Asset Acquisitions and Disposals::Signing of Supplemental Deed - Proposed Acquisition of Tengri Coal and Energy Pte. Limited

BLACKGOLD NATURAL RESOURCES LIMITED

(Company Registration Number: 199704544C)

(Incorporated in the Republic of Singapore)

SUPPLEMENTAL DEED TO THE SALE AND PURCHASE AGREEMENT IN RELATION TO THE PROPOSED ACQUISITION OF THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF TENGRI COAL AND ENERGY PTE. LIMITED

1. INTRODUCTION

1. The Board of Directors (the "Board" or the "Directors") of BlackGold Natural Resources Limited
   (the "Company" and together with its subsidiaries, the "Group") refers to the announcement made by the Company on 28 May 2021 in relation to the conditional sale and purchase agreement ("Sale and Purchase Agreement") entered into between the Company and MGL
   Development Pte. Ltd. (collectively with the Company, the "Parties") for the proposed acquisition of the entire issued and paid-up share capital of Tengri Coal and Energy Pte. Limited by the Company ("SPA Announcement").
2. Unless otherwise defined, all capitalised terms used and not defined herein shall have the same meanings ascribed to them in the SPA Announcement.
3. Further to the SPA Announcement, the Board wishes to announce that the Parties have on 11 June 2021 entered into a supplemental deed ("Supplemental Deed") to amend the Sale and Purchase Agreement on the terms and subject to the conditions set out in the Supplemental Deed, which is supplemental to the Sale and Purchase Agreement.

2. EXTENSION OF DEADLINE FOR PLACEMENT EXERCISE

1. As announced in the SPA Announcement, under the terms of the Sale and Purchase Agreement, the Company shall, inter alia, complete the Placement Exercise of new Shares for an aggregate of up to S$5,000,000, as soon as reasonably practicable, but in any case, within 21 days of the date of the Sale and Purchase Agreement (i.e., by 11 June 2021) (or such other date as may be agreed between the Parties in writing). The completion of the Placement Exercise is also a condition precedent to the completion of the Proposed Acquisition.
2. Under the terms of the Supplemental Deed, the Parties have agreed that the Placement Exercise shall be completed as soon as reasonably practicable, but in any case, by 11 August 2021.
3. Except to the extent supplemented, varied or amended by the provisions of the Supplemental Deed, the terms and conditions of the Sale and Purchase Agreement remain in full force and effect.

3. DOCUMENTS AVAILABLE FOR INSPECTION

A copy of the Supplemental Deed will be made available for inspection during normal business hours at the registered office of the Company at 7 Temasek Boulevard, #08-07 Suntec Tower 1

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Singapore, Singapore 038987 for a period of three (3) months from the date of this announcement.

4. RESPONSIBILITY STATEMENT

The Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement and confirm after making all reasonable enquiries that to the best of their knowledge and belief, this announcement constitutes full and true disclosure of all material facts about the Proposed Acquisition, the Company and its subsidiaries, and the Directors are not aware of any facts the omission of which would make any statement in this announcement misleading. Where information in this announcement has been extracted from published or otherwise publicly available sources or obtained from a named source, the sole responsibility of the Directors has been to ensure that such information has been accurately and correctly extracted from those sources and/or reproduced in this announcement in its proper form and context.

5. CAUTION IN TRADING

Shareholders and potential investors are advised to exercise caution in trading their shares as there is no certainty or assurance as at the date of this announcement that the Proposed Acquisition will be completed. The Company will make the necessary announcements when there are further developments on the Proposed Acquisition. Shareholders are advised to read this announcement and any further announcements by the Company carefully, and should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take.

By Order of the Board

Soh Sai Kiang

Independent Non-Executive Chairman

11 June 2021

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Pong Chen Yih, Chief Operating Officer, at 7 Temasek Boulevard, #18- 03B Suntec Tower 1, Singapore 038987, telephone [phone].

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