Comet Resources Reports Quarterly Activities for the Period Ended 31 March 2021

Highlights:

• Successful completion of $1 million placement to strategic investors
• Acquisition of highly prospective copper-gold projects in Northern Territory
• Completion of soil geochemical sampling and commencement of airborne geophysics at the Barraba Copper Project
• Advancing pre-drilling exploration activities and permitting at the Santa Teresa Gold Project

Post Quarter End:
• Graphite metallurgical test work update

Comet Resources Limited (Comet or the Company) (ASX:CRL), is pleased provide the Quarterly Activities Report and Appendix 5B for the quarter ending 31 March 2021 (the Quarter). During the Quarter the Company announced the acquisition of a suite of copper-gold projects in the Northern Territory and completed a placement of $1,000,000 of shares to new strategic investors. The Company also progressed work programs on its Barraba Copper Project and the Santa Teresa Gold Project. Post Quarter end, the Company provided an update regarding the status of ongoing metallurgical test work on graphite from its Springdale Graphite Project located in Western Australia.

Matthew O’Kane, Managing Director of Comet Resources, commented “We had a busy Quarter, with exploration programs being advanced at the Barraba and Santa Teresa Projects, as well as acquiring some very prospective new copper-gold projects in the Northern Territory and
completing a financing with strategic investors. We also provided an update on progress on the metallurgical test program for Springdale, which we plan to complete in Q3. In Q2 we will have the results from the initial geophysics program at Barraba shortly, and will then plan
the next stage of exploration works for that project. At Santa Teresa we are ready to move ahead with drilling once the permit is issued. Once we finalise the acquisition of the Northern Territory projects we aim to get into the field, subject to availability of geological staff. So,
it’s a busy period ahead of us also.”

For the full press release, click here.