ALICE QUEEN LIMITED — Capital/Financing Update 2017

Apr 12, 2017

13 April 2017

Market Announcements Office Australian Securities Exchange Limited

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT 2001

Alice Queen Limited (ASX:AQX)(Company) is pleased to announce the allotment and issue on 13 April 2017 of 55,000,000 fully paid ordinary shares at an issue price of $0.035 per share (Securities) via a placement to sophisticated investors to raise a total of $1,925,000. Funds raised through the issue will, after costs, be applied to working capital and ongoing exploration programs at the Company’s flagship Horn Island gold project in the Torres Strait.

Secondary Trading Exemption

The Corporations Act 2001(Act) restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, sale of the Securities noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX that:

• a) this notice is being given to ASX under section 708A(5)(e) of the Act;

• b) the Company issued the Securities without disclosure to investors under Part 6D.2 of the Act;

• c) as at the date of this notice the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

• d) as at the date of this notice there is no excluded information for the purposes of section 708A(7) or section 708A(8) of the Act.

Yours sincerely

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Anne Adaley Company Secretary