Ann: Share Purchase Plan 2020 Offer Document, page-61

My guess is the extension has been put in place because the Offer is already filled and they are looking for the absolute ' MaximuM ' oversubscriptions they can.

And with 646,130,906 fully diluted shares on issue prior to the ' Offer ' , this would represent a total additional shares available under the SPP per below of

193,839,271 .....which at 1.4 cents would be equal to a total amount of $2,713,749 or potentially $1,713,749 more than that of the original $1 million sought from the SPP.

So that would be potentially a total of $3,713,749 raised in total across the Placement and SPP with only a total of 265,267,842 being added. This would then leave us with ONLY a potential 911,398,798 total shares outstanding after completing the offers.

And why wouldn't you subscribe for a s many as possible in this market .....and with an exceptional discount of 30%.....

" The Board decided to seek to raise $2 million (before costs) based on the budgeted fundingrequired by the Company for the pre-development costs of the Crown Prince, Lydia and Abbottsgold projects while the Company completes the native title negotiations to satisfy all theconditions required prior to the granting of the Crown Prince mining lease. "

" The amount sought to be raised under the SPP wasestablished to give shareholders an opportunity to participate in the capital raising, afterconsidering take up by shareholders in previous share purchase plans and the fact that the fullamount sought to be raised under the SPP is not guaranteed. If demand by Eligible Shareholdersexceeds $1,000,000, the Board has retained a discretion to accept oversubscriptions as discussedfurther below. "

" The Offerprice represents a 30% discount to the closing price of $0.020 per Share on ASX on Wednesday,27 May 2020 (being the last trading day prior to announcement of the Offer) and a 30% discountto the volume weighted average price of Shares of $0.020 calculated over the last five days onwhich sales in the Shares were recorded prior to today. Whilst the discount exceeds thatpermitted under ASX Listing Rule 7.2 Exception 5 for a SPP (which exception, in summary, providesthat ASX Listing Rule 7.1 will not apply to the Offer and any Shares issued under the Offer will notexpend any of the Company's placement capacity under that rule), the Company has relied onResolutions 1.2 and 1.3 of the ASX Class Waiver Decision dated 23 April 2020 to set the Offer priceat the same price as the Placement. "

" The Company is seeking to raise $1,000,000 under the Offer. However, the Directors reserve theright to accept oversubscriptions (subject to the maximum number of Shares the Company canissue under the Offer, which is 30% of the Company’s pre-Offer issued capital) or to scale backapplications on a pro-rata basis in their absolute discretion. The Directors reserve the right toissue fewer Shares than eligible shareholders apply for. "