FREEHILL MINING LIMITED. — Capital/Financing Update 2018

Dec 30, 2018

==> picture [195 x 130] intentionally omitted <==

31 December 2018

Placement of Rights Issue Shortfall

Freehill Mining Limited (‘ Freehill’ or ‘the Company’ ) (ASX: FHS) is pleased to confirm the placement of 13,333,334 new fully paid ordinary shares to a professional and sophisticated investor, raising a further $200,000. As advised on 4 December 2018, under the terms of the Rights Issue which closed at 5:00pm (AEDT) on Thursday, 29 November 2018, the Directors of the Company reserved the right to issue the Rights Issue shortfall of 151,969,259 ordinary shares within 3 months of the Rights Issue closing date. The new shares placed form part of this shortfall. An Appendix 3B will be lodged with ASX in respect of the new shares.

Freehill advises that it is in active discussions with a number of parties interested in participating in the remainder of the shortfall. Further options are also being assessed.

Yours sincerely,

==> picture [81 x 30] intentionally omitted <==

Mr Frank Pirera Company Secretary