AVZ Minerals Limited (ASX: AVZ) ('AVZ' or 'Company') is pleased to announce it has entered into an At-the-Market Subscription Agreement (ATM) with Acuity Capital.

The ATM provides AVZ with up to $50,000,000 of standby equity capital over the coming 27 months.

Importantly, AVZ retains full control of all aspects of the subscription process, having sole discretion as to whether or not to utilise the ATM, the maximum number of shares to be issued, the minimum issue price of shares and the timing of each subscription (if any).

There are no requirements on AVZ to utilise the ATM and AVZ may terminate the ATM at any time, without cost or penalty. Acuity Capital and the ATM do not place any restrictions at any time on AVZ raising capital through other methods. If AVZ does decide to utilise the ATM, AVZ is able to set an issue price floor (at its sole discretion), with the final issue price being calculated as the greater of the nominated floor price and up to a 10% discount to a Volume Weighted Average Price (VWAP) over a period of AVZ's choosing (again at its sole discretion). As security for the ATM, the Company has agreed to place 60,000,000 AVZ shares from its LR7.1 capacity to Acuity Capital at nil cash consideration. The Company may, however, at any time cancel the ATM as well as buy back (and cancel) those shares for no cash consideration (subject to shareholder approval).

The Company further advises that it is in the process of applying for its shares to be traded on the OTCQX1 Best Market (OTCQX), enhancing AVZ's visibility and grow its North American shareholder base. The Company will continue to have its primary listing on the ASX and be subject to, and comply with, the ASX Listing Rules and Corporations Act 2001 (Cth) (Corporations Act). 1 The OTCQX is the OTC Markets Group's premier market for established companies seeking U.S. investors. The OTC Markets Group Inc. is the operator of financial markets for 11,000 U.S. and global securities. Companies seeking to be traded on the OTCQX meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction.

Contact:

Mr. Jan de Jager

Tel: +61 8 6117 9397

Email: admin@avzminerals.com.au

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