Aeris Resources Limited (ASX: AIS) (Aeris or the Company) is pleased to announce the successful completion of the retail component (Retail Entitlement Offer) of its fully underwritten 1 for 4.22 pro-rata accelerated non-renounceable entitlement offer (Entitlement Offer) of new shares (New Shares), which was announced on Wednesday, 28 April 2022.

This follows the successful completion of the institutional component of the Entitlement Offer announced on 2 May 2022. Under the Retail Entitlement Offer the Company will raise approximately $25.6 million through the issue of approximately 247.4 million New Shares at $0.105 per New Share and was supported by existing eligible retail shareholders, who have made applications to take up approximately 5.4% of total entitlements.

In addition, applications totalling approximately $0.165 million were received from eligible retail shareholders in respect of New Shares under the Retail Entitlement Shortfall Facility. Approximately 234,113,430 million New Shares that were not applied for by eligible retail shareholders in the Retail Entitlement Offer or allocated under the Retail Entitlement Shortfall Facility will be allocated to the Underwriters (and where applicable, any sub-underwriters) of the Entitlement Offer. Each New Share issued under the Retail Entitlement Offer will rank equally with existing Aeris shares on issue. New Shares under the Retail Entitlement Offer are expected to be allotted on 23 May 2022 and trading on a normal settlement basis is expected to commence on the ASX the next business day. Holding statements are expected to be despatched on 24 May 2022.

Contact:

Mr. Andre Labuschagne

Tel: +61 7 3034 6200

Web: www.aerisresources.com.au

This announcement is authorised by the Board of Aeris Resources Limited All dollar amounts are in Australian dollars unless otherwise indicated. This announcement may contain certain statements and projections provided by or on behalf of Aeris Resources Limited with respect to the anticipated future undertakings. These forward-looking statements reflect various assumptions by or on behalf of Aeris. Accordingly, these statements are subject to significant business, economic and competitive uncertainties and contingencies associated with the mining industry which may be beyond the control of Aeris which could cause actual results or trends to differ materially, including but not limited to price and currency fluctuations, geotechnical factors, drilling and production results, development progress, operating results, reserve estimates, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries, approvals and cost estimates, environmental risks, ability to meet funding requirements, share price volatility. Accordingly, there can be no assurance that such statements and projections will be realised. Aeris makes no representations as to the accuracy or completeness of any such statement of projections or that any forecasts will be achieved.

Additionally, Aeris makes no representation or warranty, express or implied, in relation to, and no responsibility or liability (whether for negligence, under statute or otherwise) is or will be accepted by Aeris or by any of their respective officers, directors, shareholders, partners, employees, or advisers as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this announcement or any omission from this announcement or of any other written or oral information or opinions provided now or in the future to any interested party or its advisers. In furnishing this announcement, Aeris undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in Aeris.

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