AVIRA RESOURCES LTD — Capital/Financing Update 2016

Sep 14, 2016

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CLOUD AND MARVEL – VARIATION OF CONDITIONS PRECEDENTS IN PREFERENCE SHARE AGREEMENT

MGT Resources Limited (MGT) wishes to inform the market that Cloud Adventurer Limited (Cloud) and Marvel Network Limited (Marvel) have signed Variation Agreements agreeing to amendments to the Conditions Precedent of the Preference Share Agreements concerning funding.

Previously MGT had to enter into an agreement with Joseph Capital (Hong Kong) Limited and/or other parties for the issue of $1,000,000 worth of Shares on or before 16[th] September 2016.

This has now been amended such that MGT is required to enter into an agreement with Joseph Capital (Hong Kong) Limited and/or another party or parties for the issue of $500,000 worth of Shares or Convertible Debt Security.

MGT announced yesterday that it has entered into an Unsecured Convertible Note Deed with Joseph Capital (Hong Kong) Limited for $500,000 (Refer to ASX Announcement dated 14 September 2016).

Subject to shareholders approving the resolutions at tomorrow’s general meeting, MGT has now met all the Conditions Precedent of the Preference Shares Agreements.

ASX Announcement 15 September 2016

ASX CODE

MGS ASX Release REGISTRY 15 September 2016 Computershare

ASX CODE SHARES ON ISSUE MGS 483,066,131 REGISTRY Computershare

Tin Price: US$17,902/t SHARES ON ISSUE Gold Price: US$1,329oz 483,066,131 U3O8 Spot Price: US$xx

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MGT Resources Limited Suite 1305, Level 13, 109 Pitt Street Sydney NSW 2000 MGT Australia Resources Limited T: 61 2 9262 1122 Suite 1305, Level 13,F: 61 2 9299 5175 109 Pitt Street Sydney NSW 2000www.mgt.net.au info@mgt.net.au Australia