ELEMENTOS LIMITED — Capital/Financing Update 2019

Apr 16, 2019

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17 April 2019

$2M Loan Facility Secured

Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to announce that it has entered into an unsecured Loan Facility (“Facility”) with the Company’s largest shareholder and Non-Executive Chairman, Mr Andy Greig.

The key terms of the Facility include:

• Maximum value of AUD$2.0M for a maximum term of 24 months

• Ability to draw down in minimum tranches of $250,000 at the Company’s discretion

• Interest rate of 6% per annum on drawn funds

• Unsecured and no conversion rights

• No requirement for the Company to repay principal or interest during the loan term

• Repayable by Elementos at any time during the loan term

The Company’s board (with Mr Greig abstaining) determined that the loan is on arm’s length commercial terms and as such, resolved to execute the loan agreement.

The Facility along with the Company’s existing cash balance of $850,000 (as at 31 March 2019) provides Elementos with the flexibility to draw down funds to continue progressing its Oropesa development strategy in Spain (ASX Announcement 19 February 2019) that is focused on:

• Additional drilling to target a resource expansion at Oropesa

• Optimisation of the process flowsheet to improve tin recoveries and minimise operating costs

• Finalisation of the right to operate (Development approvals etc)

For more information, please contact:

Duncan Cornish

Company Secretary Phone: +61 7 3212 6299

Victoria Humphries

Investor Relations

Phone: +61 (0) 431 151 676

Email: admin@elementos.com Please visit us at: www.elementos.com.au

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victoria@nwrcommunications.com.au

C A U T I O N A R Y S T A T E M E N T S

F o r w a r d - l o o k i n g s t a t e m e n t s

This document may contain certain forward-looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond the company’s control. Actual events or results may differ materially from the events or results expected or implied in any forward-looking statement.

The inclusion of such statements should not be regarded as a representation, warranty or prediction with respect to the accuracy of the underlying assumptions or that any forward-looking statements will be or are likely to be fulfilled. Elementos undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this document (subject to securities exchange disclosure requirements).

The information in this document does not take into account the objectives, financial situation or particular needs of any person or organisation. Nothing contained in this document constitutes investment, legal, tax or other advice.

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