GBM RESOURCES LIMITED (GBZ)

The suspension of trading in the securities of GBM Resources Limited will be lifted immediately, following the release by GBZ of an announcement in relation to a proposed capital raising.

The company releases a notice of proposed issue of securities.

Placement to raise approximately $1.9 million supported by directors and Collins St Asset Management. Tranche 1: Placement to raise approximately $1.0 million, before costs. Tranche 2 (subject to shareholder approval): Issue of free attaching options to unrelated parties issued shares pursuant to Tranche 1. Placement to directors and management and their related parties to raise $462,000. Placement to CSAM to raise $462,000. Restructure of existing convertible note, along with conversion of $900,000 of debt by CSAM to equity. Non-renounceable entitlement issue to eligible shareholders to raise up to approximately $1.65 million (before costs). Entitlement Offer is not underwritten, however Canaccord has been offered the ability to place any shortfall under the Entitlement Offer on a best endeavours basis. Funds raised from the Placement and Entitlement Offer (up to a maximum of ~$3.55 million), after costs, will be applied to exploration at the Company's wholly owned Twin Hills and Yandan Gold Projects (including drilling at the Lone Sister and 309 deposits, and regional geochemical and geophysical programs), reduction of convertible note debt and the provision of working capital.

The securities of GBM Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of GBZ, pending the release of an announcement in relation to a proposed capital raising.

The suspension of trading in the securities of GBM Resources Limited will be lifted immediately following the release by GBZ of an announcement regarding a proposed capital raising.

THe company has received firm commitments for a placement to raise $1.36m. The capital raising consists of: $1.25m placement to unrelated institutional and sophisticated investors resulting in the issue of approximately 23.3 million fully paid ordinary shares at an issue pricce of $0.054 per share; and a further 2,000,000 shares have been subscribed for on the same terms as the placement to directors Mr. Peter Mullens and Mr. Peter Rohner, subject to shareholder approval. The placement was undertaken at an offer price of $0.054 per new share, representing discount of: 11.5% to the last close price on 30 June 2022 of $0.061; and 18.4% to 10-day VWAP of $0.066. Funds raised under the placement, along with existing cash and liquid securities, will be used to support current exploration activities at GBM's Drummond Basin Projects and provide working capital. The placement shares are expected to be issued on 11 July 2022.

The securities of GBM Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of GBZ, pending the release of an announcement regarding a proposed capital raising.

we understand that on or about this date the company consolidated its shares 1 for 10

The suspension of trading in the securities of GBM Resources Ltd will be lifted immediately following the release by GBZ of an announcement regarding a proposed capital raising.

The company has executed a term sheet for a A$700,000 convertible note to be issued to Lion Resources Development, which is not a related party of GBM Resources Limited. The proceeds received will be applied towards working capital requirements.

The tenement sale agreement between GBM Resources and Minjar Gold was subject to a satisfaction of certain conditions precedent by 30 April 2019, or such later date as the parties may agree. GBM notified Minjar that the conditions precedent were, in its view, either satisfied or waived. Notwithstanding this, GBM advises that Minjar issued a letter to GBM on 2 May 2019 giving notice of termination of the Agreement on the basis that, in their view, the conditions precedent were not satisfied. GBM does not agree with Minjar's view and is currently considering its position.

The securities of GBM Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of GBZ, pending the release of an announcement regarding a proposed capital raising.

we understand that on or about this date the company undertook, proposed to undertake or was the subject of the following corporate action: - Swift Venture Holdings Corporation to acquire 100% of GBM?s Queensland Joint Venture phosphate rights - this corporate event may appear elsewhere in this company record

listed entity carried for record purposes only