First Graphene Ltd. — Capital/Financing Update 2014

Mar 16, 2014

EXCITING INITIAL ANALYTICAL RESULTS

17 March 2014

MRL Corporation Limited

ACN 007 870 760 ABN 50 007 870 760

Registered Office

Suites 6 & 7 61 Hampden Road Nedlands WA 6009 Tel +61 1300 660 448 Fax +61 1300 855 044

Directors

Peter Reilly Craig McGuckin Denis Geldard Peter Hepburn-Brown

Company Secretary

Peter Youd

Email: info@mrltd.com.au Website: www.mrltd.com.au ASX Symbol

MRF, MRFO, MRFOA

MRL Corporation Ltd (“MRL” or “the Company”) is pleased to provide an update on the activities on its Sri Lankan graphite projects.

 Greater than 85% TGC results from unprocessed, remnant graphite stockpiles.

Warakapola Exploration Area

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Work continues at the Pandeniya Priority 1 area with the rehabilitation of the first adit now nearly completed. Importation of EM testing equipment is being completed and it is anticipated work will start in the next 10 days on the 20 line kilometres which have been cleared.

Results of the EM survey will provide information for the best drill hole locations.

Analytical results

As previously advised many old workings and remnant graphite stockpiles dating back in excess of 50 years since they were last mined are within the Priority 1 area. Samples from these stockpiles were recently sent to Perth for analysis at Nagrom, the mineral processor.

Both ICP and XRF were utilised as testing methods. Results received have been consistent under both methods and show the unprocessed remnant low grade samples contained ~85% TGC (Total Graphite Carbon). This result also matched at ~85% when tested for LOI (Loss on Ignition) at 1,000oC

The initial results are very exciting and confirm the high quality of Sri Lankan graphite.

Further testing will be undertaken by Nagrom on remnant graphite samples to establish the metallurgical process required to further upgrade the TGC content of the material to > 85%.

Drill core samples of high grade graphite grading ~95% TGC will also be tested to establish the most efficient processing route.

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For further information:

About Sri Lankan Lump/Vein Graphite

Lump or Vein graphite is considered to be one of the rarest, commercially valuable, and highest quality types of natural graphite. It occurs in veins along intrusive contacts in solid lumps and is currently only actively mined in Sri Lanka. Sri Lanka is the only country that produces commercial quantities of high grade vein graphite with carbon content greater than 90%Cgr (Carbon as graphite). As a result of the carbon content typically found within lump/vein graphite, production costs are normally lower than flake or amorphous graphite recovery.

Craig McGuckin Managing Director MRL Corporation Ltd

www.mrltd.com.au

Mining commenced at the Kahatagaha/Kolongaha (K/K) Mining Operations in 1872 and by the end of the 1990s had produced in excess of 300,000 tonnes of carbon as graphite. The operation is managed by Kahatagaha Graphite Lanka Limited (KGLL) and exports 100% of the products produced to major clients in the USA, United Kingdom, Japan, Australia India and Pakistan.

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