Ann: A$34m equity raise at a significant premium, page-2

Cashed up and ready to rock and roll.

Funds raised from the FTS Placement will be specifically applied as follows:
• expedited follow-up drilling at priority targets at Adina-Jackpot; prospecting, gravity, stripping and channel sampling and CEE eligible staffing expenses at Adina (totalling approximately A$26.0 million);

• expedited follow-up drilling at priority targets at Cancet; prospecting, gravity, stripping and channel sampling and CEE eligible staffing expenses at Adina (totalling approximately A$6.8 million);

• expedited follow-up drilling at priority targets at Tilly; exploration, prospecting, gravity, stripping and channel sampling and CEE eligible staffing expenses at Tilly (totalling approximately A$1.4 million); and

• surveys, field work and preliminary drilling campaigns at Winsome’s other projects: Sirmac-Clapier (totalling approximately A$0.2m).