CATALINA RESOURCES LTD — Capital/Financing Update 2014

Aug 7, 2014

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SHREE MINERALS LTD

8[th] August 2014

FULLY UNDERWRITTEN NON-RENOUNCEABLE RIGHTS ISSUE

Summary

• 1 for 6 non-renounceable pro-rata rights issue to raise approximately A$1.62 million at an offer price of A$0.08 per new share;

• The Offer is fully underwritten by China Alliance International Holdings Group Limited, RB Investments Pte Ltd, Megawild Enterprises Pty Ltd and IACG Pty Ltd;

Shree is pleased to announce that it will be undertaking a fully underwritten, nonrenounceable pro-rata rights issue ( Rights Issue or Offer ) to raise A$1.62M million from its existing shareholders.

Rights Issue Details

The Rights Issue will be an offer of new fully paid ordinary shares ( Rights Issue Shares ) on the basis of one (1) Rights Issue Share for every six (6) share held ( Entitlement ) by Eligible Shareholders (defined below) on the Record Date ( Existing Shares ), at a price of A$0.08 per Rights Issue Share ( Rights Issue Price ). Based on the current shares on issue a total of 20,293,334 Rights Issue Shares will be offered to raise approximately A$1.62 million (Before the costs of the issue).

Timetable

imetable
Lodgement of Prospectus with the ASIC	8 August 2014
Lodgement of Prospectus & Appendix 3B with ASX	8 August 2014
Notice sent to Shareholders	12 August 2014
Ex date	13 August 2014
Record Date for determining Entitlements	15 August 2014
Prospectus sent out to Shareholders & Company	20 August 2014
announces this has been completed
Last day for Company to extend Closing Date	26 August 2014
Closing Date*	29 August 2014
Shares quoted on a deferred settlement basis	1 September 2014
ASX notified of under subscriptions	3 September 2014
Issue date/Shares entered into Shareholders’ security	5 September 2014
holdings
Quotation of Shares issued under the Offer*	8 September 2014

*The Directors may extend the Closing Date prior to the last day to extend the Closing Date. As such the date the Shares are expected to commence trading on ASX may vary.

SHREE MINERALS LTD, ACN 130618683 Unit 2, The Pines Business Centre, 88 Forrest Street, Cottesloe, WA6011 Phone: + 61 (08) 92861509, FAX: +61 (08) 93855194 www.shreeminerals.com

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SHREE MINERALS LTD

Purpose of the Offer

The purpose of the Offer is to raise up to $1,623,467.

The funds raised from the Offer are planned to be used in accordance with the table set out below:

Item	Proceeds of the Offer	Full Subscription($)	%
1.	Expenses of the Offer1	111,930	6.89
2.	General working capital2	1,511,537	93.11
	Total	1,623,467	100

Notes:

1. Including $81,173 payable to the Underwriters in underwriting fees. Refer to Section Error! Reference source not found. of this Prospectus for further details relating to the estimated expenses of the Offer.

2. Funds allocated to general working capital are intended to be used by the Company for the purpose of meeting ongoing trade creditors including production costs, payments of trade & other payables, corporate administration and operating costs and may be applied to directors’ fees, ASX and share registry fees, legal, tax and audit fees, insurance and travel costs while the Company is not receiving any income from the sale of its iron ore inventory currently held.

On completion of the Offer, the Board believes the Company will have sufficient working capital to achieve these objectives.

The above table is a statement of current intentions as of the date of this Prospectus. As with any budget, intervening events (including exploration success or failure) and new circumstances have the potential to affect the manner in which the funds are ultimately applied. The Board reserves the right to alter the way funds are applied on this basis.

About Shree Minerals

Shree Minerals Limited is engaged in mining and production of iron ore & dense media magnetite at its core project; the Nelson Bay River Iron Project in the North West Tasmania and engaged in exploration of its other tenements in Tasmania.

ABOUT THE NBR PROJECT

The NBR Project area is located about 6 km North East of the town of Temma and about 70 km South West of Smithton, in North West Tasmania.

The tenements contain a series of NW striking, strong amplitude magnetic anomalies. The iron mineralisation at NBR is hosted by a 10 to 28 metres wide mafic dyke, which crosses cuts the country rocks and increases in width with depth. Within this dyke is a magnetite-rich

SHREE MINERALS LTD, ACN 130618683 Unit 2, The Pines Business Centre, 88 Forrest Street, Cottesloe, WA6011 Phone: + 61 (08) 92861509, FAX: +61 (08) 93855194 www.shreeminerals.com

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SHREE MINERALS LTD

section and oxidation of the magnetite has generated goethite-hematite mineralisation to varying depths.

NBR project has a JORC compliant global Iron resource of 11.3 Mts including goethitichematite resource of 1.4 Mts and magnetite resource of 7.8 Mts.

The NBR project is being developed in a phased philosophy with the initial plan to mine the goethitic-hematite resource to export iron ore over the first couple of years at low capital expenditure to be followed by the magnetite resource to produce dense media magnetite (DMM) used for the coal washery industry.

Studies to-date have reflected a stable market and pricing for DMM as an industrial mineral in Eastern Seaboard of Australia with domestic production not being adequate to meet demand resorting to imports , thereby confirming the long-term value potential of the NBR project.

Yours faithfully

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Sanjay Loyalka Chairman

The data in this report that relates to Exploration Results and Mineral Resource Estimates is based on information evaluated by Mr Simon Tear who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). Mr Tear is a Director of H&S Consultants Pty Ltd and he consents to the inclusion in the report of the Mineral Resource in the form and context in which they appear.

SHREE MINERALS LTD, ACN 130618683 Unit 2, The Pines Business Centre, 88 Forrest Street, Cottesloe, WA6011 Phone: + 61 (08) 92861509, FAX: +61 (08) 93855194 www.shreeminerals.com