Letter to Shareholders

Dear Stakeholders We are excited to share important Navarre Minerals Limited (ASX: NML) updates with you.

We have successfully raised $1.7m in convertible debt to exit external administration and re-comply with all ASX reporting standards.

New director team, including Richard Taylor and Angela Lorrigan, has significantly contributed to our progress. To further enable exploration activities, we are undertaking a Capital Raise priced at $0.10 per share to raise between $4m and $6m.

Existing shareholders have the first opportunity to fund this raise.

Dunkeld Pastoral Co Pty Ltd has committed $1m as a cornerstone investor, highlighting confidence in our future. A share consolidation on a 500:1 basis to restructure our capital efficiently has been proposed.

Our AGM on 1 November 2024 will play a crucial role in supporting our recapitalisation efforts.

We appreciate your continued support during this transitional phase. For more information or to address any questions you may have, listen into the below webinar.

Regards, James Gurry Managing Director and Interim Chair Navarre Minerals Limited