BATHURST RESOURCES LIMITED. — Capital/Financing Update 2017

Nov 12, 2017

T +64 4 499 6830 F +64 4 974 5218 E wellington@bathurst.co.nz

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

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13 November 2017

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

TERM LOAN REPAID

Bathurst Resources Limited (ASX:BRL) is pleased to announce that, through its Joint Venture, BT Mining Limited, it will today pay down in full the Term Loan of NZD15 million with Bank of New Zealand and cancel the facility.

Bathurst’s CEO, Richard Tacon stated “the integration of the ex-Solid Energy assets with the Bathurst group has gone to plan in all facets of the organisation. The coking coal environment is extremely pleasing with prices at the current levels enabling BT Mining to repay the two year Term Loan Facility early”.

BT Mining completed the acquisition of the Solid Energy assets of Stockton, Rotowaro and Maramarua mines on 1 September 2017.

Mr. Tacon added “we are now in a strong financial position with the mix of domestic, operating on both the north and south islands of New Zealand, together with the high quality coking coal export operation on the west coast of the south island, all contributing to the company as planned. This will provide the platform for Bathurst to further strengthen its balance sheet and provide the opportunity to evaluate capital management initiatives”.

On behalf of Bathurst Resources Limited.

Richard Tacon

CEO

www.bathurstresources.co.nz