Ann: Grant of permits in QLD Greenvale cobalt-nickel project, page-2

Ausmon Resources Limited (“Company”) is pleased to announce that its wholly ownedsubsidiary New Base Metals Pty Ltd has been advised of the grant of 3 explorationpermits for 100% interests, EPM 26813, EPM 26814 and EPM 26815, for 5 yearseffective from 5 November 2018 by the Queensland Government Department of NaturalResources, Mines and Energy following its application for those permits early this year.

The 3 permits cover a total area of approximately 276 km2 and are strategically located20-50 kms from the reportedly most advanced cobalt project in Australia (ASX: AUZ‘’Sconi’’ ML10368). Sconi has recently attracted an offtake agreement from SKInnovation, a very large battery supplier and one of the largest companies listed on theKorean Stock Exchange.

The first year work commitments on all 3 permits consist of technical review of historicaldata, geological and geophysical survey, mapping reconnaissance and rock chipsampling for a total minimum expenditure of $60,000. The Company’s consultantgeologists will commence the work as soon as possible.

On the grant of the 3 EPMs the Company will issue a total 10,714,288 fully paid ordinaryshares to the vendor of New Base Metals Pty Ltd in accordance with the acquisitionagreement executed in May 2018.