LOWELL RESOURCES FUND — Board/Management Information 2018

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Lowell Resources Fund (ASX:LRT)

c/- Lowell Accounting Services Ph: 03 9642 0655 Mail: P.O. Box 16059 Collins Street West Vic 8007 E:mail: [email protected]

30 July 2018

New appointments to

Lowell Resources Fund’s Investment Committee

Lowell Resources Funds Management Ltd (“LRFM”), as Manager of the Lowell Resources Fund (ASX: LRT or “the Fund”) is pleased to announce the appointment of experienced resources analyst Mr Stuart Baker to the Investment Committee of LRT.

Mr Baker joined the committee effective July 2nd and brings a wide experience in valuation and analysis of energy companies. He has a strong local and international reputation for oil and gas E&P company coverage as a senior investment analyst, including 14 years with Morgan Stanley. In a career spanning more than 30 years, Mr Baker has also worked in senior research roles with BT Equities and Macquarie Equities. He crossed over to researching listed companies after gaining industry experience with international oilfield services group, Schlumberger.

LRFM has further strengthened the Investment Committee with the additional appointment of existing director, Mr Richard Morrow. Mr Morrow is chairman of the steering committee of the Melbourne Mining Club, and equity partner of broking firm Baillieu Holst. He has more than 30 years’ experience in sharemarket trading in Australia and the UK, with a particular focus on the resources sector. He is a Fellow of the Australasian Institute of Mining and Metallurgy.

The new appointments join investment manager Mr John Forwood and Mr David Hobday on the Investment Committee, which manages the LRT portfolio. The portfolio comprises more than 40 investments in emerging resources companies with a particular focus on high risk, high reward exploration and development plays across a suite of commodities in many countries, but with a focus on ASX-listed stocks.

ABN: 60 006 844 588. AFS Licence 241175. Registered Office: 8 Chapel Street, Cremorne VIC 3121. Phone: (03) 9665 2499

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Lowell Resources Fund (ASX:LRT)

c/- Lowell Accounting Services Ph: 03 9642 0655 Mail: P.O. Box 16059 Collins Street West Vic 8007 E:mail: [email protected]

LRFM Chairman, Mr Stephen Mitchell commented: “These two appointments will add to the depth of experience on the Investment Committee. Stuart has a wide knowledge of the oil and gas space, an area where we are looking to focus more attention. Richard brings a wealth of sharemarket experience to the team as well as high level contacts developed through his association with the Melbourne Mining Club.”

Yours faithfully,

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Julie Edwards Company Secretary Cremorne Capital Limited As the Responsible Entity for Lowell Resources Fund

About Lowell Resources Fund

ASX-listed Lowell Resources Fund is focused on generating strong absolute returns from the junior resources sector. Our experienced team of fund managers has many years of experience in this high risk, high reward sector. Lowell Resources Fund Management (LRFM) manages the portfolio of exploration and development companies operating in precious and base metals, specialty metals and the oil and gas space. LRFM has a successful 14-year track record managing LRT. An investment in LRT provides investors with exposure to an actively-managed portfolio focused squarely on one of the most exciting and rewarding sectors of the Australian as well as global share markets.

ABN: 60 006 844 588. AFS Licence 241175. Registered Office: 8 Chapel Street, Cremorne VIC 3121. Phone: (03) 9665 2499