Crater Gold Mining Limited (Crater or the Company) requested a suspension in trading of its securities pending an announcement in respect of a material acquisition (the Acquisition). At that time, it was anticipated an announcement would be made on or prior to 30 September 2021 (the Announcement). Subsequent extensions requested have resulted in a cumulative further extension to the suspension in trading of the Company's securities until 31 December 2022.

On 16 September 2022, the Company announced that it would not proceed with the Acquisition and that the Board is in the process of considering alternative strategies and has made submissions to ASX seeking ASX's confirmation that if the Company implements its proposed alternative strategies (which largely involve continued exploration of the Company's existing assets), that the suspension of trading in the Company's securities will be lifted. Details regarding the Company's proposed strategies will be announced in due course. Crater now requests an extension to the suspension in trading of its securities until the earlier of the date that it meets the ASX's conditions for lifting of the suspension of trading in the Company's securities or 12 March 2023.

The Company confirms that it is not aware of any further information necessary to inform the market about the voluntary suspension.

This announcement has been authorised and approved by the board of the Company.

Contact:

Russ Parker

Managing Director

T: +61 8 6188 8181

E: info@cratergold.com.au

W: www.cratergold.com.au

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