ALCHEMY RESOURCES LIMITED — Capital/Financing Update 2015

Sep 13, 2015

ASX RELEASE

14 September 2015

ASX :PNN

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----- Start of picture text ----- QUEENSLANDROBINSONRANGE MUSGRAVESIRON ORE----- End of picture text -----

ROBINSON RANGE IRON ORE JOINT VENTURE ACTIONS

PepinNini Minerals Limited (PNN) has negotiated a withdrawal from the Robinson Range and Jackson Iron Ore joint ventures and the transfer of interest to joint venture partners. PepinNini will retain a Gross Iron Ore Royalty.

PepinNini Robinson Range Pty Ltd(PRR), the wholly owned subsidiary of PepinNini Minerals Ltd will receive a 1% Gross Iron Ore Royalty from Grosvenor Gold Pty Ltd(GG), a wholly owned subsidiary of RNI NL(ASX:RNI) in return for the transfer of interest in one tenement and from Alchemy Resources Ltd(ASX:ALY) in return for the transfer of interest in a second tenement of the Robinson Range Iron Ore joint venture. A third tenement was agreed for surrender by joint venture partners.

In relation to the Jackson Iron Ore Joint Venture; PRR will receive a 0.8% Gross Iron Ore Royalty from GG for the transfer of interest in four tenements that GG shares with Jackson Minerals Ltd, a wholly owned subsidiary of Fe Ltd who retain a 20% Free Carried Interest in the tenements.

Formal documentation to give effect to the transactions is being prepared and a further announcement will be made once this has been signed.

All tenements are in the exploration stage of development.

The collapse of iron ore prices and the forward projections of the iron ore commodity market based on increased mine supply by the major global producers have compelled PepinNini to re-assess the value of the Robinson Range Iron Ore Project within its project portfolio.

PepinNini will continue to focus on its Musgrave Project in both SA and WA and on projects in QLD and Argentina.

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