GREAT BOULDER RESOURCES LIMITED (GBR)

The suspension of trading in the securities of Great Boulder Resources Limited is expected to be lifted from the commencement of trading on Wednesday, 12 July 2023 following the release by GBR of an announcement regarding the outcome of an application to the Supreme Court of Western Australia by GBR seeking orders in relation to GBR's failure to lodge a cleansing notice under section 708A(5)(e) of the Corporations Act.

On 11 July 2023, the Supreme Court of Western Australia heard the company's application to rectify an oversight related to the delayed release of a cleansing notice in connection with the issue of 18,000,000 fully paid ordinary shares under a placement. The Court has made orders to the effect that: the period of 5 business days in which to lodge the Cleansing Notice be extended to 10 July 2023; 2. the Cleansing Notice that the company released on 10 July 2023 be deemed to take effect as if it had been lodged with ASX on 23 March 2023; and has declared that any offer for or sale of the Placement Shares after their issue and prior to making of the orders is not invalid by reason of any failure of a notice under section 708A(5)(e) of the Corporations Act to exempt the sellers from the obligation of disclosure under the Corporations Act or any sellers' consequent failure to comply with the disclosure obligations under the Corporations Act.

On 23 March 2023, the company issued 18,000,000 fully paid ordinary shares under a placement. The company applied for quotation of the placement shres on ASX on 24 March 2023. The placement shares were issued to sophisticated and institutional investors without the need for a disclosure document under Chapter 6D of the Corporations Act 2001. On 16 March 2023 Great Boulder lodged with ASIC and issued and released to ASX a prospectus for the company's non-renounceable entitlement offer of fully paid ordinary shares in the company, being the entitlement offer announced by the company on 16 March 2023. Due to oversight and misunderstanding, the company did not give a cleansing notice within 5 business days of the issue of the placement shares. The company now gives notice in relation to the placement shares. The company intends to make an application to the Supreme Court of Western Australia for orders providing for an extension of time to lodge the cleansing notice and deeming it to be effective from the date on which the placement shares were issued and that any subsequent sales of the placement shares were valid. The Court is anticipated to have availability to hear the matter on Tuesday, 11 July 2023 pending the filing of the originating documents with the Court, which is expected to occur on Monday, 10 July 2023.

The securities of Great Boulder Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of GBR, pending the release of an announcement in relation to the outcome of an application to the Supreme Court of Western Australia by GBR seeking orders in relation to GBR's failure to lodge a cleansing notice under section 708A(5)(e) of the Corporations Act.

The suspension of trading in the securities of Great Boulder Resources Limited will be lifted immediately, following the release by GBR of an announcement regarding an acquisition and capital raising.

Great Boulder receives commitments for $700,000 placement. Non-renounceable rights issue to raise a further $1,300,000. Funds to be used in drilling program for Whiteheads acquisition and other exploration work plans.

ï‚· Heads of Agreement signed with Zebina Minerals Pty Ltd for an option to acquire 75% of the Whiteheads Gold Project. Whiteheads is a highly attractive gold project in a sought-after area, just 60km north of Kalgoorlie in Western Australia. There are multiple large-scale gold anomalies and previous drill intersections. Numerous drill-ready targets and large soil geochemical anomalies to be tested.

The securities of Great Boulder Resources will be suspended from quotation immediately under Listing Rule 17.2, at the request of GBR, pending the release of an announcement regarding an acquisition and capital raising.

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