Australian Mines : Revised Entitlement Offer timetable and Prospectus

For personal use only

Australian Mines Limited

ABN 68 073 914 191

ASX | AUZ

Level 34, 1 Eagle Street,

Brisbane, Queensland 4000

T + 61 7 3184 9184

E [e-mail]

W australianmines.com.au

24 May 2022

Australian Securities Exchange

20 Bridge Street

Sydney NSW 2000

ASX RELEASE

REVISED ENTITLEMENT OFFER TIMETABLE

Australian Mines Limited (ASX: AUZ) (AUZ or the Company) refers to its announcement made yesterday concerning a $3.7m placement and commencement of a $3.7m Entitlement Offer with Indicative Timetable.

The timetable for the Entitlement Offer has been revised as set out below. The timetable for the placement remains unchanged.

Timetable*

Event	Date
Trading Halt	Friday, 20 May 2022
Announcement of the Entitlement	Tuesday, 24 May 2022
Offer, lodgement of Appendix 3B,
lodgement of prospectus
Trading on an ex-entitlement basis	Thursday, 26 May 2022
Entitlement Offer Record Date	Friday, 27 May 2022
Retail Entitlement Offer prospectus	Tuesday, 31 May 2022
dispatched and Retail Entitlement Offer
opens
Retail Entitlement Offer closes	5:00pm, Friday, 10 June 2022
Securities trading on a deferred	Tuesday, 14 June 2022
settlement basis
Announcement of results of	Friday, 17 June 2022
Entitlement Offer and shortfall

AUS TR ALIAN MINES LIMITED | 1

For personal use only

• Note: The dates set out in the timetable above are indicative only and are subject to change without notice. Any change in the timetable does not affect the rights or obligations an investor or shareholder has as a result of accepting an allocation in the Placement or the Entitlement Offer.

A prospectus concerning the Entitlement Offer is attached.

ENDS

For more information, please contact:

David Loch

Investor Relations Manager Australian Mines Limited [phone] [e-mail]

Authorised for release by the Board of Directors of Australian Mines Limited

Australian Mines Limited supports the vision of a world where the mining industry respects the human rights and aspirations of affected communities, provides safe, healthy, and supportive workplaces, minimises harm to the environment, and leaves positive legacies.

AUS TR ALIAN MINES LIMITED | 2

For personal use only

Appendix 1: Forward Looking Statements

This announcement contains forward looking statements. Forward looking statements can generally be identified by the use of forward looking words such as, 'expect', 'anticipate', 'likely', 'intend', 'should', 'could', 'may', 'predict', 'plan', 'propose', 'will', 'believe', 'forecast', 'estimate', 'target' 'outlook', 'guidance', 'potential' and other similar expressions within the meaning of securities laws of applicable jurisdictions.

Any forward looking statement is included as a general guide only and speak only as of the date of this document. No reliance can be placed for any purpose whatsoever on the information contained in this document or its completeness. No representation or warranty, express or implied, is made as to the accuracy, likelihood or achievement or reasonableness of any forecasts, prospects, returns or statements in relation to future matters contained in this document. Australian Mines does not undertake to update or revised forward looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by applicable law and stock exchange listing requirements.

To the maximum extent permitted by law, Australian Mines Limited and its Associates disclaim all responsibility and liability for the forward looking statements, including, without limitation, any liability arising from negligence. Recipients of this document must make their own investigations and inquiries regarding all assumptions, risks, uncertainties and contingencies which may affect the future operations of Australian Mines Limited or Australian Mines Limited's securities.

AUS TR ALIAN MINES LIMITED | 3

For personal use only

AUSTRALIAN MINES LIMITED

ABN 68 073 914 191

PROSPECTUS

For an Offer of one New Share and one New Option for every 13.38 Shares held at an issue price of $0.115 per New Share by way of a Non Renounceable Rights Issue to raise approximately $3.7 million before costs (Offer).

The Directors have advised that they will take up their full Entitlement under the Offer.

This Prospectus has been prepared for the purposes of section713 of the Corporations Act.

Important Notice

This document is important and should be read in its entirety (including the 'Risk Factors' in section 4)

before deciding whether to apply for New Shares. If after reading this Prospectus you have any questions about the New Shares being offered under this Prospectus or any other matter, then you should consult your stockbroker, accountant or other professional adviser.

The New Shares offered by this Prospectus should be considered speculative.

personal use only

IMPORTANT NOTES

This Prospectus is dated 24 May 2022 and a copy of this Prospectus was lodged with the ASIC on that date. ASIC, ASX and its officers, respectively, take no responsibility for the contents of this Prospectus or the merits of the investment to which this Prospectus relates. No securities will be allotted or issued on the basis of this Prospectus later than 13 months after the date of this Prospectus. The Company will apply to ASX for the New Shares and New Options to be granted quotation on ASX. The fact that ASX may quote the New Shares and New Options is not to be taken in any way as an indication of the merits of Australian Mines.

The Offer is not available to the general public and is only available to Shareholders on the Record Date.

This Prospectus does not constitute an offer in any place in which or to any person to whom it would not be lawful to make such an offer.

No action has been taken to lodge this Prospectus in any jurisdiction outside of Australia or New Zealand or to otherwise permit a public offering of Rights or New Shares and New Options in any jurisdiction outside Australia or New Zealand. This Prospectus is not to be distributed in, and no offer of New Shares and New Options is to be made in, countries other than Australia or New Zealand.

Neither the Rights, nor New Shares and New Options have been or will be registered under the US Securities Act of 1933 and may only be offered, sold or resold in, or to persons in, the United States in accordance with an available exemption from registration.

It is the responsibility of Applicants to ensure compliance with any laws of a country relevant to their application. Return of a duly completed Entitlement and Acceptance Form will be taken by Australian Mines as a representation that there has been no breach of such laws, that the Applicant is

an Eligible Shareholder and that the Applicant is physically present in Australia.

No person is authorised to give information or to make any representation in connection with this Prospectus which is not contained in the Prospectus. Any information or representation not so contained may not be relied on as having been authorised by the Company in connection with this Prospectus.

Applicants should rely on their own knowledge of the Company, refer to disclosures made by the Company to the ASX and consult their professional advisers before deciding whether to accept the Offer. Announcements made by the Company to ASX are available from the ASX website at http://www.asx.com.au/. The information in this Prospectus does not constitute a securities recommendation or financial product advice.

In making representations in this Prospectus regard has been had to the fact that the Company is a disclosing entity for the purposes of the Corporations Act and certain matters may reasonably be expected to be known to investors and professional advisers whom potential investors may consult.

This Prospectus including each of the documents attached to it and which form part of this Prospectus is important and should be read in its entirety prior to making an investment decision. If you do not fully understand this Prospectus or are in any doubt as to how to deal with it, you should consult your professional adviser.

In particular, it is important that you consider the risk factors in section 5 that could affect the performance of the Company before making an investment decision.

Some words and expressions used in this Prospectus have defined meanings which are explained in section 6.

For

IMPORTANT DATES

Event	Date
Announcement of the Entitlement Offer, lodgement of Appendix	Tuesday, 24	May 2022
3B, lodgement of prospectus
Trading on an ex-entitlement basis	Thursday, 26		May 2022
Entitlement Offer Record Date	Friday, 27	May 2022
Retail Entitlement Offer prospectus dispatched and Retail	Tuesday, 31		May 2022
Entitlement Offer opens
Retail Entitlement Offer closes	5:00pm, Friday, 10	June 2022
Securities trading on a deferred settlement basis	Tuesday, 14	June 2022
Announcement of results of Entitlement Offer and shortfall	Friday, 17	June 2022

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