Aurumin Limited (ACN 639 427 099) (ASX: AUN) (Aurumin or Company wishes to advise that the nonrenounceable entitlement offer, pursuant to the Company's prospectus dated 18 April 2023 (as supplemented by the supplementary prospectus dated 10 May 2023 and extended by ASX announcement dated 4 May 2023) (collectively, Prospectus) closed on 16 May 2023.

Capitalised terms used, but not defined, in this announcement have the meaning ascribed to them in the Prospectus.

Any securities which are not taken up in accordance with the Entitlement Offer and which are not subscribed for by the Underwriter may be placed by Underwriter in consultation with the Company to New Investors within three months of the Closing Date (Remaining Shortfall Securities). Accordingly, the Prospectus also incorporates an offer to New Investors to subscribe for the Remaining Shortfall Shares (Remaining Shortfall Offer)

Entitlement Offer

Aurumin lodged a prospectus dated 18 April 2023 (as supplemented by the supplementary prospectus dated 10 May 2023 and extended by ASX announcement dated 4 May 2023) to offer all eligible shareholders the opportunity to participate in the renounceable pro rata non-entitlement offer of 1 new Shares for every 2 Shares held as at the record date, at an issue price of $0.03 per Share and 1 free attaching Quoted Option (expected to be listed under ticker ASX:AUNOC, exercisable at $0.06 each and having an expiry date of 31 August 2024) (Quoted Options)) for every 1 Share subscribed for and issued under the Entitlement Offer (Entitlement Offer).

Underwriting Agreement

The Entitlement Offer is partially underwritten by GBA Capital Pty Ltd (GBA) to $2,200,000 (before costs), pursuant to an underwriting agreement between GBA and the Company dated 17 April 2023 (Underwriting Agreement). Pursuant to the Underwriting Agreement, GBA will receive the following aggregate consideration (in addition to reimbursement for expenses properly incurred by GBA in performing its obligations thereunder): (a) an underwriting fee totalling 6% of the underwritten amount pursuant to the Underwriting Agreement; (b) up to 20,000,000 Quoted Options, subject to Shareholder approval (failing which the Company will pay the cash equivalent of the same determined utilising a Black & Scholes valuation of the Quoted Options) and (c) a management fee of 6% of the gross proceeds received from the sale of all Remaining Shortfall Securities. The obligation of GBA to underwrite the Entitlement Offer remains subject to certain absolute rights of termination (further details in respect of which are set out in the Prospectus).

Contact:

Tel: +61 (8) 6555 2950

Email: admin@aurumin.com.au

Web: www.aurumin.com.au

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