Great Northern Minerals : Unmarketable Parcel Share Sale Facility

For personal use only

ASX ANNOUNCMENT

11 March 2022

Unmarketable Parcel Share Sale Facility

Great Northern Minerals Limited ("Great Northern Minerals" or the "Company") (ASX:GNM) is pleased to announced that it has established a share sale facility (Facility) for small shareholders who hold parcels of fully paid ordinary shares in the Company (Shares) valued at less that A$500 as at 4:00pm (AWST) on Wednesday, 9 March 2022 (Record Date) (Unmarketable Parcel). The Facility is being established in accordance with the Company's constitution and the ASX Listing Rules.

Great Northern Minerals appreciates that Unmarketable Parcels can be difficult or expensive to sell, so the Company is offering the Facility to enable eligible shareholders who hold less than A$500 worth of Shares to sell their Shares without having to act through a broker or pay brokerage or handling fees. The Company will pay all costs associated with the sale and transfer of Shares through the Facility (excluding any tax consequences of the sale, which will be the responsibility of relevant shareholder). A copy of the letter and Share Retention form (Retention Form) being dispatched to eligible shareholders is attached.

The Facility, whilst benefitting small shareholders, will also benefit Great Northern Minerals as it is expected to significantly reduce the administration costs associated with maintaining a large number of small shareholdings on the Company's share register.

Based on the Share price at the close of trading on the Record Date of A$0.006, a holding of 83,333 Shares or less constitutes an Unmarketable Parcel.

Shareholders holding an Unmarketable Parcel who wish to retain their shareholding in the Company

need to give the share registry, Computershare Investor Services Pty Limited, written notice by returning the Retention Form by no later than 2:00pm (AWST) on 29 April 2022 or acquire additional Shares prior to that time such that their holdings comprise a marketable parcel, otherwise their Shares will be sold through the Facility.

Shareholders wishing to take advantage of the Facility and have their Shares sold do not need to

take any action.

Great Northern Minerals has mandated CPS Capital Group Pty Ltd as the broker to facilitate the sale of the Unmarketable Parcels.

Great Northern Minerals will arrange to complete share sale process of Unmarketable Parcels as soon as practicable after the closing date for the Facility of 29 April 2022 and will forward all sale proceeds to participating shareholders as soon as practicable following the settlement.

Great Northern Minerals Limited	T: +618 6214	0148
ABN 22 000 002 111	Level 1, 33 Colin Street
www.greatnorthernminerals.com.au	West Perth, WA	6005

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For personal use only

The key dates in relation to the Facility are set out below:

EVENT	DATE
Record Date for establishing Unmarketable	Wednesday, 9 March 2022, 4:00pm (AWST)
Parcel holders
ASX Announcement regarding Unmarketable	Friday, 11 March 2022
Parcel Sale Facility
Shareholder Letter and Retention Form	Monday, 14 March 2022
despatched to Unmarketable Parcel holders
Closing date for receipt of completed Retention	Friday, 29 April 2022, 2:00pm (AWST)
Forms

Great Northern Minerals reserves the right to change any of the dates referred to in this announcement or the enclosed shareholder letter and Retention Form, or to vary, cancel or delay the Facility or the sale of Shares at any time before Shares are sold, by making an announcement to ASX.

The Company does not provide any recommendation or advice as to whether shareholders holding an Unmarketable Parcel should sell or retain their Shares. If you are in doubt about what to do, you should consult a financial, legal or taxation adviser.

If you have any questions about the Facility, please contact Computershare Investor Services Pty Limited on 1300 850 505 (within Australia) or [phone] (outside Australia).

This ASX announcement has been authorised for release by the Board of Great Northern Minerals Limited.

	***ENDS***
For more information please contact:
Cameron McLean	Peter Taylor
Managing Director	Investor Relations
Great Northern Minerals	NWR Communications
[phone]	[phone]
[e-mail]	[e-mail]

About Great Northern Minerals Limited

Great Northern Minerals Limited is an ASX-listed gold focused explorer and developer. The Company's Golden Ant Project is located in Far North Queensland and includes the Amanda Bell and Big Rush Goldfields.

Total gold production from the Amanda Bell Goldfield was approximately 95,000 oz Au (57,000 oz from Camel Creek and 14,000 oz from Camel Creek satellite deposits plus 18,000 oz from Golden Cup and 6,000 oz from Golden Cup satellite deposits). Total gold production from the Big Rush Goldfield was 60,000 oz Au.

Three heap leach gold mines were operated (Camel Creek, Golden Cup and Big Rush). Mining activities commenced in 1989 and ceased in 1998 with the depletion of oxide gold mineralisation.

Great Northern Minerals aims to develop a new gold camp in North Queensland based on the Golden Ant Project.

Great Northern Minerals Limited	T: +618 6214	0148
ABN 22 000 002 111	Level 1, 33 Colin Street
www.greatnorthernminerals.com.au	West Perth, WA	6005

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Great Northern Minerals Limited - Sale of Unmarketable Parcel of Shares

*L000001*only

Great Northern Minerals

Great Northern Minerals Limited

ABN 22 000 002 111

GNM

MR SAM SAMPLE

UNIT 123

SAMPLE STREET

SAMPLETOWN NSW 2001

use14 March 2022

Dear Shareholder,

personalGreat Northern Minerals Limited (ACN 000 002 111) ('Great Northern Minerals' or the 'Company') is pleased to advise that it has established a share sale facility (Facility) for small shareholders who hold parcels of fully paid ordinary shares in the

Company (Shares) valued at less that A$500 as at 4:00pm (AWST) on Wednesday, 9 March 2022 (Record Date) (Unmarketable Parcel).

Based on the Share price at the close of trading on the Record Date of A$0.006, a holding of 83,333 Shares or less constitutes an Unmarketable Parcel.

Great Northern Minerals appreciates that Unmarketable Parcels can be difficult or expensive to sell, so the Company is offering the Facility to enable eligible shareholders who hold Unmarketable Parcels to sell their Shares without having to act through a broker or pay brokerage or handling fees. The Company will pay all costs associated with the sale and transfer of Shares through the Facility (excluding any tax consequences of the sale, which will be the responsibility of relevant shareholder).

The Facility, whilst benefitting small shareholders, will also benefit Great Northern Minerals as it is expected to significantly reduce the administration costs associated with maintaining a large number of small shareholdings on the Company's share register.

Great Northern Minerals has the ability to establish the Facility and facilitate the sale of Unmarketable Parcels under Schedule 3 of the Company's Constitution (Constitution) and ASX Listing Rule 15.13.

ForWHY AM I RECEIVING THIS LETTER?

Our records indicate that you hold an Unmarketable Parcel based on the price of Shares of A$0.006 as at close of trade on the Record Date.

Unless you advise the Company by 2:00pm (AWST) on Friday, 29 April 2022 (Closing Time) that you do NOTwish to have your Shares sold, the Company intends to sell your Shares through the Facility. You do not need to do anything if you wish to have your Shares sold through the Facility.

Shareholders with Unmarketable Parcels are not obliged to sell their Shares. To advise the Company that you do NOTwish to have your Shares sold, you must complete the Share Retention form (Retention Form) enclosed with this letter, and return it

Great Northern Minerals Limited	T: +618 6214	0148
ABN 22 000 002 111	Level 1, 33 Colin Street
www.greatnorthernminerals.com.au	West Perth, WA	6005

916CR_0_Sample_CA/000001/000001

Great Northern Minerals Limited ABN 22 000 002 111 www.greatnorthernminerals.com.au

T: [phone] Level 1, 33 Colin Street West Perth, WA 6005

Monday, 14 March 2022

Friday, 29 April 2022, 2:00pm (AWST)

EVENT

Record Date for establishing Unmarketable Parcels

ASX Announcement regarding Unmarketable Parcel Sale Facility

Shareholder Letter and Retention Form despatched to Unmarketable Parcel holders

Closing date for receipt of completed Retention Forms

DATE

Wednesday, 9 March 2022, 4:00pm (AWST)

Friday, 11 March 2022

personal1. Sell your Unmarketable Parcel

If you WISH TO SELLyour Shares through the Facility, you should TAKE NO ACTION. By refraining from taking any action, you will be deemed to have irrevocably appointed the Company as your agent to:

(a) sell, or procure the sale of, all of your Shares at a price to be determined based on the market price at the time of sale, without any costs being incurred by you; and

(b) deal with the proceeds of the sale in accordance with the Company's Constitution (for more information about the payment of the sale proceeds through Computershare, please refer to Question 9 of the enclosed Information Sheet).

The Company has appointed CPS Capital Group Pty Ltd to facilitate the sale of the Unmarketable Parcel. Payment for your Shares will be remitted to you as soon as practicable, following settlement of the sale of all Shares sold through the Facility.

2. Retain your Unmarketable Parcel

If you DO NOT WISH TO SELLyour Unmarketable Parcel, you MUST OPT-OUTof the Facility by completing and returning the enclosed Retention Form in accordance with the instructions on the Retention Form so that it is received by Computershare

Forprior to the Closing Time. Please carefully read the instructions on the Retention Form before completing it. The key dates in relation to the Facility are set out below:

to the Company's share registry, Computershare Investor Services Pty Limited (Computershare), in accordance with the instructions on the Retention Form, prior to the Closing Time.

If, at the Closing Time, the value of your Shares has increased such that you no longer have an Unmarketable Parcel (e.g. due to an increase in the market price of Shares or the number of Shares you hold), your Shares will NOTbe sold.

onlyIf you have multiple holdings of Shares which, if aggregated, would not constitute an Unmarketable Parcel, you may contact Computershare at 1300 850 505 (within Australia) or [phone] (outside Australia) to amalgamate your holdings. In these circumstances, your Shares will NOTbe sold.

Please also note that, pursuant to Schedule 3 of the Constitution and ASX Listing Rule 15.13.5, the Company will not sell your Shares in the event that a third party announces a takeover offer for the Company.

In accordance with its continuous disclosure obligations, the Company may release information to the ASX which may affect your decision as to whether you wish to have your Shares sold or to retain your Shares. If such information is released, it will usebe published on the ASX website (www.asx.com.au, ASX code: GNM) and on the Company's website

(www.greatnorthernminerals.com.au).

This letter is the first and final notice to holders of Unmarketable Parcels of Shares regarding the Facility.

WHAT DO I NEED TO DO?

As a holder of an Unmarketable Parcel as at the Record Date, your options are described below:

Great Northern Minerals reserves the right to change any of the dates referred to in its ASX announcement dated 11 March 2022 or this letter and the enclosed Retention Form, or to vary, cancel or delay the Facility or the sale of Shares at any time before Shares are sold, by making an announcement to ASX.

The Company does not provide any recommendation or advice as to whether shareholders holding an Unmarketable Parcel

onlyshould sell or retain their Shares.

*I00000102* Enclosed is an Information Sheet to answer questions that you may have with respect to the sale of Unmarketable Parcels.

This letter is important. If you are in doubt about what to do, you should consult your legal, financial or taxation adviser.

If you have any other questions about the operation of the Facility, please contact Computershare Investor Services Pty Limited on 1300 850 505 (within Australia) or [phone] (outside Australia).

Yours faithfully

useAida Tabakovic Company Secretary

Great Northern Minerals Limited personalFor

Great Northern Minerals Limited	T: +618 6214	0148
ABN 22 000 002 111	Level 1, 33 Colin Street
www.greatnorthernminerals.com.au	West Perth, WA	6005

916CR_0_Sample_CA/000001/000002