New Age Exploration (ASX: NAE) (NAE or the Company) is pleased to announce that it has signed a binding share sale agreement (SSA) with Paladar Trading Ltd (Paladar) for the sale of 100% of the issued capital of its wholly owned subsidiary, Lochinvar Coal Limited (Lochinvar) (incorporated in the UK) (Transaction), which holds the following licences comprising the Lochinvar Coal Project located in the UK: Subject to satisfaction or waiver of the conditions precedent, the parties to the SSA intend to enter into a definitive royalty agreement in respect of the Royalty at completion of the SSA.

The sale of the Lochinvar Project allows NAE to focus resources on its core gold and lithium assets located in Central Pilbara, Western Australia and New Zealand.

NAE Executive Director Joshua Wellisch commented: 'We are pleased to announce the sale of Lochinvar Coal Limited, a strategic move that positions NAE to potentially earn up to A$15 million in royalties from future coal production at the project, subject to the successful development of the project by Paladar. This transaction enables us to focus on advancing our promising gold and lithium projects in Central Pilbara, Western Australia, and New Zealand.

Contact:

Joshua Wellisch

Executive Director

Tel: +61 3 9614 0600

Email: joshua@nae.net.au

Mark Flynn

Investor Relations

Tel: +61 416 068 733

Email: mark.flynn@nae.net.au

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