Announcement PDF Proposed issue of securities Announcement Summary Entity name IMPACT MINERALS LIMITED Announcement Type New announcement Date of this announcement Wednesday July 22, 2020 The Proposed issue is: A placement or other type of issue Total number of +securities proposed to be issued for a placement or other type of issue ASX +security code +Security description Maximum Number of +securities to be issued IPT ORDINARY FULLY PAID 216,333,333 Proposed +issue date Monday July 27, 2020 Refer to next page for full details of the announcement Proposed issue of securities 1/5 Proposed issue of securities Part 1 - Entity and announcement details 1.1 Name of +Entity IMPACT MINERALS LIMITED We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules. 1.2 Registered Number Type Registration Number ACN 119062261 1.3 ASX issuer code IPT 1.4 The announcement is New announcement 1.5 Date of this announcement Wednesday July 22, 2020 1.6 The Proposed issue is: A placement or other type of issue Proposed issue of securities 2/5 Proposed issue of securities Part 7 - Details of proposed placement or other issue Part 7A - Conditions 7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity No Part 7B - Issue details Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class Will the proposed issue of this +security include an offer of attaching +securities? No Details of +securities proposed to be issued ASX +security code and description IPT : ORDINARY FULLY PAID Number of +securities proposed to be issued 216,333,333 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Yes In what currency is the cash consideration being paid? What is the issue price per +security? AUD - Australian Dollar AUD 0.01500 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Proposed issue of securities 3/5 Proposed issue of securities Part 7C - Timetable 7C.1 Proposed +issue date Monday July 27, 2020 Part 7D - Listing Rule requirements 7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No 7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes 7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1? 206,211,181 7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? Yes 7D.1c ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A? 10,122,152 7D.1c ( ii ) Please explain why the entity has chosen to do a placement rather than a +pro rata issue or an offer under a +security purchase plan in which existing ordinary +security holders would have been eligible to participate The Placement introduces new investors to the Company. The introduction of these investors and timelines for the capital raising and completion are considered more advantageous to the Company than a pro-rata offer. 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No Part 7E - Fees and expenses Proposed issue of securities 4/5 Proposed issue of securities 7E.1 Will there be a lead manager or broker to the proposed issue? Yes 7E.1a Who is the lead manager/broker? Excel Capital Pty Ltd and 180 Markets 7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? Fee of approximately 6% of funds raised 7E.2 Is the proposed issue to be underwritten? No 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities Funds raised will be used to fund drilling at Broken Hill and other prospects as well as to conduct follow up work including drilling at the Commonwealth project and for working capital. 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No 7F.2 Any other information the entity wishes to provide about the proposed issue Proposed issue of securities 5/5