ALCHEMY RESOURCES LIMITED — Capital/Financing Update 2017

Apr 25, 2017

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ASX

ANNOUNCEMENT

26 APRIL 2017

Placement and Non-Renounceable Rights Issue to fund drilling of high priority gold targets at Karonie, and high grade gold-silver targets at Overflow

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CODE: ALY

BOARD OF DIRECTORS

SUMMARY

Mr Oscar Aamodt Non-Executive Chairman

Mr Leigh Ryan Managing Director

Ms Liza Carpene Non-Executive Director

• 1 for 3 non-renounceable rights issue at an offer price of 1.5c per share to raise up to $1.15M.

• Simultaneous placement of 34.6M shares at 1.5c per share to sophisticated and professional investors raising $0.52M before costs .

Mr Lindsay Dudfield Non-Executive Director

Mr Anthony Ho Non-Executive Director

• Funds to be used to undertake drilling of high priority gold targets at Karonie in Western Australia, and high grade gold-silver targets at Overflow in the Cobar Basin, NSW.

ISSUED CAPITAL

SHARES 230,788,035 OPTIONS 10,500,000 (Unlisted)

PROJECTS

BRYAH BASIN (80-100%) KARONIE (100%)

LACHLAN (earning up to 80%)

• Follow-up RC drilling at the Esplanade, Taupo, and KZ5 prospects.

• 10,000m of first-pass and follow-up aircore drilling planned across high priority SRK Consulting prospectivity study target areas including the Gilmore and Aldiss prospects.

• Diamond drilling of bullseye EM conductivity anomaly down plunge of high grade gold-silver targets at the Overflow Prospect.

Suite 8, 8 Clive Street WEST PERTH WA 6005

Phone: +61 8 9481 4400 Facsimile: +61 8 9481 4404 www.alchemyresources.com.au

• Drilling to commence as soon as statutory and Native Title permissions have been received and drill site access prepared.

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Alchemy Resources Limited (ASX: ALY ) ( Company ) is pleased to advise that it will be conducting a pro-rata non-renounceable Entitlement Offer ( Offer ) to all eligible shareholders to raise up to $1,153,940 (before costs). The Offer will be conducted on the basis of one (1) new fully paid ordinary share ( Share ) for every three (3) Shares held by eligible shareholders on 1 May 2017 at an issue price of $0.015 per Share.

The Company has also received commitments for a placement to sophisticated investors to raise $519,273 (before costs) by the issue of 34,618,205 shares at an issue price of $0.015 per share ( Placement ). The Placement Shares will be issued after the record date for the Offer and Participants in the Placement will not be eligible to participate in the Offer. The funds raised from the Offer and Placement will be used for further exploration work, working capital and to cover the costs of the Offer.

The Company is pleased to advise that it has secured the support of Northern Star Resources Limited (ASX: NST), a major shareholder of the Company, who has agreed to subscribe for $250,000 in aggregate under the Offer and the Placement.

The funds raised in this Issue will be used for drilling activities within the WA and NSW gold and base metal projects as follows, and is scheduled to commence as soon as possible:

• WA: Following the grant of four exploration licences covering 250km[2] within the Company’s Karonie Project , and the review of data from these tenements, several highly prospective gold targets have been delineated and now require drill testing. The Company plans to conduct Reverse Circulation (RC) drilling of several high-grade gold targets at the Esplanade, Taupo, and KZ5 prospects, and to conduct aircore drilling in order to test seven high priority target areas along strike of known gold mineralisation.

• NSW: Diamond drill testing of a high priority bullseye airborne EM conductivity target located directly down plunge of high-grade gold-silver intercepts returned from initial drilling at the Overflow Prospect (NSW) is planned subsequent to a ground EM survey. RC drilling of several gold-copper-lead-zinc in soil anomalies associated with gossanous outcrop and/or old workings to the north and south of the Overflow Prospect is also planned.

The issue price of $0.015 per new Share represents a 19.46% discount to the volume weighted average market price of Alchemy’s shares for the twenty (20) trading days to the close of trade on 20 April 2017, being the last trading day prior to this announcement. The new shares issued under the Offer will rank equally with existing shares. In addition to their entitlement, eligible shareholders may also apply for shortfall.

The Offer is made under a prospectus that has been lodged with ASIC and which is available on both the ASX website (www.asx.com.au) and on the Company’s website (www.alchemyresources.com.au). Eligible shareholders should consider the Prospectus in deciding whether to acquire shares under the Offer, and complete the personalised Entitlement and Acceptance Application Form that will accompany the Prospectus.

The proposed timetable for the Issue is set out below.

The proposed timetable for the Issue is set out below.
Announcement of Entitlement Offer and Lodgement of Prospectus with ASX	26 April 2017
Shares quoted on an “EX” basis	28 April 2017
Record Date for determining Entitlements	1 May 2017
Prospectus and Entitlement and Acceptance Form dispatched to Eligible Shareholders.	4 May 2017
Offer opens for receipt of Applications.
Closing Date of Entitlement Offer (5pm WST)	22 May 2017
Shares quoted on a deferred settlement basis	23 May 2017

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Anticipated date for issue of Securities. Deferred settlement trading ends.

Anticipated date for issue of Securities. Deferred settlement trading ends. 29 May 2017 Trading of New Shares expected to commence 30 May 2017

The Directors may extend the Closing Date by giving at least three (3) business days’ notice to ASX prior to the Closing Date. As such the date the new Shares are expected to commence trading on ASX may vary. An Appendix 3B for the Offer is attached.

Karonie Gold Project

Four exploration licences have now been granted covering 250km[2] of highly prospective mineralised structures within Kurnalpi Terrain greenstones 100km east of Kalgoorlie (Figure. 1). The granted tenements are located along strike of Silver Lake Resources Ltd’s (ASX: SLR) Harry’s Hill, French Kiss and Spice reserves and resources of 370,000oz @ 2.24g/t Au and within 50km of Silver Lake’s Mt Monger / Randalls processing plant. In addition, five exploration licence applications (530km[2] ) due to be granted later this year, cover the under-explored, gold endowed Claypan Fault along strike to the south of the Bombora deposit (Breaker Resources NL) (ASX: BRB), and the fertile Aldiss Fault that hosts the Terra and Roe 1 mineralisation (Kairos Minerals Ltd) (ASX: KAI) (Figure 1).

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Figure 1 : Karonie Project tenements, major deposits, prospects and interpreted major structures over aeromagnetic image

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Open file data compilation work by Alchemy, and a comprehensive review of all data previously generated within the Karonie Project, including geological and regolith mapping, geochemical and geophysical surveys, and aircore/RC/diamond drilling data has resulted in a better understanding of the likely source and location of high grade gold mineralisation within the Project area.

The review has identified numerous historical gold intercepts that require follow-up drilling. RC drilling is planned within three target areas that include the following intercepts (Refer to Alchemy ASX Announcement dated 28 October 2016) :

Esplanade Prospect

• 9m @ 3.0g/t Au from 61m (LPAC083)

• 8m @ 3.4g/t Au from 38m (LPAC035)

• 5m @ 2.9g/t Au from 101m (LPRC5)

Taupo Prospect

• 6m @ 1.94g/t Au from 74m to EOH (TRRC2)

• 10m @ 2.55g/t Au from 30m (TRRC6)

• 22m @ 1.06g/t Au from 42m (TRRC6)

KZ5 Prospect

• 20m @ 1.58g/t Au from 190m (KZRC040D)

• 12m @ 1.37 g/t Au 0.71% Zn from 42m (KZD001)

Both the KZ5 and Taupo prospects have been very sparsely tested with minimal drilling along strike and down dip. Significantly, most of the mineralisation at KZ5 and Taupo is hosted within dolerite, similar to the Breaker Resources NL Bombora deposit.

A prospectivity study completed by SRK Consulting has been used to assist the planning of over 10,000m of first pass and follow-up aircore drilling across seven high priority target areas within the currently granted Alchemy tenure. The prospectivity study uses Minerals System Analysis and Weights of Evidence Analysis to identify targets for gold mineralisation. Minerals System Analysis focusses on generalised gold mineralisation system knowledge including source, pathway, focus and trap site criteria (Figure 2 - left). Weights of Evidence Analysis uses local gold deposit information including prospective rock types, structures, drilling geochemistry, soil geochemistry, and geophysics (Figure 2 - right). The study clearly indicates areas of higher prospectivity that warrant future exploration focus. These are represented by the “hot” coloured areas in Figure 2 below and include the Gilmore and Aldiss target areas (refer to Alchemy ASX Announcement dated 6 April 2017).

Drilling is to commence as soon as statutory and Native Title permissions have been received, and drill site access has been prepared.

The review has also confirmed that no drilling and limited effective soil sampling has been completed over the strip of greenstones and corresponding, highly prospective, Claypan Fault within the north-eastern part of the Project area. Exploration of this area will commence as soon as the licences covering this area have been granted.

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Figure 2 : Karonie Project: mineralised systems prospectivity map (left), and combined evidence weighted probability map (right), (modified from open file SRK “Prospectivity Study for the Aldiss Project Area” report dated December 2014 prepared for Silver Lake Resources).

Overflow Gold-Silver Project

Subsequent to some excellent results from Alchemy’s initial diamond drill hole (OFDD-001) at the Overflow gold-silver prospect in the Cobar Basin, NSW (Figure 3), including 18m @ 2.1g/t Au, 111g/t Ag, (4.6g/t AuEq) from 245m and 3m @ 7.3g/t Au, 43g/t Ag, (13.3g/t AuEq) from 286m, the Company plans to complete a surface EM survey over the strong airborne EM conductivity anomaly identified down plunge of the known high grade mineralisation. This survey will better define the target and, subject to geophysical modelling, Alchemy intends to complete a deep diamond hole in order to test the anomaly at approximately 350m below surface (Figure 3) (Refer to Alchemy ASX Announcement dated 29 March 2017) .

Gold equivalent (AuEq) values assigned to each drilling intersection refer to the calculated gold equivalent grade (AuEq g/t) based on Au, Ag, Cu, Zn and Pb grades using the following formula: AuEq (g/t) = Au (g/t) + Ag0.015 (g/t) + Cu1.33 (%) + Pb0.5 (%) + Zn*0.63 (%). The AuEq calculation takes into account the following March 2017 metal prices: Au US$1200/oz, Ag US$17.5/oz, Cu US$2.60/lb = $0.16/oz, Pb US$1.00/lb = $0.06/oz and Zn US$1.20/lb = $0.075/oz.

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----- Start of picture text -----

Open Down Plunge
Strong EM anomaly
down plunge of high
grade intercepts
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Figure 3 : Overflow Prospect 3D view looking down to the NW showing grade x thickness shells of AuEq intersections (red = >50gxm AuEq, orange dots = >30gxm AuEq), historic drilling (traces coloured by Au and Cu grades), OFDD001 and planned deep diamond drill hole (magenta lines) over VTEM conductivity slices (150m, 350m and 550m below surface).

The diamond hole can be drilled as soon as an EAA (Exploration Activity Application) is approved by the NSW Department of Resources and Energy. The Company also plans to drill approximately 500m of reverse circulation drilling in order to test three gold/copper/lead/zinc in soil anomalies associated with gossanous outcrop and/or old workings to the north and south of the Overflow Prospect.

For further information please contact:

Mr Leigh Ryan Managing Director Telephone: +61 8 9481 4400 Email: leigh@alchemyresources.com.au __________________

COMPETENT PERSONS STATEMENT

The information in this report that relates to Targets and Exploration Results is based on and fairly represents information compiled by Mr Leigh Ryan, who is the Managing Director of Alchemy Resources Limited. Mr Ryan is a Member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2012’). Mr Ryan consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Alchemy Resources confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement/s referred to.

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Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

ALCHEMY RESOURCES LIMITED

ABN

17 124 444 122

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of+securities issued or to be issued 2 Number of+securities issued or to be issued (if known) or maximum number which may be issued 3 Principal terms of the+securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Fully Paid Ordinary Shares
	76,929,345
	The shares will rank equally with existing fully paid ordinary shares

• See chapter 19 for defined terms.

Appendix 3B Page 1

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Appendix 3B New issue announcement

4 Do the[+] securities rank equally in Yes all respects from the[+] issue date with an existing[+] class of quoted +securities? If the additional[+] securities do not rank equally, please state:  the date from which they do  the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment  the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or consideration 1.5 cents per share 6 Purpose of the issue Pro-rata non-renounceable rights issue to fund (If issued as consideration for the an exploration program to drill test several high acquisition of assets, clearly priority gold targets at the Company's Karonie identify those assets) Project in WA, and to drill test priority gold and base metal targets at the Overflow goldsilver prospect in NSW and for general working capital purposes. 6a Is the entity an[+] eligible entity that Yes has obtained security holder approval under rule 7.1A? If Yes, complete sections 6b – 6h in relation to the[+] securities the subject of this Appendix 3B , and comply with section 6i 6b The date the security holder 24 November 2016 resolution under rule 7.1A was passed 6c Number of +securities issued Nil without security holder approval under rule 7.1 6d Number of[+] securities issued with Nil security holder approval under rule 7.1A

• See chapter 19 for defined terms.

Appendix 3B Page 2

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Appendix 3B New issue announcement

6e Number of+securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting) 6f Number of+securities issued under an exception in rule 7.2 6g If+securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation. 6h If+securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements 6i Calculate the entity’s remaining issue capacity under rule 7.1 and rule 7.1A – complete Annexure 1 and release to ASX Market Announcements 7 +Issue dates Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item 33 of Appendix 3B. 8 Number and +class of all +securities quoted on ASX (_including_the+securities in section 2 if applicable)	Nil	Nil
	Nil
	Not applicable
	Not applicable
	See Annexure 1
	29 May 2017
	Number	+Class
	307,717,380	Fully paid ordinary shares

• See chapter 19 for defined terms.

Appendix 3B Page 3

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Appendix 3B New issue announcement

9 Number and +class of all +securities not quoted on ASX (_including_the+securities in section 2 if applicable) 10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests) art 2 - Pro rata issue 11 Is security holder approval required? 12 Is the issue renounceable or non- renounceable? 13 Ratio in which the+securities will be offered 14 +Class of+securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions 18 Names of countries in which the entity has security holders who will not be sent new offer documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations	Number	+Class
	1,500,000 1,500,000 7,500,000	Options exercisable at: $0.10 on or before 31 Oct. 2017 $0.20 on or before 31 Oct. 2017 $0.10 on or before 31 May 2019
	No dividend policy is currently in place as the Company is involved only in exploration
	No Non-renounceable 1 new share for every 3 shares held Fully paid ordinary shares 1 May 2017
	Not applicable
	Fractional entitlements will be rounded up
	All countries except Australia and New Zealand
	22 May 2017

Part 2 - Pro rata issue

• See chapter 19 for defined terms.

Appendix 3B Page 4

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Appendix 3B New issue announcement

20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders 25 If the issue is contingent on security holders’ approval, the date of the meeting 26 Date entitlement and acceptance form and offer documents will be sent to persons entitled 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if applicable) 29 Date rights trading will end (if applicable) 30 How do security holders sell their entitlements_in full_through a broker? 31 How do security holders sell_part_of their entitlements through a broker and accept for the balance?	Not applicable
	Not applicable
	Not applicable
	Not applicable
	Not applicable
	Not applicable
	4 May 2017
	26 April 2017
	Not applicable
	Not applicable
	Not applicable
	Not applicable

• See chapter 19 for defined terms.

Appendix 3B Page 5

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Appendix 3B New issue announcement

• 32 How do security holders dispose of Not applicable

• their entitlements (except by sale through a broker)?

• 33 +Issue date 29 May 2017

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of[+] securities ( tick one )

• (a) +Securities described in Part 1 Note only Fully Paid Ordinary Shares. Options are Unlisted

• (b)[All other ][+][securities ]

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or Not applicable documents

35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders 36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37 A copy of any trust deed for the additional[+] securities

• See chapter 19 for defined terms.

Appendix 3B Page 6

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Appendix 3B New issue announcement

Entities that have ticked box 34(b)

• 38 Number of[+] securities for which +quotation is sought

• 39 +Class of +securities for which quotation is sought

• 40 Do the[+] securities rank equally in all respects from the[+] issue date with an existing[+] class of quoted[+] securities? If the additional[+] securities do not rank equally, please state:  the date from which they do  the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another[+] security, clearly identify that other[+] security) Number +Class

• 42 Number and[+] class of all[+] securities quoted on ASX ( including the +securities in clause 38)

• See chapter 19 for defined terms.

Appendix 3B Page 7

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Appendix 3B New issue announcement

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted[+] quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

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Sign here: ................................................... Date: 26 April 2017 ( ~~Director~~ /Company Secretary)

Print name: Bernard Crawford

• See chapter 19 for defined terms.

Appendix 3B Page 8

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Appendix 3B New issue announcement

Appendix 3B – Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A for eligible entities

Introduced 01/08/12 Amended 04/03/13

Part 1 – Note this may change upon completion of the rights issue

Rule 7.1 – Issues exceeding 15% of capital

Step 1: Calculate “A”, the base figure from which the placement capacity is calculated

• Insert number of fully paid[+] ordinary 228,788,035 securities on issue 12 months before the + issue date or date of agreement to issue Add the following: • Number of fully paid[+] ordinary securities Nil issued in that 12 month period under an exception in rule 7.2

• • Number of fully paid[+] ordinary securities 2,000,000 (Issue of shares to Heron issued in that 12 month period with Resources Limited approved at 24 Nov 2016 shareholder approval AGM)

• • Number of partly paid[+] ordinary Nil securities that became fully paid in that 12 month period

• Note: • Include only ordinary securities here – other classes of equity securities cannot be added

• • Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed

• • It may be useful to set out issues of securities on different dates as separate line items

• Subtract the number of fully paid[+] ordinary Nil securities cancelled during that 12 month period “A” 230,788,035

• See chapter 19 for defined terms.

Appendix 3B Page 9

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Appendix 3B New issue announcement

Step 2: Calculate 15% of “A”

Step 2: Calculate 15% of “A”
“B”	0.15
	[Note: this value cannot be changed]
Multiply“A” by 0.15	34,618,205
Step 3: Calculate “C”, the amount of placement capacity under rule
7.1 that has already been used
Insertnumber of+equity securities issued	Nil
or agreed to be issued in that 12 month
period_not counting_those issued:
• Under an exception in rule 7.2
• Under rule 7.1A
• With security holder approval under rule
7.1 or rule 7.4
Note:
• This applies to equity securities, unless
specifically excluded – not just ordinary
securities
• Include here (if applicable) the securities
the subject of the Appendix 3B to which
this form is annexed
• It may be useful to set out issues of
securities on different dates as separate
line items

• Under an exception in rule 7.2
• Under rule 7.1A
• With security holder approval under rule
7.1 or rule 7.4
Note:
• This applies to equity securities, unless
specifically excluded – not just ordinary
securities
• Include here (if applicable) the securities
the subject of the Appendix 3B to which
this form is annexed
• It may be useful to set out issues of
securities on different dates as separate
line items
“C”	Nil
Step 4: Subtract “C” from [“A” x “B”] to calculate remaining
placement capacity under rule 7.1
“A” x 0.15	34,618,205
Note: number must be same as shown in
Step 2

placement capacity under rule 7.1
“A” x 0.15	34,618,205
Note: number must be same as shown in
Step 2
Subtract“C”	Nil
Note: number must be same as shown in
Step 3
Total[“A” x 0.15] – “C”	34,618,205
	[Note: this is the remaining placement
	capacity under rule 7.1]

• See chapter 19 for defined terms.

Appendix 3B Page 10

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Appendix 3B New issue announcement

Part 2 – Note this may change upon completion of the rights issue

Rule 7.1A – Additional placement capacity for eligible entities

Step 1: Calculate “A”, the base figure from which the placement capacity is calculated

“A” 230,788,035 Note: number must be same as shown in Step 1 of Part 1

Step 2: Calculate 10% of “A”

“D” 0.10 Note: this value cannot be changed Multiply “A” by 0.10 23,078,803

Step 3: Calculate “E”, the amount of placement capacity under rule 7.1A that has already been used

Insert number of[+] equity securities issued Nil or agreed to be issued in that 12 month period under rule 7.1A

Notes:

• This applies to equity securities – not just ordinary securities

• Include here – if applicable – the securities the subject of the Appendix 3B to which this form is annexed

• Do not include equity securities issued under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained

• It may be useful to set out issues of securities on different dates as separate line items

• “E” 23,078,803

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

Step 4: Subtract “E” from [“A” x “D”] to calculate remaining placement capacity under rule 7.1A

Step 4: Subtract “E” from [“A” x “D”] to calculate remaining placement capacity under rule 7.1A	Step 4: Subtract “E” from [“A” x “D”] to calculate remaining placement capacity under rule 7.1A
“A” x 0.10 Note: number must be same as shown in Step 2	23,078,803
Subtract“E” Note: number must be same as shown in Step 3	Nil
Total[“A” x 0.10] – “E”	23,078,803 Note: this is the remaining placement capacity under rule 7.1A

• See chapter 19 for defined terms.

Appendix 3B Page 12

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