Proposed issue of securities

Announcement Summary

For personal use only

Entity name

GOLDEN MILE RESOURCES LTD

Announcement Type

New announcement

Date of this announcement 21/3/2022

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

Maximum Number of

ASX +security code

+Security description

+securities to be issued

G88

ORDINARY FULLY PAID

28,571,428

G88O

OPTION EXPIRING 23-SEP-2023

14,285,714

Proposed +issue date

25/3/2022

Refer to next page for full details of the announcement

Proposed issue of securities

1 / 6

Proposed issue of securities

Part 1 - Entity and announcement details

For personal use only

1.1 Name of +Entity

GOLDEN MILE RESOURCES LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2

Registered Number Type

Registration Number

ACN

614538402

1.3

ASX issuer code

G88

  1. The announcement is New announcement
  2. Date of this announcement

21/3/2022

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

2 / 6

Proposed issue of securities

Part 7 - Details of proposed placement or other issue

only

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other

type of issue can proceed on an unconditional basis?

Yes

use

7A.1a Conditions

Approval/Condition

Date for determination

Is the date estimated or

** Approval

+Security holder approval

27/5/2022

actual?

received/condition met?

Estimated

Comments

Attaching options to be issued following and subject to shareholder approval.

personal

P rt 7B - Issue details

Is the proposed security a 'New

Will the proposed issue of this

class' (+securities in a class that is

+security include an offer of

not yet quoted or recorded by ASX)

attaching +securities?

or an 'Existing class' (additional

Yes

securities in a class that is already

quoted or recorded by ASX)?

Existing class

Details of +securities proposed to be issued

For

ASX +security code and description

G88 : ORDINARY FULLY PAID

Number of +securities proposed to be issued 28,571,428

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

Yes

Proposed issue of securities

3 / 6

Proposed issue of securities

In what currency is the cash consideration being paid?

AUD - Australian Dollar

What is the issue price per +security?

AUD 0.05600

only

Will these +securities rank equally in all respects from their issue date with

the existing issued +securities in that class?

Yes

Attaching +Security

use

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX)

or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)?

Existing class

Attaching +Security - Existing class (additional +securities in a class that is already quoted or recorded by ASX)

personal

Details of attaching +securities proposed to be issued

ASX +security code and description

G88O : OPTION EXPIRING 23-SEP-2023

Number of +securities proposed to be issued

14,285,714

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Free options attaching to placement shares.

For

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

0.012000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

Yes

Proposed issue of securities

4 / 6

Proposed issue of securities

Part 7C - Timetable

7C.1 Proposed +issue date 25/3/2022

only

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1?

No

use

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15%

placement capacity under listing rule 7.1?

Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15%

placement capacity under listing rule 7.1?

11,269,596 Shares

personal

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's

additional 10% placement capacity under listing rule 7.1A (if applicable)?

Yes

7D.1c ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's

additional 10% placement capacity under listing rule 7.1A?

17,301,832 Shares

7D.1c ( ii ) Please explain why the entity has chosen to do a placement rather than a +pro rata issue or an offer

under a +security purchase plan in which existing ordinary +security holders would have been eligible to

participate

Timing and cost considerations.

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue?

No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules?

No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow?

No

Part 7E - Fees and expenses

For

7E.1 Will there be a lead manager or broker to the proposed issue?

Yes

7E.1a Who is the lead manager/broker?

Sanlam Private Wealth Pty Ltd

Proposed issue of securities

5 / 6

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Golden Mile Resources Ltd. published this content on 20 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2022 00:07:03 UTC.