2021. For more information, please contact David Nolan, Company Secretary