ESTRELLA RESOURCES LIMITED — Capital/Financing Update 2016

Mar 23, 2016

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24 March 2016

Company Announcements ASX Limited

Information Disclosed Under ASX LR 3.10.5A and 7.1A.4(b)

Further to the ASX announcement of 16 March 2016 and Appendix 3B lodged by Estrella Resources Limited (Estrella or the Company) today regarding completion of a $561,000 share placement, Estrella provides the following additional information under ASX Listing Rule 3.10.5A:

• (a) The Company issued a total of 33,000,000 fully paid ordinary shares of which 9,712,507 shares were issued under Listing Rule 7.1A and the remaining shares were issued under the Company’s 15% placement capacity under Listing Rule 7.1.

The securities issued under Listing Rule 7.1A resulted in the following dilution to existing holders of ordinary securities.

• Number of fully paid ordinary shares on issue prior to this issue of securities under LR7.1A was 178,537,452.

• Number of fully paid ordinary shares on issue following this issue of securities under LR7.1A was 188,249,959.

• Percentage of voting dilution following this issue is 5.1%.

• (b) Estrella issued the shares as a placement under Listing Rule 7.1A as it believed that this was the most efficient mechanism for raising funds at this time, and the price at which the funds have been raised approximates (97%) the 15 day VWAP prior to the date of issue.

• (c) The placement was not underwritten.

• (d) The placement was undertaken by Forrest Capital Pty Ltd and Cove Capital Pty Ltd with broker fees of 6% of the amount raised.

Guy Robertson Company Secretary

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Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au