AUREKA LIMITED — Capital/Financing Update 2016

Sep 27, 2016

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28 September 2016

Market Announcements Office Australian Securities Exchange Exchange Centre 20 Bridge Street SYDNEY NSW 2000

By electronic lodgement

Entitlement Offer – Issue of Shortfall Securities

Navarre Minerals Limited ( Company ) (ASX: NML) confirms that pursuant to the underwriting arrangements with Patersons Securities Limited ( Underwriter ), the Company has received subscription funds of $768,122.71 (before costs) under the shortfall of its non-renounceable entitlement offer announced to ASX on 25 August 2016 (Entitlement Offer). This brings the total amount raised under the Entitlement Offer to $1,140,824 (before costs).

Accordingly, the Company has today issued 26,486,990 fully paid ordinary shares in the Company ( Shares ) and 13,243,495 unlisted options (exercise price $0.05, expiry 31 March 2018) to the nominees of the Underwriter, bringing the total number of Shares on issue to 147,515,725.

For and on behalf of the Board:

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Jane Nosworthy Company Secretary Navarre Minerals Limited

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