13 JUNE 2023

CLA and Silvercorp Metals Inc. extend period of exclusivity

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Celsius Resources Limited ("CLA", "Celsius" or the "Company") (ASX:CLA, AIM"CLA) is pleased to announce that further to the non-binding term sheet ("Term Sheet") signed with Silvercorp Metals Inc. as announced on 15 May 2023, the parties have agreed to extend the period of exclusivity of the Term Sheet.

The period of exclusivity in the Term Sheet, as announced on 15 May 2023, was for a period of one-month which commenced on 2 May 2023. CLA and Silvercorp Metals Inc. have signed a variation to the Term Sheet so that the period of exclusivity will expire on 2 July 2023, being the date that is two months from signing by both parties of the Term Sheet.

This announcement has been authorised by the Board of Directors of Celsius Resources Limited.

The information contained within this announcement is deemed by Celsius to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.

Celsius Resources Contact Information

Level 5, 191 St. Georges Terrace

Perth WA 6000

PO Box 7059

Cloisters Square PO

Perth WA 6850

P: +61 2 8072 1400

E: [email protected]

W: www.celsiusresources.com

   SP Angel                                                                                                     +44 (0) 203 470 0470

   (Broker)

   John Meyer/Ewan Leggat/Harry Davies-Ball