ENOVA MINING LIMITED — Capital/Financing Update 2016

Nov 10, 2016

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11[th] November 2016

Company Announcements Office Australian Securities Exchange 4[th] Floor 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

LOAN AGREEMENT

The Company has today entered into a loan agreement with Atlas Offshore Services Pty Ltd, a company owned jointly by director Stanislaw Wassylko and Harun Halim Rasip, a director of EMMCO Mining SDN BHD (EMMCO).

The loan of $350,000 is for a period of 6 months from the date funds are received. Interest is payable at a flat rate of 7.5%.

The funds will be used for:

• (i) administrative and regulatory costs incurred to the end of 2016

• (ii) statutory tenement rental payments and ongoing maintenance expenditure in respect to tenements

• (iii) the holding of an Extraordinary General Meeting before the end of 2016 to secure shareholder approval for the acquisition of Essential Mining Resources Pty Ltd, and

• (iv) the formulation of development plans for the Charley Creek Alluvial Rare Earth Project

The Company is actively working on a development strategy, based on results from our recent ‘sighter test work’, as previously advised in our recently released September 2016 Quarterly Report. Funding from this loan will allow the Company to undertake further follow up test work and complementary studies. The Company intends to seek further funds, in the New Year, to repay this debt, and to accelerate progress towards a Feasibility Study for the Charley Creek Project.

CROSSLAND STRATEGIC METALS LIMITED ABN 64 087 595 980 PHONE: +61 8 89815911 FACSIMILE: +61 8 89411364 EMAIL: admin@crosslandstrategic.com.au ADDRESS: Unit 8, Raffles Plaza, 1 Buffalo Court, Darwin 0800 NT GPO Box 2437 Darwin NT 0801 AUSTRALIA

We maintain our focus and confidence toward becoming a low-cost environmentally sustainable rare earth producer.

Yours Sincerely

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Eric Vesel Director

CROSSLAND STRATEGIC METALS LIMITED ABN 64 087 595 980 PHONE: +61 8 89815911 FACSIMILE: +61 8 89411364 EMAIL: admin@crosslandstrategic.com.au ADDRESS: Unit 8, Raffles Plaza, 1 Buffalo Court, Darwin 0800 NT GPO Box 2437 Darwin NT 0801 AUSTRALIA