25 Nov

$1 Million Placement Completed

ASX ANNOUNCEMENT 25 NOVEMBER 2021 3443 - 4524 - 7511v3 1 Level 24 108 St Georges Terrace Perth WA 6000 Australia ASX :LIN www.lindianresources.com.au Chairman Asimwe Kabunga Non Executive D irectors Yves Occello Giacomo (Jack) Fazio C ompany Secretary Susan Park T : +61 8 6557 8838 E : info@lindianresources.com.au Enquiries reg a rding this announcement can be directed to: Asimwe Kabunga $ 1M PLACEMENT COMPLETED Lindian Resources Limited (ASX: LIN ) ( ‘ Lindian ’ or ‘ the Company ’ ) is pleased to confirm that it has received commitments from a number of sophisticated and professional investors and existing shareholders to raise $1 ,000,000 in a non - brokered placement through the issue of 33,333,33 4 fully paid ordinary shares in the capital of Lindian ( ‘ Shares ’ ) at an issue price of $0.03 per S hare (‘ Placement ’ ) . Subject to shareholder approval, 10,000,000 of the S hares will be issued to Kabunga Holdings Pty Ltd (‘ KHPL ’) , a company associated with Chairman Asimwe Kabunga, in repayment of the principal outstanding on the $300,000 term loan facility entered into on 2 1 October 2021 (‘ KHPL Shares ’) . The Company has reached a gree ment wi th KHPL to extend the maturity date of the loan facility until the date of shareholder approval for issue of the 10,000,000 Shares , which is anticipated to be on 1 February 202 2 , on the same terms. This will leave Lindian debt free and well - funded given its low monthly cash burn r ate and modest projected project expenditure. The S hares will be issued under the Company’s current placement capacity under Listing Rule 7.1 , with the funds raised from the issue to be used to advance Lindian’s projects in Guinea and Tanzania, for costs associated with the Kangankunde Rare Earths Project in Malawi and the ongoing dispute in relation to that project , and for general working capital p urposes . An indicative timetable for the Placement is set out below: Event Date Allotment of Placement Shares (excluding KHPL Shares) 3 December 2021 Placement Shares (excluding KHPL Shares) commence trading 6 December 2021 General meeting to approve issue of KHPL Shares 1 February 2022 Allotment of KHPL Shares and repayment of the principal outstanding on the $300,000 term loan facility 1 February 2022 KHPL Shares commence trading 2 February 2022 The timetable is indicative only and remains subject to change at the Company’s discretion, subject to compliance with applicable laws and the ASX Listing Rules . This ASX announcement was authorised for release by the Lindian Board. For further information, please contact: Asimwe Kabunga Chairman Phone : +61 8 6557 8838 Email : info@lindianresources.com.au www.lindianresources.com.au Follow @ASXLindian on Twitter Follow Lindian Resources on LinkedIn 2 ABOUT LINDIAN RESOURCES LIMITE D Lindian Resources Limited (“Lindian”) is a bauxite focused exploration company listed on the Australian Stock Exchange under the ASX code LIN. The combination of assets offers the opportunity for near term production via the Woula Project while simultaneously advancing the larger, multi - generational bauxite assets, the very high grade Conglomerate Bauxite Gaoual Project and the world class Tier 1 Lelouma Project .

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