Ann: Company Update and Capital Raising, page-2

Further to the ASX announcement of 13 October 2023 Javelin Minerals Limited (“Javelin”, ASX: JAV or “the Company”) advises that, following on from the decision to not proceed with the proposed takeover of Gecko Minerals Limited (ASX announcement dated 13 October 23), it will restructure the proposed capital raising by replacing the previously announced conditional share and option placement with a pro rata entitlement issue that will enable all shareholders to participate on a pro rata basis and will also not require shareholder approval.

1 for 10 share consolidation to proceed as previously announced subject to shareholder approval at the AGM.

Pro rata non-renounceable entitlements issue of shares on a 1 for 1 basis at an issue price of $0.001 on a post consolidation basis to raise up to approximately $1.1 million.

1 attaching option for each share subscribed for with an exercise price of $0.002 on a post consolidation basis and an expiry date of 31 December 2028. The Company will apply for listing of the options subject to ASX requirements.

Shaw and Partners Limited appointed as Sole Lead Manager to exclusively place any shortfall from the issue (a fee of 6% excluding GST is payable on this amount).

The Company’s AGM date has now been put back to 30 November 2023 and the Notice of AGM will be released in the week commencing 30 October 2023.

The Company also announces that Non-Executive Director, Zaffer Soeyma will not seek re-election at the upcoming 2023 AGM and will resign as a Director, effective at the conclusion of the AGM on 30 November 2023.