ADVANCE METALS LIMITED — Capital/Financing Update 2016

Nov 20, 2016

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21 November 2016

ASX Market Announcements

Palaris engaged to deliver Elko Coking Coal Project Scoping Study

• Palaris Australia Pty Ltd have been engaged to deliver a Scoping level study at Elko

• Scoping Study scheduled to be delivered in Q1 CY2017

• Scoping study to leverage the Hatch mine-site modelling work

Pacific American Coal limited ( ASX:PAK ) is pleased to announce the Company has engaged Palaris Australia Pty Ltd (Palaris) to deliver a Scoping Study at the Elko Coking Coal Project.

PAK’s Director Mr Paul Chappell said, “The Scoping Study will provide a preliminary assessment of the technical and commercial viability of the Elko Coking Coal Project and potential pathways to development. The Scoping Study is scheduled to be delivered in the first quarter of calendar 2017 and confirms the Company’s commitment to advancing the Elko Coking Coal Project.“

Palaris Deliverables

Palaris will build on the work completed by Hatch with a focus on:

• Financial Evaluation

• Geology and Resources

• Opencut and Underground Mine Planning

• Mine Equipment and Underground Infrastructure

• Coal Handling and Processing

• Mine Facilities, Onsite Service and Infrastructure

• Project Delivery Schedule

About Palaris

Palaris has been working with resources industry for over 17 years - with a particular focus on coal. As a trusted advisor they maintain a proud record of providing a quality result every time. Palaris’ prides itself in being different to other advisory organisations, having completed more than 2,500 projects to date in over 25 countries across 15 different commodity types. Palaris’ people have strong operational backgrounds and understand the requirements of day to day operations, which allows them to quickly identify opportunities for improvement and deliver optimised outcomes. Palaris’ approach is different to other consulting firms as they offer the combination of a strong technical foundation with a robust financial overlay. At Palaris, they pride themselves in providing insightful analysis and pragmatic recommendations, leaving their clients with options that are both technically feasible and financially viable.

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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The Company looks forward to updating shareholders on the progress of the Scoping Study.

For further information please contact:

Mark Syke s Dom Hill Chief Executive Officer Business Development Manager Australia North America

Pacific American Coal Limited - Tel: +61 (2) 9252-5300, Fax: +61 (2) 9252-8400

More details are available on PAK‘s website: www.pamcoal.com

Pacific American Coal Limited ABN 83 127 131 604 Level 14, 52 Phillip Street, Sydney NSW 2000. GPO Box 3486, Sydney NSW 2001

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www.pamcoal.com