Carpentaria Resources : Results of Meeting and Appointment of New Chairman

30 December 2020

Results of Meeting and Appointment of New Chairman

Carpentaria Resources Limited (ASX: CAP) hereby announces the results of the voting at the Company's extraordinary general meeting, which are appended to this announcement. Resolution 1, which was intended to remove independent director, Mr Paul Cholakos, was overwhelmingly rejected by shareholders, and resolution 2 (concerning the election as a director of Mr Bryan Granzien) was passed by a similar majority.

Carpentaria further advises that Mr Bryan Granzien has been elected by the Board as Non-executive Chairman. Mr Granzien has extensive and relevant commercial and corporate experience and specifically has experience in bringing companies together to achieve strategic business outcomes. His leadership, change management, relevant industry experience and contacts demonstrate he is well suited to drive Carpentaria Resources through its next stage of development.

Commenting on the results of the EGM and the resounding voting support of Carpentaria shareholders, Mr Granzien said, "I am grateful to all shareholders who supported the resolutions Paul Cholakos and I sought through the EGM. I also recognise and appreciate the sentiments communicated by JV partner Starlight Investments and offtake supporter, Mitsui & Co., Ltd. We look forward to further strengthening these relationships.

He added, "It is now the Board and Management's clear task to use this strong mandate to refocus on working as a cohesive Management and Board to realise the value promised by the world-class Hawsons Iron Project."

Mr Granzien reaffirmed his belief that the completion of the ownership transaction and issue of shares to Pure Metals Pty Ltd that was approved at the AGM on 2 November 2020 remains a key milestone and consideration for the Board. (This transaction remains subject to FIRB approval).

Mr Granzien concluded by saying, "We also acknowledge the clear message that all stakeholders expect the Board to get down to business and move the Company forward as soon as possible. Fundamental to our activities going forward will be a comprehensive review of strategy and plans in mid-January 2021 to ensure optimum outcomes are achieved".

Released by authority of the Board

Carpentaria Resources Ltd

[phone]

CARPENTARIA RESOURCES LIMITED	RESULT OF EXTRAORDINARY
	MEETING (ASX REPORT)

EXTRAORDINARY MEETING

Wednesday, 30 December, 2020

As required by section 251AA(2) of the Corporations Act 2001 (Commonwealth) the following statistics are provided in respect of each resolution on the agenda.

		Resolution Voted on at the meeting				Proxy Votes (as at proxy close)					Poll (Manner in which votes were cast in person
															or by proxy on a poll (where applicable) on a
															poll at the meeting
	No	Short Description	Strike		For			Against		Discretionary		Abstain		For	Against		Abstain **		Result
	Y/N/NA					(open votes)
	1	REMOVAL OF PAUL CHOLAKOS AS A DIRECTOR	NA		64,070,231		107,298,736			1,376,247		457,629		64,070,231	109,053,767		457,629		Not Carried
					37.09%		62.11%			0.80%				37.01%	62.99%
	2	ELECTION OF BRYAN GRANZIEN AS A DIRECTOR	NA		110,429,263		60,250,523			1,375,389		1,147,668		112,183,436	60,250,523		1,147,668		Carried
					64.18%		35.02%			0.80%				65.06%	34.94%
	3	REMOVAL OF PETER GRAHAM AS A DIRECTOR	NA		111,195,380		60,036,240			947,055		1,024,168		Not put to meeting	Not put to Meeting		Not put to Meeting
					64.58%		34.87%			0.55%
		** - Note that votes relating to a person who abstains on an item are not counted in determining whether or not the required majority of votes were cast for or against that item
	Resolution proposed but not put to the meeting
	No.	Short Description						Reason(s) for not putting to the meeting
	3	REMOVAL OF PETER GRAHAM AS A DIRECTOR						Resolution withdrawn

Printed: 30/12/2020 12:17:43PM

This report was produced from the Link Market Services Meeting System

Page 1 of 1