AUREKA LIMITED — Capital/Financing Update 2014

Jun 11, 2014

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ASX Announcement

12 June 2014

Navarre Minerals Limited

Successful completion of Share Purchase Plan

ABN 66 125 140 105

• $544K raised from Share Purchase Plan

ASX Code: NML

Corporate Details

Issued capital:

64.2M ordinary shares 4.2M unlisted options

Directors & Management: Kevin Wilson (Non-Executive Chairman)

Geoff McDermott (Managing Director)

John Dorward (Non-Executive Director)

Colin Naylor (Non-Executive Director)

Jane Nosworthy (Company Secretary)

Wessley Edgar (Exploration Manager)

Contact Details

Geoff McDermott Managing Director

Navarre Minerals Limited 40 – 44 Wimmera Street Stawell VIC 3380 Australia

PO Box 385 Stawell VIC 3380 Australia

• Approximately 8.3 million new NML shares will be issued on 13 June 2014 bringing total shares on issue to approximately 72.5 million

• Funds raised from SPP used to advance exploration on Western Victoria Copper Project, where drilling is currently underway at the Eclipse copper-gold prospect as part of a 3,000m program

Navarre Minerals Limited ( ASX: NML ) is pleased to announce that $544K was raised from shareholders through the Company’s 2014 Share Purchase Plan ( SPP ), which closed on 6 June 2014.

The SPP offered eligible shareholders the opportunity to purchase shares in the Company at the same issue price of 6.5 cents per new share as a $300,000 share placement to major shareholder, Crocodile Gold Corp., announced on 12 May 2014 ( Placement ). The combined funds raised by the Placement and the SPP will be used to advance exploration on the Company’s 100%-owned Eclipse coppergold prospect and the broader Western Victoria Copper Project, located 300km west of Melbourne in the Miga Arc copper belt (Figure 1), and to meet ongoing working capital requirements.

A 3,000m RC drill program is currently underway at the Eclipse porphyry copper-gold prospect testing for a deeper porphyry source as follow-up to significant near-surface copper and gold mineralisation up to 2.8% Cu and 3.6g/t Au starting at only 30 metres from surface (as announced to ASX on 14 March 2014; Figures 2 - 4). Assay results from the drill program are expected in July.

The allotment of approximately 8.3 million new shares as a result of the SPP is expected to occur tomorrow (13 June 2014) after all cheques received have been cleared. The new shares will be eligible to commence trading from Monday 16 June 2014. Holding statements will be dispatched no later than Monday 16 June 2014 to shareholders who participated in the SPP.

The Board of Navarre thanks all shareholders who participated in the SPP for their continuing support of the Company and its promising projects.

– ENDS –

Tel: +61 (0)3 5358 8625

Email: info@navarre.com.au Website: www.navarre.com.au

Navarre Minerals Limited | ABN 66 125 140 105 40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia t +61 3 5358 8625 e info@navarre.com.au | w navarre.com.au

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About Navarre Minerals Limited:

Navarre Minerals Limited (ASX: NML) is an Australian-based resources company that is creating value from a portfolio of early to advanced stage copper and gold projects in western Victoria, Australia. Navarre’s aim is to discover and develop large copper and gold deposits through its exploration successes.

The Company is targeting giant porphyry- copper and gold deposits. Its flagship Eclipse prospect is one of four initial porphyry targets identified within the Western Victoria Copper Project. The Project captures multiple, largely untested targets in 130kms of western Victoria’s newly uncovered Miga Arc volcanics. The Miga Arc is similar in setting to the Andes in South America, host to some of the world’s largest known porphyry copper deposits. Grassroots exploration of the Company’s extensive exploration permits is at an early stage and more than 50 new targets remain to be tested.

The high-grade Tandarra prospect in central Victoria is targeting the next generation of gold deposits under shallow cover 40kms north of the 22 million ounce Bendigo Goldfield. Under a farm-out agreement, Catalyst Metals Limited is earning a 51% equity interest in Tandarra by spending $3 million over four years by advancing the project towards mineral resource status.

Navarre has a highly experienced leadership team with 120 combined years of exploration, mining and finance industry experience with a proven track-record of discovery and project development.

For further information, please visit www.navarre.com.au or contact:

Geoff McDermott Managing Director E: info@navarre.com.au T: +61 (0)3 5358 8625

Competent Person Declaration

The information in this release that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Wessley Edgar, who is a Member of The Australasian Institute of Mining and Metallurgy and who is Exploration Manager of Navarre Minerals Limited. Mr Edgar has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Edgar consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.

Forward-Looking Statements

This announcement contains “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Navarre and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Exploration potential is conceptual in nature, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Readers are cautioned not to place undue reliance on forward-looking statements and Navarre assumes no obligation to update such information.

Navarre Minerals Limited | ABN 66 125 140 105 40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia t +61 3 5358 8625 e info@navarre.com.au | w navarre.com.au

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Figure 1: Location of Navarre’s mineral projects

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Figure 2: Starting the third drill hole, RCBR0014, of the June 2014 Eclipse program

Navarre Minerals Limited | ABN 66 125 140 105 40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia t +61 3 5358 8625

e info@navarre.com.au | w navarre.com.au

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Figure 3: Eclipse RC drill program activity, June 2014

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Figure 4: Navarre Exploration Manager, Wess Edgar, discusses program with the drillers

Navarre Minerals Limited | ABN 66 125 140 105 40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia t +61 3 5358 8625 e info@navarre.com.au | w navarre.com.au