Minbos Resources : Update - Proposed issue of Securities - MNB

Update Summary

Entity name

MINBOS RESOURCES LIMITED

Announcement Type

Update to previous announcement

Date of this announcement Friday February 26, 2021

Reason for update to a previous announcement

Update Corporate Options

Refer to next page for full details of the announcementPart 1 - Entity and announcement details

1.1 Name of +Entity

MINBOS RESOURCES LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type ACN

1.3 ASX issuer code MNB

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement Update Corporate Options

1.4b Date of previous announcement(s) to this update Thursday February 18, 2021

1.5 Date of this announcement Friday February 26, 2021

1.6 The Proposed issue is:

A placement or other type of issue

Registration Number 141175493

Part 7 - Details of proposed placement or other issuePart 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue?+Security holder approval

Court approval

Lodgement of court order with +ASICACCC approval

FIRB approval

Another approval/condition external to the entity

Yes

7A.1a Conditions

Approval/Condition +Security holder approvalDate for determination Wednesday March 31, 2021

Is the date estimated or actual?

Estimated

** Approval received/condition met?

No

Comments

Placement Options, Corporate Options as well as Directors participation (2,500,000 shares) in the placement are subject to shareholder approval in the upcoming general meeting.

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?

Existing class

Details of +securities proposed to be issued

ASX +security code and description MNB : ORDINARY FULLY PAID

Will the proposed issue of this +security include an offer of attaching +securities?

Yes

Number of +securities proposed to be issued

91,250,000

Reason for the update of 'Maximum Number of +securities proposed to be issued'Offer price detailsAre the +securities proposed to be issued being issued for a cash consideration?

Yes

In what currency is the cash	What is the issue price per
consideration being paid?	+security?
AUD - Australian Dollar	AUD 0.08000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

Yes

Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)?

New class

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms Will the entity be seeking quotation of the 'new' class ofof the proposed +securities are appropriate and equitable under listing rule 6.1?

No

ASX +security code

New class-code to be confirmed

+Security type Options

Number of +securities proposed to be issued 45,625,000

Reason for the update of 'Maximum Number of +securities proposed to be issued'Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

No

+securities on ASX?

Yes

+Security description