AUSTRALIAN VANADIUM LIMITED — Capital/Financing Update 2016

Mar 21, 2016

22 March 2016

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ASX Market Announcements ASX Limited 20 Bridge Street SYDNEY NSW 2000

EXTENSION OF PROSPECTUS CLOSING DATE

Australian Vanadium Limited (ASX: AVL or the Company ) wishes to advise that due to mail delivery times and the Easter holiday period, the Company has resolved to extend the closing date under its prospectus dated 9 March 2016 and dispatched to eligible shareholders on Monday, 21 March 2016.

The new closing date is 7.00pm EST on 8 April 2016 . A revised timetable for the Offer is as follows:

Closing date for acceptances (Closing Date)	8 April 2016
Deferred settlement trading commences	11 April 2016
Notify ASX of Shortfall	13 April 2016
Issue of New Shares	14 April 2016
Deferred settlement trading ends	15 April 2016
Dispatch of shareholding statements	15 April 2016
Normal trading of New Shares expected to commence	18 April 2016
Last date to issue Shortfall Securities	8 July 2016

The above dates are indicative only and may be subject to change. The Directors may extend the Closing Date by giving at least 3 business days’ notice to ASX prior to the Closing Date, subject to such date being no later than 3 months after the date of this Prospectus.

Yours faithfully

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N J Bassett Company Secretary

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