BREAKTHROUGH MINERALS LIMITED — Capital/Financing Update 2019

Jul 14, 2019

ASX Release 13 July 2019

IEC JUNE 2019 UPDATE

• Sales 51,712 tonnes in June

• FY19 sales 45.8% higher than FY18

• Production 62,910 tonnes in June

• FY19 production 29.3% higher than FY18

• Heavy rains and customers maintenance on mills reduced sales in June as expected

• Production capacity increased with new equipment arriving at the mine

Intra Energy Corporation Limited ("IEC" or "the Company") is pleased to announce that Tancoal Energy Limited (IEC 70% and National Development Corporation of Tanzania 30%) recorded 51,712 tonnes of coal sold for June 2019 compared to 52,614 tonnes sold in June 2018. FY 2019 sales were 788,702 tonnes compared to 540,937 tonnes in FY 2018.

The heavy rains in May and June caused a slowdown in the cement industry and some customers shut down mills for maintenance in June reducing coal sales for the period. 62,910 tonnes were produced in June 2019 without Caspian’s input compared to 48,741 tonnes in June 2018 with Caspian as a contractor. FY 2019 produced 748,874 tonnes compared to 579,108 in FY 2018.

Tancoal has purchased three new Bell 50T Dump Trucks that have arrived at the site and will start working in July. A mining contractor is also taking delivery of a further three trucks, three new contract excavators are already in operation along with additional dozers and wheel loaders. The capacity of the mine will increase to more than 80,000 tonnes per month with the new larger trucks and excavators operating.

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New Bell B50T Dump Trucks

Caspian has withdrawn their court case and left the mine site as per the agreement, payments are being made as scheduled.

Tancoal and the Mbalawala Women’s Organisation were once again invited by The National Development Corporation, Tancoal’s joint venture partner, to participate in the Dar es Salaam International Trade Fair that is open for two weeks from the end of June.

EC Chairman, Graeme Robertson, commented “As projected sales were affected by customers’ plant shutdowns for maintenance, however, production was good with several items of new equipment, allowing much needed stock build-up. Further delivery of trucks, dozers and wheel loaders will support increased production on the basis that the Government’s major infrastructure projects will continue with high cement requirements. In June we completed the payment of US$75,000 to buy 50% equity in AAA Drilling Limited (Mauritius) which is now owned 100% by IEC. AAA Drilling has a large drilling rig ideally suited to Coal Bed Methane drilling with potential in Mozambique and Zimbabwe. AAA Drilling is also looking at work in the gold mining industry in Southern Africa where Mauritius has excellent Double Tax and Investment Protection Agreements.”

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ENDS

Shareholder Enquiries

Jim Shedd Managing Director Intra Energy Corporation Limited www.intraenergycorp.com.au Registered Office: Level 40, 2 Park Street, Sydney NSW 2000 Postal Address: PO Box 1930, North Sydney NSW 2059

About Intra Energy

Intra Energy is an environmentally responsible, diversified mining and energy group, focused on Eastern Africa, and is listed on the Australian Stock Exchange (ASX:IEC). IEC is a developer and producer of thermal coal in Eastern Africa operating under the motto of “African coal for African growth” and is the only operating thermal coal miner in Eastern Africa. Its flagship coal project is the Tancoal mine in the Ngaka coalfield of Tanzania, operated by Tancoal Energy Limited, a joint venture with the National Development Corporation of Tanzania.

Intra Energy has made significant progress with its Eastern African regional expansion strategy into new mining and renewable energy projects and battery storage materials, and maintains cost effective and efficient operations to remain a low cost producer in this dynamically growing region where it occupies the prime supply position.