CATALINA RESOURCES LTD — Capital/Financing Update 2016

May 3, 2016

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SHREE MINERALS LTD

4[th] May 2016

The Manager Companies Company Announcements Australian Securities Exchange Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Dear Sir

Amended Share Placement Announcement

Attached herewith is the Share Placement announcement which have been amended for typographical error.

Yours sincerely

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Sanjay Loyalka Executive Chairman

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

4[th] May 2016

The Manager Companies Company Announcements Australian Securities Exchange Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Dear Sir

Shree Minerals Limited (Shree or the Company) is pleased to advise that RB Investments Pte Ltd has agreed for a share placement of 142,184,223 new fully paid ordinary shares (Placement Shares) in the capital of the Company, at a fixed price of AUD$0.02 per Share, for a total subscription amount of AUD$2,843,684. This share placement is conditional upon Shareholders approval for which a notice of meeting will be despatched in due course, along with an Independent Expert Report which is under preparation. The funds will be used to meet the working capital needs of the company.

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 meter wide mafic dyke, which crosses cuts the country rocks and increases in width with depth. Within this dyke is a magnetite-rich section and oxidation of the magnetite has generated goethite-hematite mineralisation to varying depths.

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 resulting in imports, thereby confirming the long-term value potential of the NBR project.

Yours sincerely

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Sanjay Loyalka Executive Chairman

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