Announcement PDF ASX ANNOUNCEMENT Date: 5 February 2018 Number: 571/050218 SQUADRON RESOURCES INCREASES EQUITY IN IMPACT MINERALS BY CONVERSION OF NOTES Impact Minerals Limited (Impact) (ASX:IPT) advises that Squadron Resources Pty Ltd (Squadron) has increased its shareholding in the Company to 14.8% by conversion of the $2,000,000 of Convertible Notes (Notes) it held in Impact. The Notes were held under the terms of the Investment Agreement with Squadron (see announcement dated 15 July 2015) and issued on 7 August 2015 with a term of 3 years from the date of issue. Under the terms of the Agreement 148,148,148 shares will be issued within 5 business days. Under the Agreement Squadron can convert the Notes into Impact shares at a conversion price which is the lower of 2.1 cents per share or 80% of the 30-day Volume Weighted Average Price (VWAP) prior to the date of the Conversion Notice which was 1.35 cents. For further information please contact: Dr Mike Jones Managing Director Impact Minerals Limited +61 8 6454 6666 26 Richardson Street West Perth Western Australia 6005 Tel +61 (8) 6454 6666 Facsimile +61 (8) 6454 6667 Email info@impactminerals.com.au www.impactminerals.com.au