ASPIRE MINING LIMITED — Capital/Financing Update 2017

Nov 12, 2017

69 Kewdale Road Welshpool WA 6106

P.O Box 1918, Subiaco, WA 6904

P: (08) 9287 4555 F: (08) 9353 6974 W: www.aspiremininglimited.com E: info@aspiremininglimited.com

13 November 2017

Dear Shareholder

Rights Issue – notification to ineligible shareholders

On 3 November 2017, Aspire Mining Limited ( Company ) announced a fully underwritten renounceable pro rata rights issue to raise up to approximately $16.53 million (before costs) ( Rights Issue ).

The Rights Issue will be offered to eligible shareholders on the basis of 6 new fully paid ordinary shares ( New Shares ) for every 5 ordinary shares held by eligible shareholders at $0.012 per New Share, together with an attaching listed option for every 4 new shares subscribed for ( New Options ).

We are writing to advise you that you are not eligible to participate in the Entitlement Offer for the reasons outlined in the table below.

Details of the Rights Issue are contained in the Company’s ASX announcement on 3 November 2017, and in the Prospectus lodged with ASIC on 9 November 2017 and the ASX on 10 November 2017, and available at www.asx.com.au.

Who are Eligible	Shareholders who are eligible to participate in the Rights Issue	Shareholders who are eligible to participate in the Rights Issue
Shareholders?	(Eligible Shareholders) are shareholders who:
	(a)	are registered as a holder of shares as at 7.00pm
		(AEDT) on 15 November 2017 (Record Date);
	(b)	have a registered address in Australia, New Zealand,
		Hong Kong, Mongolia, or Singapore or are, in the
		opinion of the Company, otherwise eligible under all
		applicable securities laws to receive an offer of New
		Shares under the Rights Issue; and
	(c)	are not in the United States and are subscribing for the
		New Shares and New Options in an ‘offshore
		transaction’ (as defined in Rule 902(h) of the United
		States Securities Act of 1933, as amended).

Do you meet the	Unfortunately, as you do not satisfy the eligibility criteria for an
eligibility criteria?	Eligible Shareholder, you are not eligible to subscribe for New
	Shares and New Options and you will not be sent a copy of the
	offer documents.
	The Company wishes to advise you that it will not be
	extending the Rights Issue to you.
Why are there	The Company has determined, in reliance on ASX Listing Rule
restrictions on	7.7.1, that it would be unreasonable to extend the Rights Issue to
eligibility?	Shareholders who are not Eligible Shareholders (Ineligible
	Shareholders), having regard to:
	(a)the small number of Ineligible Shareholders;
	(b)the small number and value of the New Shares which
	would be offered to Ineligible Shareholders if they were
	Eligible Shareholders; and
	(c)the cost of complying with the legal and regulatory
	requirements in the respective overseas jurisdictions.
Do you need to do	You are not required to do anything in response to this letter.
anything?	This letter is to inform you about the Rights Issue, the details of
	which are provided above. This letter is not an offer to issue New
	Shares to you or an invitation for you to apply for New Shares.
Questions	If you have any questions in relation to the Rights Issue and this
	letter, please seek professional advice or contact the Company
	on +61 8 9287 4555 between 9.00am and 5.00pm (AWST)
	Monday to Friday.

Yours sincerely,

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David Paull MANAGING DIRECTOR ASPIRE MINING LIMITED