Fraser Range Metals : Cleansing Notice

Suite 6, 295 Rokeby Road

Subiaco Western Australia 6008

T: [phone]

F: [phone]

24 December 2018

CLEANSING STATEMENT

Fraser Range Metals Group Limited � FR(�N or the Company�h)a�s issued and allotted 14,000,000 unquoted performance rights �Pe(�rformance Rights�t)o�directors, employees and contractors of the Company in accordance with shareholder approval obtained on 29 November 2018. The terms of the Performance Rights are outlined in the notice of meeting dated 22 October 2018. Below is the applicable cleansing notice.

Secondary Trading Exemption:

The Corporations Act 2001 �(�Cth�)� �(re�sthricetsAtchte�o)�n-sale of securities issued without disclosure, unless the sale is exempt under Section 708 or 708A. By the Company giving this notice, a sale of the Securities noted above will fall within the exemption in section 708A� (� 5� )� of the Act.

The Company hereby notifies the ASX under paragraph 708� (� A� )� � (� 5� )� � (� e� )� of the Act that

a� )� The Company issued the Securities without disclosure to investors under Part 6D.2 of the Act;

b� )� As at the date of this notice the Company has complied with the provisions of

Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

c� )� As at the date of this notice there is no information:

i� )� that has been excluded from a continuous disclosure notice in accordance with the Listing Rules; and

ii� )� that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

�(�1�T)h�e assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

� (� 2�T)h�e rights and liabilities attaching to the Securities.

- ENDS -

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Aidan Platel

Non-Executive Director

Tel: +61 � (� 8� )� 6555 [e-mail]