Walkabout Resources Limited ('the Company') is pleased to advise that it has executed a non-binding, conditional Term Sheet in favour of Lindi Jumbo Limited from the African Export-Import Bank ('Afreximbank').

The debt facility is for an amount of US$25m.

While the facility Term Sheet (T.S.) has a number of conditions precedent before it becomes binding, the Company notes that this T.S. has already received initial bank approval. Further approvals will be required in conjunction with satisfying outstanding conditions precedent.

Afreximbank1, is a pan-African multilateral trade finance institution created in 1993 under the auspices of the African Development Bank. It is headquartered in Cairo, Egypt. Afreximbank's vision is to be the trade finance bank for Africa.

The debt facility is proposed to be secured by the Lindi Jumbo assets and supplemented by suitable credit insurance already identified by the company. The loan has an 18-month grace period before repayments commence and a term of 7 years to finalise.

Walkabout Executive Director Allan Mulligan commented; 'We have been working with the Afreximbank team on securing the funding for the Lindi Jumbo Project for some time and are very pleased that the application has now received initial approval. Each of the development banks we have been working with recognise the outstanding economics of the Lindi Jumbo graphite project and benefits it will bring to our local community. There is already some price tension emerging in the natural flake graphite market and we are working towards the world class Lindi Jumbo mining reserve being able to deliver into that.'

Pareto Securities ('Pareto') continues to apply its significant international in-house skill set in advising the Company during this transaction.

FORWARD LOOKING STATEMENTS

This report contains certain forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside of the control of Walkabout Resources Ltd or Lindi Jumbo Limited. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay, approvals and cost estimates. Actual values, results or events may be materially different to those contained in this announcement. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this announcement reflect the views of Walkabout Resources Ltd only at the date of this announcement. Subject to any continuing obligations under applicable laws and ASX Listing Rules, Walkabout Resources Ltd does not undertake any obligation to update or revise any information or any of the forward looking statements in this announcement to reflect changes in events, conditions or circumstances on which any forward looking statements is based.

About WKT

Walkabout is developing the high-grade Lindi Jumbo Graphite Project in South East Tanzania to take advantage of forecast market conditions for Large and Jumbo flake graphite products. The Company holds 100% of a Mining Licence and between 70% and 100% of adjacent graphite prospecting licences at Lindi Jumbo with an enduring option to acquire the remaining 30% share. A high-grade graphite Mineral Reserve has been delineated within the Mining Licence area.

Contact:

Tel: +61 8 6298 7500

Email: admin@wkt.com.au

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