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Coda Minerals Limited (“Coda” or “the Company”) is pleased to announce that pursuant to the IPO Prospectus dated 4^thSeptember 2020 the Offer opened on 12^th September 2020. Since then, the Company has received significant interest in the Offer from investors which far exceeds previous expectations. The Board considers that the strong demand for New Shares under the Offer is a positive endorsement of the Company’s Elizabeth Creek Project and its business strategy.

The Board (in consultation with the Lead Manager) has assessed this very strong demand for Shares and determined that it is in the Company’s best interests to increase the maximum amount which may be raised under the Offer to $ 8.5 million.

The Company has released a Supplementary Prospectus dated 18^th September which accompanies and updates the Prospectus dated 4^th September. A copy of both documents may be obtained from our website at www.codaminerals.com