ECLIPSE METALS LIMITED. — Capital/Financing Update 2015

Dec 15, 2015

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www.eclipseuranium.com.au

16 December 2015

Eclipse Metals Limited holds an impressive portfolio of over 18,375km[2] over 30 Exploration Licence areas in the Northern Territory and Queensland. Eclipse Metals Ltd has a multicommodity portfolio including manganese, iron, gold, uranium, and base metals. Eclipse focus is concentrated on economic mineral discoveries through cost efficient exploration with the ultimate goal of developing economic mineral deposits and becoming a mining company in the medium to long term.

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The Company Announcements Platform ASX Limited Exchange Centre 20 Bridge Road SYDNEY NSW 2000

Non-Renounceable Rights Issue Closes Strongly Supported

Eclipse Metals Limited ( Eclipse or the Company ) (ASX code EPM ) advises that the Board of Directors has closed the Non-Renounceable Rights Issue ( Rights Issue or Offer ) as announced on 4 November 2015 with strong support by the Company’s Shareholders.

BOARD

Carl Popal Executive Chairman

Rodney Dale Non-Executive Director

The number of new Ordinary Shares subscribed by Entitlement Application Holders was 165,860,123 of the total available under the Offer raising $497,580.46 before costs with Shareholders taking up to 51% of the Rights Issue. In addition, Shareholders have also taken up 3,500,000 Ordinary Shares as additional applications in accordance with the terms of the Rights Issue which have been approved by the Company.

Craig Hall Non-Executive Director

COMPANY SECRETARY

Eryn Kestel

Whilst the Offer was not underwritten, the Directors have elected to place the shortfall following strong interest from various independent third parties to subscribe for the remaining 157,673,289 Shares as shortfall shares under the Offer Document terms. The Company will proceed to place these Shares over the next couple of months.

REGISTERED OFFICE

C/-NKH Knight Unit 19 Level 2, Spectrum 100 Railway Road Subiaco WA 6008 Phone: +61 8 9367 8133 Fax: + 61 8 9367 8812

The Company will apply for quotation of the New Shares for trading on the ASX and it is expected that quotation will take place and trading will commence on or around 23 December 2015.

PRINCIPAL PLACE OF BUSINESS

Holding statements for the new Shares will be dispatched according to the time-table already advised.

Level 3, 1060 Hay Street West Perth WA 6005 Phone: + 61 8 9480 0420 Fax: + 61 8 9321 0320

In summary and in accordance with Appendix 7A of the ASX Listing Rules, the following is confirmed:

AUSTRALIAN BUSINESS NUMBER

• The Company received acceptances for a total of 165,860,123 New Shares raising gross proceeds of $497,580.46;

• The shortfall under the Rights Issue is 157,673,289 Shares; and

• The Company is now in the process of placing these shortfall shares as disclosed in the Offer Document with independent third parties, which will bring in additional proceeds.

The Directors would like to thank all participants for showing support for this Rights Issue which is an extremely pleasing result for the Company in a difficult market.

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85 142 366 541

SHARE REGISTRY

Security Transfer Registrars 770 Canning Highway Applecross WA 6153

ASX CODE EPM

WEBSITE www.eclipsemetals.com.au

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Eryn Kestel Company Secretary