DIATREME RESOURCES LIMITED — Capital/Financing Update 2015

Apr 9, 2015

ASX RELEASE

Stavely Project Tenement Acquisition and New Ararat Project Joint Venture

Deals to expand acreage reflect Stavely’s confidence in the copper and gold exploration potential at both projects

Highlights

• Stavely Project - Stavely Minerals has acquired EL 5478 from Diatreme Resources Limited

• Ararat Project - Stavely Minerals has entered into a Joint Venture with Minotaur Operations Pty Ltd for EL 5403 and EL 5450

Stavely Minerals Limited (ASX Code: SVY ) is pleased to advise that the Company has completed two transactions to expand its land holdings at both the Stavely and Ararat Project areas (Figure 1).

These transactions reflect Stavely’s confidence in the potential for these areas to host meaningful additional discoveries of copper and gold mineralisation.

Stavely Minerals’ Managing Director Mr Chris Cairns said: “We see these transactions as representing a relatively low-cost extension of our existing holdings in the Ararat and Stavely Projects. We view the potential for additional discovery as very real, especially given the size and quality of our existing Mineral Resources[1] and the relative lack of even basic exploration within these two belts with proven metals endowment”.

Most of Stavely Minerals’ tenements have not been subjected to even the most rudimentary exploration. For example, historic exploration focused on small areas for geochemical soil sampling, the majority of which was done in the 1970s, and much of that sampling was never analysed for gold. Large areas prospective for both copper and gold have had very little in the way of systematic modern exploration.

Stavely Minerals believes there is strong potential for additional discoveries within the same host units as the Company’s existing Mineral Resources. These comprise:

• An Inferred Mineral Resource of 1.2 million tonnes at 2.0% copper, 0.5 g/t gold and 0.4% zinc[1] in a Besshi-style VMS deposit at the Ararat Project, and

• A shallow Inferred Mineral Resource of 28 million tonnes at 0.4% copper[1] in a chalcocite enriched blanket developed over a large porphyry at the Stavely Project.

The transaction for EL 5478 with Diatreme Resources Limited (ASX Code: DRX ) was a 100% outright purchase for $5,000. EL 5478 covers an interpreted offset of the Mount Stavely Volcanic Belt and is highly prospective for intrusive-related porphyry copper and gold mineralisation.

1 See Stavely Minerals’ Prospectus lodged on 26/03/2014 and available from www.stavely.com.au

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ASX RELEASE

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Figure 1. Tenement location map

Key terms of the Earn-in and Joint Venture Agreement with Minotaur Operations Pty Ltd (a subsidiary of Minotaur Exploration Limited (ASX Code: MEP )) for EL 5403 and EL 5450 are:

• Stavely must spend a minimum of $44,000 in the first year before being able to withdraw from the agreement

• Stavely to spend $100,000 in exploration and related costs within 3 years of commencement to earn 51% equity

• Stavely to spend a further $100,000 within 5 years of commencement to earn a further 24% equity (75% total)

• Parties to contribute pro-rata or dilute thereafter, and

• Should Minotaur’s equity fall below 5% it will revert to a 1% NSR royalty.

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ASX RELEASE

EL 5403 and EL 5450 are located immediately to the west of Stavely Minerals’ Ararat Project and are considered to be prospective for extensions and repetitions of the highgrade VMS horizon.

Stavely personnel remain very active with field programmes including soil sampling, mapping, rock chip sampling and IP surveys and an exploration update will be provided upon receipt of pending assay results.

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Chris Cairns Managing Director

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Chris Cairns, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mr Cairns is a full-time employee of the Company. Mr Cairns is the Managing Director of Stavely Minerals Limited, is a substantial shareholder of the Company and is an option holder of the Company. Mr Cairns has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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’. Mr Cairns consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

With respect to reporting of the Mineral Resources at the Mt Ararat VMS copper-gold-zinc deposit and the Thursday’s Gossan chalcocite-enriched copper blanket, the information is extracted from the report entitled “Stavely Minerals Limited – Prospectus” created on 26 March 2014 and is available to view on www.stavely.com.au. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

For Further Information, please contact:

Stavely Minerals Limited Phone: 08 9287 7630 Email: info@stavely.com.au

Media Inquiries:

Nicholas Read – Read Corporate Phone: 08 9388 1474

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