CAPRICORN METALS LTD — Capital/Financing Update 2016

Apr 27, 2016

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MARKET RELEASE

28 April 2016

Capricorn Metals Limited

SUSPENSION

The securities of Capricorn Metals Limited (the “Company”) will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement.

Security Code: CMM

Jill Hewitt

SENIOR ADVISER, LISTINGS COMPLIANCE (PERTH)

Level 40 Central Park www.asx.com.au Phone: 08 9224 0000 152-158 St Georges Terrace Customer service 13 12 79 Email: Perth WA 6000

ASX Compliance Pty Limited ABN 26 087 780 489

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28[t] [h] April 201 6

Au s tralian Se c urities Exchange Level 40, Cen t ral Park 15 2 -158 St G e orge's Terrace Per t h WA 600 0

Att e ntion: Mauro Pic c ini Issuers Adviser

De a r Mauro

REQUEST FOR VOLUNTARY SUSPENSION

Ca p ricorn Metals Ltd (“Capricorn”) requests a Voluntary Suspensi o n of tradi n g in its s ecurities, pursuant t o ASX Listing Rule 1 7 .2, comm e ncing Thu r sday 28[th] A pril 2016.

In a ccordanc e with ASX Listing R u le 17.2, t h e Compa n y provide s the follo w ing inf o rmation regarding th i s request:

1. The re a son for t h e volunta r y suspens i on is that the Company inten d s to make a n announ c ement in r e lation to a proposed capital rai s ing.

2. The C o mpany re q uests tha t the volu n tary susp e nsion continue until the annou n cement r e ferred to in parag r aph 1 is released t o the m a rket (prese n tly expect e d to occu r on Friday , 29[th] April 2016).

3. The event which will end t h e volunta r y suspension is the announce m ent referre d to in par a graph 1.

4. The C o mpany is not aware of any re a son why t he volunt a ry suspe n sion should not be granted.

Yo u rs sincerel y Capricorn Metals Ltd

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Natasha Ford e Company Secretary

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