General Announcement::Receipt of LQN from SGX-ST

ANCHOR RESOURCES LIMITED

(Company Registration Number 201531549N)

(Incorporated in the Republic of Singapore)

1. SETTLEMENT OF S$3,500,000 LOAN AND ALL ACCRUED INTEREST THEREON OF S$116,667 BY WAY OF ISSUANCE OF 2,427,293,288 NEW ORDINARY SHARES IN THE CAPITAL OF THE COMPANY AT AN ISSUE PRICE OF S$0.00149 PER SHARE; AND
2. PAYMENT OF INTRODUCER FEE OF S$262,500 BY WAY OF ISSUANCE OF 176,174,497 NEW ORDINARY SHARES IN THE CAPITAL OF THE COMPANY AT AN ISSUE PRICE OF S$0.00149 PER SHARE

• RECEIPT OF LISTING AND QUOTATION NOTICE FROM THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED

The board of directors (the "Board" or "Directors") of Anchor Resources Limited (the "Company", and together with its subsidiaries, the "Group") refers to the Company's announcement dated 30 December 2020 and its circular to shareholders dated 25 January 2021 (the "Circular") in respect of, amongst others, (i) the proposed settlement of the unsecured term loan of S$3,500,000 and all accrued interest thereon of S$116,667 by way of issuance of 2,427,293,288 new ordinary shares in the capital of the Company ("Settlement Shares") at an issue price of S$0.00149 ("Issue Price") per Settlement Share ("Settlement Share Issue"); and (ii) the payment of the Introducer Fee of S$262,500 by way of issuance of 176,174,497 new Shares ("Introducer Shares") at the Issue Price per Introducer Share ("Introducer Share Issue", and collectively with the Settlement Share Issue, the "Proposed Transactions").

Unless otherwise defined, all capitalised terms used herein shall bear the same meanings ascribed to them in the Circular.

The Board is pleased to announce that the Company has, on 29 January 2021, received the listing and quotation notice ("LQN") from the Singapore Exchange Securities Trading Limited ("SGX-ST") for the listing and quotation of 2,427,293,288 Settlement Shares and 176,174,497 Introducer Shares on the Catalist subject to the following:

1. compliance with the listing requirements of the SGX-ST for the Settlement Shares and the Introducer Shares; and
2. prior Shareholders' approval for the issuance of the Settlement Shares, the Introducer Shares, and the Proposed Transactions to be obtained at a meeting to be convened.

The LQN is not to be taken as an indication of the merits of the Settlement Shares, the Introducer Shares, the Company and/or its subsidiaries.

1

As stated in the Circular, the Company is convening the EGM on 9 February 2021 at 10:00 a.m. by way of electronic means to seek the approval of its Shareholders for, amongst others, the issuance of the Settlement Shares, the issuance of the Introducer Shares, and the Proposed Transactions. The Company will make further announcement(s) as and when there are material developments.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the Company's securities. When in doubt, shareholders and potential investors are advised to seek independent advice from their bankers, stockbrokers, solicitors or other professional advisers.

By Order of the Board

Mr. Chua Ser Miang

Non-Executive Chairman and Lead Independent Director

29 January 2021

This announcement has been prepared by Anchor Resources Limited (the "Company") and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Lance Tan, Senior Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone [phone].

2