KAISER REEF LIMITED — Regulatory Filings 2020

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20[th] March 2020

Kaiser Reef Limited

ASX: KAU

Shares on Issue

Company Announcements

Australian Securities Exchange Level 40, Central Park, 152-158 St Georges Terrace PERTH WA 6000

Kaiser Secures Additional Tenure

33,450,001

Directors & Management

Chairman

Adrian Byass

Executive Director Jonathan Downes

Non Executive Director & Company Secretary David Palumbo

Principal Place of Business Unit 3, Churchill Court 335 Hay Street Subiaco WA 6008

Kaiser Reef Limited (ASX: KAU) ( Kaiser or the Company ) is pleased to announce that it has secured further exploration tenure applications adjacent to the Company’s Stuart Town project.

The two exploration licence applications are highlighted in Figure 1, below. The licence applications, ELA 5937 and ELA 5921, are considered prospective for various styles of mineralisation and are considered by the Board to be complementary to Kaiser’s current tenure (also highlighted in Figure 1) located in the historical gold mining centre at Stuart Town in New South Wales. ELA 5937 is the subject of Kaiser’s own application and ELA 5921 has been acquired from Executive Director, Jonathan Charles Downes, for nil consideration other than the reimbursement of licence application costs ($1,556). The acquisition agreement is otherwise on customary terms for an agreement of this nature.

Whilst the Company is not aware of any reason why the exploration licences will not be granted in due course (anticipated within 3 months), investors are cautioned that there is a risk the exploration licences will not be granted.

About Kaiser

Registered Office

Level 11 216 St Georges Terrace Perth WA 6000

T 08 9481 0389 E [email protected] W kaiserreef.com.au

The New South Wales Lachlan Fold Belt is an extensive and prospective geological unit that is currently enjoying an exploration renaissance. Kaiser considers that the wholly owned Stuart Town project located between Cadia and Alkane’s new gold discovery – the Boda project, and within the Lachlan Fold Belt is highly prospective. The view that the project is prospective for gold is supported by the extensive number of historic gold mines located in the region.

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Figure 1: Kaiser Reef Limited tenement holding in red and new licence applications in blue.

For further information please contact: [email protected]

Authorised by: Jonathan Downes Executive Director

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Stuart Town Gold Project location in New South Wales.