Accelerate Resources Limited (ASX: AX8) ('AX8' or the 'Company') is pleased to announce that, following the lodgement of the Company's income tax return for the year ending 30 June 2022, the Company will issue a total of $220,105 Junior Minerals Exploration Incentive (JMEI) Tax Credits to Eligible Shareholders who received new Accelerate shares through participation in the Capital Raising (Eligible Shareholders). The JMEI scheme enables eligible exploration companies to create refundable tax credits to distribute to eligible shareholders by forgoing a portion of their carried forward tax losses that have arisen from allowable expenditure on 'greenfield' exploration.

Further information about the JMEI credit scheme can be found at the ATO website: https://www.ato.gov.au/business/junior-minerals-exploration-incentive/what-to-do-ifyou-receive-exploration-credits/.

Contact:

Yaxi Zhan

Managing Director

E: Admin@AX8.com.au

P: +61 8 6248 9663

W: www.AX8.com.au

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