Sundance Resources Limited (ASX: SDL) ('Sundance' or the 'Company') provides the following market update on the Agreement with AustSino Resources Group Ltd ('AustSino') and the noteholders in Sundance ('Noteholders') ('Sundance Agreement') as announced on 8 July 2019 and later updated on 6 July 2020 with the signing of a new extension letter agreement between AustSino and Sundance to extend the Sundance Agreement to 30 September 2020 ('Further Extension Letter').

On 20 July 2020 Sundance announced that it was waiting on further evidence that the required bank processes, which need to be undertaken by AustSino in order for the funding under the Sundance Agreement to be available, are being advanced.

Sundance is pleased to announce that the bank processes have commenced but are not advanced far enough for Sundance to provide AustSino with the agreed release. Sundance will keep monitoring progress and update shareholders as the situation evolves.

This outcome does not affect the implementation of the Sundance Agreement which requires the satisfaction of various conditions precedent.

As per the Company's announcement on 21 July 2020 the Sundance shareholders' Extraordinary General Meeting, which was adjourned on 29 June 2020, has now been reconvened to Wednesday, 29 July 2020 at 10:00am (Perth time) at the Celtic Club, 48 Ord Street, West Perth.

Contact:

Tel: +61 8 9220 2300

Email: info@sundanceresources.com.au

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