AUSQUEST LIMITED — Capital/Financing Update 2013

Nov 6, 2013

7 November 2013

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Australian Securities Exchange Level 8 Exchange Plaza 2 The Esplanade Perth WA 6000

EXTENSION TO SECURITIES PURCHASE PLAN (SPP)

The Board of AusQuest Limited (AusQuest, the Company) has been made aware that a significant percentage of shareholders have not yet received a co py of the Securities Purchase Plan (SPP) Prospectus which was despatched on 25 October 2013.

We understand that this is due to abnormal delays in postage times by Australia Post, in particular to the eastern states. In light of this information the Board have agreed to extend the closing date of the SPP by one week, to close of business on Monday 18[th] November.

The terms of the SPP entitle shareholders to:

• apply for up to $15,000 AusQuest shares at 2 cents each, together with a free attaching option (on a 1:2 basis), exercisable at 4 cents on or before 30 November 2016.

• apply to participate in any shortfall to the SPP.

The SPP is designed to allow shareholders to participate in the current round of fundraising on the same terms as the previously announced placement to sophisticated investors. In total, the Company is undertaking a capital raising to raise up to $2.75 million to fund ongoing exploration and drilling at the Company’s Fraser Range and Peru projects and to provide additional working capital.

The revised timetable for the SPP is as follows:

Closing Date Monday, 18 November 2013 Allotment of SPP securities Friday, 22 November 2013

For further information, please contact:

Graeme Drew Managing Director +61 8 9364 3866

AusQuest Limited 8 Kearns Crescent Ardross WA 6153 (T): 08 9364 3866 (F): 08 9364 4892 www.ausquest.com.au