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QUARTERLY ACTIVITIES REPORT

For period ending 30 September 2019

ABOUT MALI LITHIUM

Mali Lithium Limited (ASX:MLL) is developing

the world class Goulamina Lithium Project in

Mali, West Africa.

The Project is the largest uncommitted hard rock

lithium reserve in the world being 31mt at

1.56%Li2O.

The Project is fully permitted, with the Company

having received its’ Environmental Permit

approval in March 2019, and its Exploitation

(Mining) Permit approval in August 2019.

Mali Lithium has signed a Letter of Intent (LOI)

with Changsha/Minmetals Corporation of China

to discuss potential opportunities in EPC, offtake

and funding for the project.

Key metrics as at 18/09/2019:

Shares on issue: 317,348,112

Listed options on issue: 29,418,937

Unlisted Options on issue: 2,000,000

Cash: A$5.0M

Share price: 8 cents

Market capitalisation: A$25.4M

Mali Lithium Limited

ACN: 113 931 105

Unit 18, Spectrum Building 100 – 104 Railway

Road Subiaco WA 6008

T: +61 8 6149 6100

Highlights

Goulamina Lithium Project

• Operating (Mining) Permit awarded by Mali Government

making the project fully permitted

• Engineering and project delivery firm Lycopodium have

commenced the Definitive Feasibility Study (DFS)

• Outstanding Metallurgical test results showing improved

Lithium recovery >80%

Corporate

• Excellent support for renounceable entitlement issue resulted in

the post raising cash position of the Company being $5.04M with

further shortfall to be placed.

• MoU for Early Contractor Involvement (ECI) signed with China

Henan International Cooperation Group (CHICO)

• Strong cash position to unlock further potential in Malian Gold

and Lithium assets

• China Minmetals Corporation commenced testwork on

Goulamina ore at its laboratory in Changsha

Dankassa and Massigui Gold Projects

• Drilling program commencing in October 2019 to realise further

value on prospective gold tenements

• Total Royalty payments received from Barrick Gold A$4.46M

over the last 12 months

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HEALTH, SAFETY AND ENVIRONMENT

Mali Lithium recorded no Lost Time Injury (LTI) incidents at the Company’s operations during the third quarter. A

review of safety and operating procedures was conducted in preparation for the drilling program that commenced in

October 2019.

PERMIT STATUS

The Company was granted the Operating (Mining) permit by the Malian government on 26 August 2019, completing the

final regulatory hurdle for the Goulamina Lithium Project. The permit was granted under the 2012 Malian Mining Code,

covers the Company’s entire Torokoro Permit for the Exploitation of Lithium and has been granted for a period of thirty

(30) years, renewable in intervals of ten (10) years until depletion of the reserves within the permit area.

Applications were lodged for the second renewal of the: N’tiola (PR 15/715) and Finkola Sud (PR 13/672) Permits. As

part of the renewal of the N'tiola permit, a field visit was carried out at the request of the DNGM. A similar visit will take

place in the December quarter for the renewal of the Finkola Sud permit.

The Makono Renewal process is now complete and the Finkola renewal is expected shortly.

GOULAMINA LITHIUM PROJECT

During the Quarter the main focus has been on metallurgical testwork and de-risking the non process infrastructure and

logistics aspects of the project. The following outlines progress during the quarter and, where applicable, the direction

that the definitive engineering study (DFS) is heading.

Mineral Resources and Reserves

A drilling program will commence at Goulamina in early November. The main objectives are the expansion of inferred

resources, and the conversion of inferred resources within the current pit design, to indicated. Targeted drilling for

groundwater will also be undertaken during this campaign.

In addition, some drilling resources will be dedicated to exploring opportunities for expanding the size of the Resource

and Reserve as well as defining future exploration targets.

Metallurgical Testwork

Results have exceeded expectations with 80% overall recovery achieved from flotation testwork. Definitive flotation

work and variability testwork is now underway. This testwork has provided excellent indication that the 70% recovery

assumed in the PFS can be materially improved.

A representative bulk sample of Goulamina ore at a grade of 1.7% Li2O was reduced to -4mm top size using High Pressure

Grinding Rolls (HPGR) at the Nagrom laboratory in Perth. The crushed sample was then used for flotation testwork after

being ground to P80 of 106 microns.

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The first stage of the program was designed to establish baseline parameters to be used for optimisation, variability and

de-risking flotation testwork. Four different reagent schemes were selected for testing based on knowledge and experience

gained from similar operations.

Overall recovery is calculated by subtracting the lithium lost in the preparation and beneficiation processes (flotation,

mica removal, slimes and magnetic separation) from the total lithium in the initial feed. The flotation test results exceeded

expectations, producing concentrate grades exceeding 6% Li₂O at 90% flotation recoveries in the Rougher flotation stage,

resulting in approximately 80% recovery overall.

It has been proven that flotation efficiency is significantly improved when mica, magnetic material and slimes are

removed efficiently prior to the flotation process. Testwork is now targeting further improvements to overall recovery by

reducing lithium losses associated with these processes. A separate program of magnetic separation testing will be used

to identify and size the equipment most suited to the Goulamina deposit.

The program will be completed with variability and settling and filtration testwork for design and scale-up testing.

This testwork program to date has delivered a significant improvement on the 70% recovery achieved during the PFS and

suggests that ore from the Goulamina deposit can be beneficiated to produce a high-grade (6% Li2O) product while

achieving best in class recovery of contained lithium.

During the quarter, China Minmetals Corporation (Minmetals) subsidiary, the Changsha Research Institute of Mining

and Metallurgy (CRIMM) committed to commence testing ore from the Goulamina Lithium Project at its laboratory in

Changsha.

Minmetals is a Chinese Government-owned company valued at about US$470 billion with considerable research,

funding, offtake, engineering and construction capability. It has a long history of expertise in lithium processing and

product marketing through its specialist research facility and its subsidiary Hunan Changyuan Lico Co Ltd (Hunan).

Minmetals has completed extensive due diligence and analysis of the Goulamina Lithium Project, and Minmetal’s

expansion of our relationship is a big vote of confidence in the project.

Mining

A tender for contract mining services has been issued, with 5 of the 6 recipients due to present a tender submission in the

first week of November.

DFS Process Plant Engineering

During August a site visit was undertaken by key personnel from the MLL project team and the Lycopodium study team.

Work has now commenced on reviewing the process design and equipment sizing assumptions.

Non-Process Infrastructure

Accommodation

• A new permanent base has been acquired in Bougouni to house the geology team and visitors

• A tender was issued for the installation of a 12-man exploration camp, with submissions currently under evaluation.

• A preferred location for the permanent construction and operations camp has been identified. A 3G signal is achievable

in this location which offers potential savings on communications infrastructure

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Power

Discussions are underway with Energie Du Mali (EDM), the sole provider of electricity in Mali, to investigate

opportunities for the supply of power from the Hydroelectric power station located at Sélingué Dam. The energy situation

in Mali is constantly developing and it is likely that the current supply situation will change with the introduction of solar

power generation, with a number of proposals in place for the Sikasso region.

Regardless of these discussions, the mine will need its own independent power generation capacity. The study team has

met with a number of service providers and it has been determined that Build Own Operate (BOO) is preferable to an

owner-operation model and will not only reduce capital cost but will better suit the operational needs of the mine.

Stand-alone diesel generation is still an option under consideration, but, particularly with uncertainty over oil prices, it

has been determined that there are opportunities to reduce the life of mine cost per kWh by implementing either a solar

hybrid system or taking advantage of alternative fuels, such as LPG, which are becoming more prevalent in the region.

Water

Good progress has been made on developing a robust water management plan for the Project. Water for the processing

plant and supporting infrastructure will be drawn from several sources;

• A geophysical survey has been carried out at Goulamina and has identified several prospective targets for

groundwater. These targets are expected to be drilled and tested during the November drilling campaign. Subject to

the testing results, groundwater is likely to be the main source of water during construction.

• A report by AQ2 and supporting geotechnical testwork has demonstrated the viability of constructing two Surface

Water Run Off Facilities (SWROF). These facilities will harvest surface water run-off during the wet season, with

modelling work showing that based on average rainfall statistics and allowing for evaporation and seepage, they will

provide sufficient water for operations, assuming a 25-35% recovery of water from the plant’s tailings storage facility.

• Following detailed negotiations with the Director of Hydraulics for Sikasso and a resulting site visit, MLL has been

given approval to draw water from Sélingué Dam. Water will be pumped 29km from the dam to one of the SWROFs,

intermittently. The volume of water to be drawn will be determined by what is produced from bores and harvested

volumes. This agreement effectively de-risks the Project entirely in terms of water supply. An additional benefit of

installing this pipeline is that it will enable offtakes to be put in place to supply local villages with clean, treated water.

Logistics

Road Transport

Several options have been investigated for the transport and shipment of product from the Goulamina mine. Abidjan and

San Pedro in Côte d'Ivoire are the primary options. Dakar port in Senegal was also given consideration but dismissed due

to the distance and current condition of the roads.

MLL has carried out an assessment of all practical routes from the mine site to both Abidjan and San Pedro ports, with

an in-country logistics consultant driving each of the routes and producing detailed reports.

There is a major project underway to upgrade road infrastructure both in Mali and Côte d'Ivoire, funded by la Banque

Africaine de Development (BAD) with a budget of US$58m. This project was due for completion in December 2018 but

is estimated to be 2 years behind schedule. Additionally, the Côte d'Ivoire government is spending €1.8bn on upgrades to

the country’s road infrastructure. It is estimated that this project will be complete by the end of 2022.

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Regardless of these delays it is expected that, by the time Goulamina mine is in production, road infrastructure will not

be a major differential in selecting a port for shipment of product. The route user assessments will be re-run prior to a

final decision.

MLL has received firm stand alone pricing for transport of product from the mine to Abidjan port. The pricing per tonne

is in line with what was used in the PFS.

A major opportunity for the Project is the backloading of product. There are a number of operations that transport bulk

products, such as aggregates, from Abidjan port to Bamako in Mali with the trucks making the return trip empty.

MLL has had detailed discussions with a company that could potentially backload all of the concentrate produced at

Goulamina, based on the fleet of trucks it intends to commission to transport clinker for a new cement plant in Bamako.

This could significantly reduce transport costs.

Port Infrastructure

San Pedro port is 142km closer to the mine site than the shortest route to Abidjan. There are plans for major development

of port infrastructure in the coming years, but it is difficult to judge at what pace these developments will occur.

At present there are no existing facilities suitable for the bulk export of spodumene concentrate, but there is significant

potential for San Pedro to be an option in the short to medium term future. Further meetings have been organised with

the port authority and port service providers to discuss these options.

Abidjan port already exports both zinc concentrate and bauxite and is a much larger facility. MLL have visited the port

and have received a firm proposal for storage and ship loading services using existing facilities. There is also an option

to construct new facilities, including a shiploader, to increase efficiency of loading operations, at no capital cost to the

project.

Further opportunities pertaining to transport and logistics will be pursued over the coming months, prior to issue of the

DFS in the first quarter of 2020

DOWNSTREAM SCOPING STUDY

Post quarter, after receiving funds from the rights issue, the Company announced that it will be commencing a Scoping

Study into the downstream processing of the 6% Li2O product from its Goulamina Project. This is a stand alone study

that aims to add additional value by producing ‘intermediate’ Lithium products such as Lithium Sulphate or Lithium

Oxide that can then undergo final conversion to Lithium Carbonate or Hydroxide at existing conversion plants or new

facilities in, say Europe.

Global Engineering firm Hatch has been engaged to assist the Company in this study which is expected to take

approximately eight weeks to complete.

GOLD PROJECTS

The Company conducted an audit during the quarter on gold mined on the Viper and N’Tiola deposits by Barrick Gold

over the prior 12 months. The reconciliation matched with the royalty payments received by the Company and a thorough

understanding of the Morila Gold operation was developed during the audit.

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The Company announced that it intended to commence drilling on one of its gold tenements within the Massigui area, in

October 2019. The drill program will take approximately two weeks and is being completed by Capital Drilling, who

participated in the entitlement issue announced in September 2019.

Promising mineralisation has been detected during previous drilling campaigns at Koting and the Company intends to

build upon these previous positive results during the current campaign.

CASH POSITION

The company had $1.6 million of funds at 30 September 2019. On 18 September the Company announced the launch of

a Renounceable Rights Issue which closed on 10 October 2019, raising A$4.23 million before costs. The Company has

the ability to place the remaining shortfall of approximately A$1M over the next three months. Any shortfall will be

placed on the terms and conditions as set out in the prospectus lodged with the Australian Securities and Investment

Commission on 18 September 2019 (and for which the Shortfall Offer made under the prospectus remains open).

After all funds were received from the rights issue the cash position of the Company on 18 October 2019 was

A$5.04 million.

The increase in the company’s cash position is not reflected in the attached Appendix 5B as the shares were allotted after

the reporting date of 30 September 2019.

The capital structure of the Company post the Entitlement offer (10 October 2019) is set out below.

Listed Fully Paid Shares Number of shares on

issue

Share on issue at 30 September 2019 264,510,116

Share allotted on close of the entitlement offer 52,837,996

Share on issue on completion of Entitlement offer 317,348,112

Listed 15 cent Options with an expiry date of 17 October 2021 Number of Options on

issue

Listed Options on issue at 30 September 2019 Nil

Listed Options allotted on close of the entitlement offer 29,418,937

Listed Options on issue on completion of Entitlement offer 29,418,937

The company also has on issue 9,500,000 unlisted options. 7,500,000 of these options expired on 19 October 2019 and

notification of the cancellation of these options was issued to ASX on 21 October 2019.

Cash Movements for the quarter are tabulated below

A$ millions

Opening cash (1 July 2019) 2.6

Final receipt relating to gold royalty 0.5

Exploration and evaluation (1.1)

Staff costs (0.2)

Administration and corporate (0.2)

Closing Cash (30 September 2019) 1.6

Cash position 18 October 2019 post capital raising 5.0

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The final June Quarter receipt arising from the processing Viper and N’toila ore through Barricks Morila mine facility

(Morila Royalty) were settled in the current quarter giving rise to net proceeds of $0.5million. Mining and processing of

the Viper and N’toila ore was completed in the June quarter.

Quarter on quarter staff and administration costs continue to decline. The reduction of staffing costs reflects both the

reduction of staff / contractor numbers and the replacement of high cost contractors with permanent employees.

CORPORATE

Further consolidation of the Company operations occurred during the Quarter with a general trend for in house staff to

replace the previous heavy reliance on contractors. This serves the dual purpose of reducing costs and keeping Intellectual

Property within the Company.

The twelve month contract with Anand Sheth concluded during the quarter as well as the consulting agreement with Mark

Hepburn, who remains as an Non Executive Director with the Company.

Post quarter end, Mali Lithium signed a Memorandum of Understanding with major Chinese contractor China Henan

International Cooperation Group Co (CHICO) for an Early Contractor Involvement at the Goulamina Lithium Project.

As part of the MOU, CHICO will provide – at its own expense – Capital Expenditure and Operational Expenditure

estimates by the end of January 2020 that the Company can use to complement the DFS. CHICO is a vastly experienced

contractor in West Africa and will also provide a range of advice on early works at Goulamina.

Further Information:

Chris Evans

Managing Director

Mali Lithium

+61 419 853 904

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Permit Holdings and Location Southern Mali

Permit Holder Permit Location Project Permit Designation Permit Number

Birimian Gold Mali SARL

Within “circle” of Bougouni

Massigui Finkola PR 13/640

Massigui N’tiola PR 14/715

Massigui Diokelebougou PR 13/639

Within “circle” of Kati Dankassa

Makono

(Pending issue of

Arete)

PR 13/637

Timbuktu Ressources SARL

Within “circle” of Bougouni Massigui Finkola-Sud PR 13/672

Bougouni Torakoro PR 16/840

Within “circle” of Dioila Massigui Batouba Sud Application

Within “circle” of Kati Dankassa Sanankoroni PR 16/805

Sudquest SARL

Bougouni Finkola Nord Application Within “circle” of

Bougouni

Forward looking and cautionary statements;

This announcement contains “forward-looking information” that is based on the Company’s expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the pre-feasibility and feasibility studies, the Company’s business strategy, plan, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral resources, results of exploration and relations expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘likely’,’ believe’, ’estimate’, ‘expect’, ’intend’, ’may’, ’would’, ’could’, ’should’, ’scheduled’, ’will’, ’plan’, ’forecast’, ’evolve’ and similar expressions. Persons reading this announcement are cautioned that such statements are only predictions and that the Company’s actual future results or performance may be materially different Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as

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plans continue to be refined; future prices of lithium and other metals; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accident, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to or revise any forward-looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law. Statements regarding plans with respect to the Company’s mineral properties may contain forward-looking statements in relation to future matters that can be only made where the Company has a reasonable basis for making those statements. Competent Person Statements regarding plans with respect to the Company’s mineral properties are forward looking statements. There can be no assurance that the Company’s plans for development of its mineral properties will proceed as expected. There can be no assurance that the Company will be able to confirm the presence of mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company’s mineral properties.

Previously reported information

In accordance with Listing Rule 5.23, references to exploration results, estimates of mineral resources or ore reserves

have previously been announced, including the information required under Listing Rule 5.22, in the following

announcements:

• "18.06.29 Danaya Mineral Resource Upgrade" dated 29 June 2018

• "High Grade Maiden Ore Reserve for Goulamina" dated 4 July 2018

• “Update on Koting Gold Exploration Activities” dated 12 September 2018

• “Update on Airborne Magnetic and Radiometric Results” dated 28 September 2018

The Company confirms that it is not aware of any other new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

In accordance with Listing Rule 5.19, information relating to production targets or forecast financial information have been previously disclosed on 4 July 2018 in the announcement entitled ‘Goulamina Updated PFS Delivers Strong Project Outcomes.’’ The Company confirms that all the material assumptions underpinning the Production Target and the forecast financial information derived from the Production Target in the original announcement continue to apply and have not materially changed.

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

+ See chapter 19 for defined terms 1 September 2016 Page 1

+Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16

Name of entity

Mali Lithium Limited

ABN Quarter ended (“current quarter”)

11 113 931 105 30 September 2019

Consolidated statement of cash flows Current quarter $A’000

Year to date (9 months) $A’000

1. Cash flows from operating activities

1.1 Receipts from customers

1.2 Payments for

(1,123) (3,864) (a) exploration & evaluation

(b) development

(c) production

(d) staff costs (182) (752)

(e) administration and corporate costs (180) (1,824)

1.3 Dividends received (see note 3)

1.4 Interest received 1 13

1.5 Interest and other costs of finance paid

1.6 Income taxes paid

1.7 Research and development refunds

1.8 Other (Morila royalty) 515 2,736

1.9 Net cash from / (used in) operating activities

(1,427) (3,691)

2. Cash flows from investing activities

(4) (52)

2.1 Payments to acquire:

(a) property, plant and equipment

(b) tenements (see item 10)

(c) investments

(d) other non-current assets

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

+ See chapter 19 for defined terms 1 September 2016 Page 2

Consolidated statement of cash flows Current quarter $A’000

Year to date (9 months) $A’000

2.2 Proceeds from the disposal of:

(a) property, plant and equipment

(b) tenements (see item 10)

(c) investments

(d) other non-current assets

2.3 Cash flows from loans to other entities

2.4 Dividends received (see note 3)

2.5 Other (provide details if material)

2.6 Net cash from / (used in) investing activities

(4) (52)

3. Cash flows from financing activities

391 3.1 Proceeds from issues of shares

3.2 Proceeds from issue of convertible notes

3.3 Proceeds from exercise of share options

3.4 Transaction costs related to issues of shares, convertible notes or options

(158)

3.5 Proceeds from borrowings

3.6 Repayment of borrowings

3.7 Transaction costs related to loans and borrowings

3.8 Dividends paid

3.9 Other (provide details if material)

3.10 Net cash from / (used in) financing activities

- 232

4. Net increase / (decrease) in cash and cash equivalents for the period

2,571 5,117 4.1 Cash and cash equivalents at beginning of

period

4.2 Net cash from / (used in) operating activities (item 1.9 above)

(969) (3,691)

4.3 Net cash from / (used in) investing activities (item 2.6 above)

(4) (52)

4.4 Net cash from / (used in) financing activities (item 3.10 above)

- 232

4.5 Effect of movement in exchange rates on cash held

(3) (11)

4.6 Cash and cash equivalents at end of period

1,595 1,595

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

+ See chapter 19 for defined terms 1 September 2016 Page 3

5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts

Current quarter $A’000

Previous quarter $A’000

5.1 Bank balances 1,595 2,571

5.2 Call deposits

5.3 Bank overdrafts

5.4 Other (security bonds) 112 112

5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)

1,707 2,683

6. Payments to directors of the entity and their associates Current quarter $A'000

6.1 Aggregate amount of payments to these parties included in item 1.2 122

6.2 Aggregate amount of cash flow from loans to these parties included in item 2.3

6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

7. Payments to related entities of the entity and their associates

Current quarter $A'000

7.1 Aggregate amount of payments to these parties included in item 1.2

7.2 Aggregate amount of cash flow from loans to these parties included in item 2.3

7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

+ See chapter 19 for defined terms 1 September 2016 Page 4

8. Financing facilities available Add notes as necessary for an understanding of the position

Total facility amount at quarter end

$A’000

Amount drawn at quarter end

$A’000

8.1 Loan facilities

8.2 Credit standby arrangements

8.3 Other (please specify)

8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

9. Estimated cash outflows for next quarter $A’000

9.1 Exploration and evaluation 2,313

9.2 Development

9.3 Production

9.4 Staff costs 227

9.5 Administration and corporate costs 336

9.6 Other (anticipated R & D refund) (362)

9.7 Total estimated cash outflows 2,515

Note – The company completed a Renounceable Entitlement offer on 18 October 2019 raising an additional $4.2 million which is not reflected in the closing cash position in this Appendix 3B.

10. Changes in tenements (items 2.1(b) and 2.2(b) above)

Tenement reference and location

Nature of interest Interest at beginning of quarter

Interest at end of quarter

10.1 Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced

10.2 Interests in mining tenements and petroleum tenements acquired or increased

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

+ See chapter 19 for defined terms 1 September 2016 Page 5

Compliance statement

1 This statement has been prepared in accordance with accounting standards and policies which

comply with Listing Rule 19.11A.

2 This statement gives a true and fair view of the matters disclosed.

Sign here: Date: .30 October 2019 (Director/Company secretary)

Print name: Eric Hughes

Notes

1. The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.