BATHURST RESOURCES LIMITED. — Capital/Financing Update 2016

Aug 2, 2016

Level 12, 1 Willeston Street Wellington 6011, New Zealand PO Box 5963 Lambton Quay Wellington 6145, New Zealand

T +64 4 499 6830 F +64 4 974 5218

E wellington@bathurstresources.co.nz

3 August 2016

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Market Announcements Australian Securities Exchange Level 4, 20 Bridge Street Sydney NSW 2000

ISSUE OF AU$4,250,000 IN AGGREGATE PRINCIPAL AMOUNT OF CONVERTIBLE NOTES

Bathurst Resources wishes to advise that it has completed the issue of convertible notes with a principal value of AUD$4.25m

The notes were the subject of a special meeting of shareholders on 23[rd] June.

The primary objective in issuing the notes is to repay outstanding facilities with a New Zealand bank. This will long date debt principal repayments for three years and improve the working capital position of the company.

In addition to the repayment of the secured facilities, the convertible note provides access to funds for due diligence work surrounding the impending sale process of a major NZ coal producer.

On behalf of Bathurst Resources Limited.

Richard Tacon CEO

www.bathurstresources.co.nz