ADVANCE METALS LIMITED — Capital/Financing Update 2016

Nov 24, 2016

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25 November 2016

ASX Market Announcements Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

ASX Announcement – For immediate release

Pacific American Coal Limited - Non-Renounceable Pro-Rata Entitlement Offer

As announced to the ASX on Friday 21 October 2016, Pacific American Coal Limited (ASX: PAK) ( Company ) is undertaking a pro-rata non-renounceable entitlement offer of one (1) New Share in the Company for every eight (8) fully paid ordinary shares held in the Company at an issue price of $0.10 per New Share (together with one (1) attaching New Option for every two (2) New Shares subscribed for and issued) to raise up to approximately AUD$1,800,000 (before costs) ( Entitlement Offer ).

PAK is extending the closing date of the Entitlement Offer by one week.

Applications will now be accepted until 5.00 pm (Sydney time) on Wednesday, 7 December 2016. The revised key dates for the Entitlement Offer are set out below.

New Timetable

The Company expects the Entitlement Offer to be conducted in accordance with the following timetable:

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----- Start of picture text ----- Event DateMarket Announcement of the Entitlement Offer and cleansing Friday 21 October 2016notice lodgedNotice to option holders that they cannot participate in the Wednesday 2 November 2016Entitlement Offer without first exercising their optionsNotice containing Appendix 3B details and indicative timetable Thursday 3 November 2016sent to shareholdersShares trade on an "ex Entitlement” basis Tuesday 8 November 2016Record Date for determining eligibility to participate in the Wednesday 9 November 2016Entitlement Offer (7.00 pm AEDT)Offer Document and Entitlement and Acceptance Forms Friday 11 November 2016despatched to Eligible Shareholders and announce despatchhas occurredEntitlement Offer opens Friday 11 November 2016Last day to extend the closing date Friday 2 December 2016----- End of picture text -----

Pacific American Coal Limited ABN 83 127 131 604

Level 14, 52 Phillip Street, Sydney NSW 2000. GPO Box 3486, Sydney NSW 2001

www.pamcoal.com

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----- Start of picture text ----- Event DateEntitlement Offer closes – last date for lodgement of Wednesday 7 December 2016Entitlement and Acceptance Forms and payment ofapplication money in full (5.00 pm Sydney time)Deferred settlement trading of New Shares commences Thursday 8 December 2016Announcement of Entitlement Offer shortfall Monday 12 December 2016Allotment of New Shares and New Options issued under Wednesday 14 DecemberEntitlement Offer and dispatch of holding statements for New 2016Shares. Deferred settlement trading endsCommencement of trading of New Shares and New Options on Thursday 15 December 2016ASX on a normal basis----- End of picture text -----

Note : the timetable is indicative only and may change. The Company reserves the right to vary the above dates, subject to the requirements of the ASX Listing Rules and the Corporations Act.

For further information please contact: Mark Sykes Pacific American Coal Limited Chief Executive Officer Tel: +61 (2) 9252-5300 Ian Morgan Fax: +61 (2) 9252-8400 Company Secretary More details are available on PAK‘s website www.pamcoal.com

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