FREEHILL MINING LIMITED. — Capital/Financing Update 2017

Sep 11, 2017

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12 September 2017

PLACEMENT OF SHARES AND A$1,363,445 CAPITAL RAISING

Freehill Mining Limited ( Company ) is pleased to announce it has received commitments totalling A$336,000 from sophisticated and professional investors for the placement of new fully paid ordinary shares in the capital of the Company ( New Shares ) at an issue price of A$0.08 per New Share. The Company has also made arrangements with a number of the Company’s existing debt holders, to convert debt amounts owed by the Company totalling A$1,027,445, into equity in the Company. The placement results in the issue of a total of 17,043,068 New Shares in the Company.

The funds raised under the placement, totalling A$1,363,445, will be applied to reduction of debt, the expansion of crushing production at the Company’s Yerbas Buenas Project, and adding to general working capital.

An Appendix 3B will be lodged with ASX in respect of the New Shares.

Yours sincerely,

Stephen Chaplin Chairman

About Freehill Mining Ltd

Freehill Mining Ltd (ASX:FHS) is an ASX listed company, which is engaged in identifying quality resource opportunities with an identifiable short term horizon to production.

Freehill Mining Ltd is pursuing this strategy in respect of the iron ore tenements owned by two of its Chilean incorporated subsidiaries, Yerbas Buenas SpA (YB SpA) and San Patricio Mineria SpA (SP SpA), collectively the Yerbas Buenas Project. The operations at the Yerbas Buenas Project involve the mining of magnetite iron ore from hard rock and sands at the surface, and other resources have been identified as potentially present at the Yerbas Buenas Project Area.

The Yerbas Buenas Project Area is located 30 kilometres north of the city of La Serena in the IV Region of Coquimbo, Chile. The Yerbas Buenas Project spans 398 hectares. There is an existing operating mine and established commercial sales relationships with key partners in Chile. In the near future FHS intends to commence a drilling program to prove up its reserves at the Yerbas Buenas project. For further information, please refer to the prospectus located on our website at www.freehillmining.com

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Freehill Mining Ltd 88 Miller Street West Melbourne VIC 3003

ACN 091 608 025 www.freehillmining.com