Reminder to Shareholders of Annual General Meeting October 27, 2021

VANCOUVER, Oct. 19, 2021 - Macarthur Minerals Ltd. (ASX: MIO) (TSX-V: MMS) (OTCQB: MMSDF) (the "Company" or "Macarthur") would like to remind its shareholders to vote at the upcoming Annual General Meeting ("AGM") of the shareholders of Macarthur Minerals Ltd. to be held on Wednesday, October 27, 2021, at 10.00am Australian Eastern Standard Time ("AEST").

Annual General Meeting Reminder

The health and wellbeing of our shareholders is of paramount importance to us. The Company is closely monitoring the impact of the COVID-19 pandemic and observing guidance from the Federal and State Governments. This year, with COVID-19 still an ongoing health concern, we will be holding the AGM online and Shareholders and proxyholders can participate in the proceedings online in real time, by registering for the AGM live webcast. It is important that you have the opportunity to communicate your views to us and you are encouraged to participate in the meeting by voting, watching our live webcast and asking questions in the manner described in the Notice of Meeting. For registration of the AGM live webcast and submission of questions, follow the links at www.macarthurminerals.com here

The complete AGM meeting materials and proxy forms are located on www.macarthurminerals.com here or on Sedar https://www.sedar.com/.

Your vote is important

Whether or not you plan to virtually attend the AGM, please vote as soon as possible by one of the methods described in the proxy materials for the AGM to ensure that your shares are represented and voted at the AGM.

Deadline for receipt of Proxies

Proxy forms must be lodged with the Company in Australia by 7:00 a.m. on Monday, October 25, 2021 (Australian Eastern Standard Time) or Friday, October 22, 2021 at 5:00 pm (Eastern Daylight Time) or 2:00 p.m. (Pacific Daylight Time).

For shares held in Australia:

• voting is available online here (quoting Control Number 135583)
  If voting online, you will also be required to enter your SRN/HIN and postcode; or by
  

• completing the Proxy form (click here to download the proxy form) and emailing a scanned copy back to communications@macarthurminerals.com or service@computershare.com at your earliest convenience.
  

For shares held in Canada:

• voting is only available via the Proxy form for registered holders. Registered holders can complete the Proxy form (click here to download the Proxy form) and email a scanned copy back to communications@macarthurminerals.com and the Company Proxy Solicitor Laurel Hill at assistance@laurelhill.com
  
  
• voting for non-registered holders, for shares purchased through a brokerage firm or clearing agency such as CDS refer to Proxy form for details (click here to download the Proxy form).
  

On our website, you will find complete meeting materials, proxy forms and instructions on how to join the AGM online and submit questions. We encourage you to cast votes and lodge questions ahead of the meeting at www.macarthurminerals.com.

If any shareholder has not received their Annual General Meeting package in the mail or via email, please contact the Company at communications@macarthurminerals.com or the Company's transfer agent and registrar at:

General Shareholder Inquiries Canada:

General Shareholder Inquiries Australia:

The investors section offers enrolment for self-service account management for registered shareholders through Investor Centre.

If shareholders wish to attend the Meeting in person, they will need to contact the Company Secretary, Ms Mima Wirakara (email: mwirakara@macarthurminerals.com) in order for the Company to ensure it is able to maintain compliance with COVID-19 related restrictions applicable as at the Meeting date.

Voting at the Meeting will only be available for Registered Shareholders and duly appointed proxyholders. Non-registered shareholders who have not appointed themselves may attend the meeting by clicking "I am a guest" and completing the online form on the Company website www.macarthurminerals.com here.

On behalf of the Board of Directors, Mr Cameron McCall, Chairman

For more information please contact:

Company profile
Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Lake Giles Iron Project mineral resources include the Ularring hematite resource (approved for development) comprising Indicated resources of 54.5 million tonnes at 47.2% Fe and Inferred resources of 26 million tonnes at 45.4% Fe; and the Lake Giles magnetite resource of 53.9 million tonnes (Measured), 218.7 million tonnes (Indicated) and 997 million tonnes (Inferred). The JORC reporting tables and Competent Person statement for the magnetite and hematite mineral resources have previously been disclosed in ASX market announcements dated 12 August 2020 and 5 December 2019. Macarthur has prominent (~721 square kilometre tenement area) gold, lithium and copper exploration interests in Pilbara region of Western Australia. In addition, Macarthur has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.

This news release is not for distribution to United States services or for dissemination in the United States

Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding expected completion of the Feasibility Study; conversion of Mineral Resources to Mineral Reserves or the eventual mining of the Project, are forward-looking statements. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: unforeseen technology changes that results in a reduction in iron or magnetite demand or substitution by other metals or materials; the discovery of new large low cost deposits of iron magnetite; the general level of global economic activity; failure to complete the FS; inability to demonstrate economic viability of Mineral Resources; and failure to obtain mining approvals. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.