Quarterly Activities Report – Period Ending 31 October 2019

• Havilah Resources Limited (Havilah or Company) announced on 17 October 2019 a capital raising by way of a 1 for 4 pro-rata non-renounceable Rights Issue to eligible shareholders.
• At the Extraordinary General Meeting of the Company held on 12 September 2019, the resolution for the approval of the proposed investment in Havilah of up to $100 million by OneSteel Manufacturing Pty Ltd (trading as SIMEC Mining), a member of the GFG Alliance, was not passed by shareholders.
• An updated Kalkaroo pre-feasibility study is now planned to be completed during the second quarter of calendar year 2020.
• An exploration agreement to explore the Bassanio Iron Oxide Copper Gold (IOCG) target was entered into with Benagerie Gold & Copper Pty Ltd, a wholly owned subsidiary of Consolidated Mining and Civil Pty Ltd.
• Subsequent to 9 October 2019, a disciplined and focused approach to cost control; optimisation of operating structures; and reprioritisation of exploration spend has been implemented.

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