ASPIRE MINING LIMITED — Capital/Financing Update 2015

May 28, 2015

Aspire Mining Limited

ABN: 46 122 417 243

Suite B3, 431-435 Roberts Road Subiaco WA 6008

PO Box 1918 Subiaco WA 6904 Tel: (08) 9287 4555 Fax: (08) 9388 1980 Web: www.aspiremininglimited.com Email: For Immediate Rele info@aspiremininglimited.com ase – 20 April, 2015

ASX RELEASE

==> picture [102 x 84] intentionally omitted <==

For Immediate Release – 29 May, 2015

Aspire Capital Raising Period Extended to 5 June 2015

Aspire Mining Limited (ASX: AKM, the “ Company ” or “ Aspire ”) is pleased to advise that it has received completed applications and firm commitments in excess of the minimum $2.75 million subscriptions. As the Company is continuing to receive interest in the placement from overseas, the Board has resolved to extend the capital raising period by one week until 5 June 2015.

The capital raising is priced at 2 cents with a one for two free attaching two year option exercisable at 3 cents. The Company notes that well in excess of 50 investors have subscribed to participate in this capital raising which has satisfied the requirements for quotation of the attaching options on ASX.

The Capital Raising timetable has now been amended to the following:

	raising is priced at 2 cents with a one for two free attaching two year option exercisableCompany notes that well in excess of 50 investors have subscribed to participate in	raising is priced at 2 cents with a one for two free attaching two year option exercisableCompany notes that well in excess of 50 investors have subscribed to participate in
	ng which has satisfied the requirements for quotation of the attaching options on ASX.l Raising timetable has now been amended to the following:
Key Event	sIndicative Tim	ing1
Record Da	teTuesday28 April 2	015
Opening D	ateWednesday29 April 2	015
General M	eeting DateTuesday2 June 2	015
Placement Closing DateFriday5 June 2015	Closin DateFrida5 June
Allotment of SecuritiesWednesday10 June 2015
Quotation of Securities issued under the OfferFriday12 June 2015
1Note that the above timetable is indicative and subject to change

Allotment of Securities	Wednesday10 June 2015
Quotation of Securities issued under the Offer	Friday12 June 2015
1Note that the above timetable is indicative and subject to change.

Argonaut is acting as Lead Manager to the Capital Raising.

--Ends--

1 | P a g e

ABOUT ASPIRE MINING LIMITED

Aspire Mining Limited is listed on the ASX (ASX: AKM) and is the largest coal tenement holder in Mongolia’s Northern provinces and is focused on identifying, exploring and developing quality coking coal assets. Aspire currently owns a 50% interest in and is the operator of the Ekhgoviin Chuluu Joint Venture (ECJV), and has an option to increase its ownership to 100% of the ECJV. The ECJV owns a 90% interest in the Nuurstei Coking Coal Project, and following a successful 2014 exploration programme is planning to conduct additional exploration work through 2015 with the aim of identifying a JORC 2012 coal resource and defining coal quality across the deposit. Depending on the results of the 2015 programme, future positive economic studies, funding and the grant of necessary approvals and licenses, Nuurstei could commence a road based production operation as early as 2016.

The Northern Rail Line, part of Mongolia’s national rail policy will extend Mongolia’s national rail network past the Nuurstei Coking Coal Project to Aspire’s wholly owned Ovoot Coking Coal Project and onto the Russian/Mongolian border to eventually connect with Russia’s rail network. Phase 1 (Erdenet – Ovoot section) of the Northern Rail Line is a 547km alignment being progressed by Northern Railways LLC, a subsidiary of Aspire. Northern Railways is awaiting the grant of a rail concession from the Government of Mongolia to proceed with funding negotiations, the completion of the second outstanding phase of its Bankable Feasibility Study and other activities.

The timing with respect to the grant of a rail concession agreement is outside of the control of Aspire. Certain activities to further progress the Erdenet – Ovoot Railway development include the completion of detailed engineering work to support definitive financing negotiations.

For more information contact:

Corporate & Investor Relations David Paull Aspire Mining Ltd +61 8 9287 4555 Managing Director Email: ir@aspiremininglimited.com

==> picture [22 x 20] intentionally omitted <==

==> picture [21 x 21] intentionally omitted <==

Follow us on Twitter @AspireMiningLtd; and LinkedIN.

2 | P a g e