Investor Briefing 21012022, page-15

Letter from the FEG Chairman this morning:

Thank you for investing in Far East Gold. On Friday 4th February we closed the offer having raised approximately $10.4mill via the IPO - $2.4 million over the minimum subscription, with 500+ shareholders. We were overwhelmed with the support and interest we received.

On Friday, we received the request for more information on 4 items from ASX’s IPO listing committee. All questions are straight forward however the responses take time and it’s resulted in our listing date being delayed.

Background - on 22 December 2021, having commitments for the minimum subscription of $8mill dollar investment requirement, the board extended our offer period to close on the 4th February with the aim to list on the 14th of February. The motivation was to allow additional institutional investors the opportunity to finish their due diligence.

The final day for quotation of shares on the ASX, under the Prospectus, was the 17th of February, and the board was comfortable with this date as we had received our ASX in principle approval to list in August 2021. We we were confident that the ASX was well informed and had reviewed our offer. However, the ASX listing committee asked additional questions on the 10th of February that required additional information from our Independent Geologist, which we will provide tomorrow and has resulted in us needing to extend the 3 months listing date deadline.

What this means - We must refresh the prospectus, with the opportunity to leave the offer open for 1-3 months. We have decided to leave the offer open for one month.

What next - On Wednesday the 16th of February we expect to issue a refresh prospectus and will subsequently host a webcast to answer any questions.

We have spoken with a number of our largest and cornerstone investors all of who have indicated they remain supportive and committed, as do the full board of Far East Gold.

We will provide a further update no later than Thursday this week and will schedule an investor briefing early next week to take investor questions.

Please respond to this email directly if you would like any further information. The team and I are happy to speak to any shareholder.

Whilst this delay is unfortunate, we thank everyone for their support, and are incredibly excited about continuing to advance FEG's world class portfolio of assets.

Regards,
Paul Walker
Chairman