A S X A N N O U N C E M E N T 15 February 2022 T: +61 (0)8 9322...

A S X A N N O U N C E M E N T 15 February 2022 T: +61 (0)8 9322 6322 W: peregrinegold.com.au E: [email protected] A: Level 9, 28 The Esplanade, Perth WA 6000 ABN: 53 644 734 921 YANDAL INVESTMENTS BECOMES A SUBSTANTIAL SHAREHOLDER OF PEREGRINE HIGHLIGHTS • Yandal Investments Pty Ltd, a company owned and controlled by Mark Creasy, has become a substantial shareholder of Peregrine, with a holding of 9.6% following a placement of 4.5m fully paid ordinary shares at $0.50 to raise $2.25m; and • Funds from the placement will be used to accelerate and expand exploration activities on the Company’s extensive portfolio of highly prospective gold and lithium projects. Peregrine Gold Limited (“Peregrine” or “Company” is pleased to announce that the Company has completed a placement to Yandal Investments Pty Ltd (“Yandal”, a company owned and controlled by Mr Mark Creasy. Yandal has subscribed for 4,500,000 fully paid ordinary shares (“Shares” at $0.50 each to raise $2,250,000 (“Placement”. As part of the Placement, the Company has also granted to Yandal 1,815,000 free unlisted options, exercisable at $0.75 each on or before 31 December 2024. The Placement Shares, Options and ordinary shares issuable on exercise of the Options (“Option Shares” are collectively, the “Placement Securities”. The Company will issue the Placement Securities under Listing Rule 7.1 (306,228 new ordinary shares and 1,815,000 new unlisted options) and 7.1A (4,193,712 new ordinary shares). Funds from the placement will be used to accelerate and expand exploration and drilling activities on the Company’s extensive portfolio of gold and lithium projects, which has rapidly expanded since listing in March 2021. The Company has a number of important exploration activities over the coming months, including: • RC drilling for the four existing gold targets at the Pilbara Gold Project, with the drill rig contract signed and estimated to be mobilised mid-2022; • Field activities on the Company’s new highly prospective lithium project to commence as soon as possible and will include a comprehensive stream sediment and rock chip sampling programme; and • Release of the results from the high resolution airborne magnetic geophysical survey over the Mallina Gold Project by the end of March 2022 and is expected to include suitable targets for a drilling programme that the Company will look to commence as soon as possible