Finders Resources : Confirmation of Release - 31 December 2018 Annual Financial Statements

FINDERS

RESOURCES

LIMITED

ABN 82 108 547 413

ANNUAL FINANCIAL STATEMENTS 31 DECEMBER 2018

ANNUAL FINANCIAL STATEMENTS 31 DECEMBER 2018

Corporate Directory

ANNUAL FINANCIAL STATEMENTS DECEMBER 2018

Table of Contents

Directors' Report

Remuneration Report

Auditors Independence Declaration

Consolidated Statement of Comprehensive Income for the year ended 31 December 2018 Consolidated Statement of Financial Position as at 31 December 2018

Consolidated Statement of Changes in Equity for the year ended 31 December 2018

Consolidated Statement of Cash Flows for the year ended 31 December 2018

Notes to the Consolidated Financial Statements for the Year Ended 31 December 2018

Directors' Declaration

Independent Audit Report

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ANNUAL FINANCIAL STATEMENTS 31 DECEMBER 2018

Directors' Report

Your Directors present their report on Finders Resources Limited ("Company") and its controlled entities ("the Group") for the year ended 31 December 2018.

Directors

The names, qualifications, experience, responsibilities and interest of Directors during the financial year and up to the date of this report are:

Colin Moorhead - Non-Executive Chairman (appointed 3 April 2018)

Australian nationality, 54, appointed as Director of the Company in April 2018. An experienced mining professional, he is recognized for multi-achievements in the mining industry, including building safe, successful and highly regarded technical teams, ability to develop and deliver strategy, culture and governance; a thorough understanding of the technical, legal and commercial aspects of the mining business with an exposure to many different cultures and operating environments. Also recognized as a leader in the areas of health, safety, environment and community.

Mr. Moorhead is currently an Executive Director at Merdeka Copper Gold. Prior to Merdeka Copper Gold he served as EGM Minerals, Newcrest Mining Ltd, Australia (2008- 2015), GM Resources & Reserves of the same company (2006-2008), Geology Manager, PT Nusa Halmahera Minerals, Gosowong Gold Mine, Indonesia (2003- 2006), Technical Services Manager, Cadia Holdings Ltd, NSW, Australia (1997-2003), and various other positions in the mining industry in a career spanning 32 years since 1987.

He graduated with a Bachelor of Science degree (Honours) in geology and geophysics from the University of Melbourne, Australia, in 1986, and participated in the Advanced Management Program of Harvard Business School, Boston, MA, USA.

Mr. Moorhead was elected as President of the Australasian Institute of Mining and Metallurgy (AusIMM) for 2017- 2018.

Other listed company Directorships in last three years:

§PT. Merdeka Copper & Gold Tbk

David Fowler - Chief Executive Officer (appointed 3 April 2018)

Australian nationality, 51, appointed as the Director of the Company in April 2018 as CEO. Mr. Fowler has had more than 25 years of professional experience in the mineral resources industry with expertise in finance, operations and development. He started with the Public Accounting Firm of Arthur Andersen in Perth, Australia, and went on to pursue a career in the mining business, serving in various managerial capacities with Eltin Limited and Western Metals Limited, both in Australia, then with Orusur Mining Incorporated in Canada.

He earned Bachelor of Business degree from Curtin University, Australia, in 1986, and a Post Graduate Diploma in Finance and Investment from the Securities Institute of Australia in 2003.

Other listed company Directorships in last three years:

§PT. Merdeka Copper & Gold Tbk

§Sumatra Copper & Gold Plc

ANNUAL FINANCIAL STATEMENTS DECEMBER 2018

Directors' Report

Gavin Caudle - Non-Executive Director (appointed 15 August 2013)

Mr Caudle (BCom) has over 25 years' experience in the finance and investment sectors in Australia, Singapore and Indonesia. He was previously a partner in the Arthur Andersen Jakarta office and Country Head of the Investment Bank, Salomon Smith Barney, for Indonesia. Since 2003, together with his partners, Mr Caudle has developed numerous successful businesses including Tower Bersama Group (a telecommunications infrastructure business), Provident Agro (a plantation business) and Merdeka Copper & Gold with assets valued at more than $3 billion. Mr Caudle is Chairman of the Audit Committee and a member of the Remuneration and Nomination Committee.

Other listed company Directorships in last three years:

§Sihayo Gold Limited

§Sumatra Copper & Gold Plc

§PT. Merdeka Copper & Gold Tbk.

Gordon Galt - Non-Executive Director (appointed 22 August 2013)

Mr Galt is a mining engineer (BE (Mining), B.Comm, Grad Dip Finance, MAusIMM, MAICD) and resources financier with over 40 years' experience. He is a Principal of Taurus Funds Management. Mr Galt is a member of the Audit Committee and a member of the Remuneration and Nomination Committee.

Other listed company Directorships in last three years:

§Delta SBD Ltd (resigned 1 July 2016)

§Realm Resources Limited

§Nucoal Resources Limited

§Lefroy Exploration Limited

Mark Sherman - Non-Executive Director (appointed 3 April 2018)

Mr Sherman is a technical director with 36 years' experience, predominantly in the operation, management and optimization of copper-gold operations. He is an internationally recognized specialist in grinding circuit design and operation, mill liner and grate design, and circuit optimisation. Mr Sherman is Fluor's comminution subject matter expert and a Fluor Fellow.

Mr Sherman has worked on BHP projects including Escondida (copper, Chile) and Spence (copper, Chile), on Rio Tinto's Oyu Tolgoi operation (copper-gold, Mongolia), AMNT's Batu Hijau operation (copper-gold, Indonesia), Ok Tedi Mining Limited's Ok Tedi concentrator, Evolution Mining's Cowal operation (gold, Australia), and Glencore's Antapaccay operation (copper, Chile). He has been published extensively, particularly in relation to comminution technology. Mr Sherman has not held any other listed company directorships in the last three years.

Roderick Webster - Non-Executive Director (appointed 3 April 2018)

Mr Roderick Webster is a mining engineer (University of Sydney) with over 45 years of experience in the resources industry including more than 16 years as MD/CEO of publicly listed companies. He is currently the non-executive Chairman of Riversgold Ltd (ASX) a gold exploration company active in Australia and Alaska.

From 2005 to 2015 Mr Webster was a founding Director and CEO of Weatherly, a company engaged in copper mining and smelting in Namibia. Between 2001 and 2005 Mr Webster was a senior executive with First Quantum Minerals Ltd, a Canadian listed company developing copper mines in Zambia and Mauritania. Mr Webster was also the founding Director and CEO of Western Metals Ltd, a major Australian base metals producer during which time he served on the executive committee of the International Zinc Association. Earlier in his career Mr Webster held

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