AGREEMENT TO DIVEST 100% OF THE PANTON PGM PROJECT

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KEY POINTS

• Binding agreement executed to sell up to 100% of the Panton PGM Project to Dubai 2020, a private family office investor.
• Non-refundable deposit of A$200,000 has been paid by Dubai 2020 to gain exclusivity until 5 December 2020. § Dubai 2020 to acquire 80% interest in Panton for A$12 million cash, subject to due diligence and negotiation of formal documentation.
• Dubai 2020 has a right to purchase the remaining 20% for A$3 million cash within certain time limits.
• Due diligence underway and completion targeted for early December 2020.