FREEHILL MINING LIMITED. — Capital/Financing Update 2018

Oct 22, 2018

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Freehill Mining Limited ACN 091 608 025 Tel: (+61 3) 8602 1700 88 Miller Street Email: info@freehillmining.com West Melbourne VIC 3003 Australia Website: www.freehillmining.com

23 October 2018

Dear Shareholder

Non-Renounceable Rights Issue – Appendix 3B Notice

Freehill Mining Limited (“Freehill” or the “Company”; ASX: FHS) announced on 22 October 2018 a capital raising by way of a non-renounceable pro-rata rights issue (“Rights Issue” or “Entitlement Offer”). In accordance with the Listing Rules of the Australian Securities Exchange, the Company is pleased to provide you with the following information about the Entitlement Offer.

Each eligible shareholder registered on the Company’s register at 7:00PM (Melbourne time) on 25 October 2018 (“Record Date”) will be entitled to subscribe for one (1) new share for every two (2) ordinary shares held at the Record Date at an issue price of $0.015 (1.5 cents) per new share. Under the Entitlement Offer, a maximum of 205,000,000 shares will be issued to raise up to approximately $3,075,000 (before costs and expenses).[1 ]

In addition to being able to apply for new shares under the Rights Issue, eligible shareholders will also have the ability to apply for additional new shares that are not subscribed for under the Rights Issue.

If you are an eligible shareholder you should read the Offer Booklet in its entirety before deciding whether to apply for new shares. If you do not understand any part of the Offer Booklet, or are in any doubt as to how to deal with it or your entitlement, you should consult your financial or other professional adviser.

The Offer Booklet is available to download from both the ASX website (www.asx.com.au) and the Company’s website (www.freehillmining.com), and will be mailed to eligible shareholders on or around 30 October 2018.

Please note that the Company’s shares will be quoted on an “ex” entitlement basis from 24 October 2018, and therefore any of the Company’s shares acquired on market on and after this date will not be entitled to participate in the Rights Issue. The Entitlement Offer opens on 30 October 2018 and is currently scheduled to close at 5:00PM (Melbourne time) on 8 November 2018.

The Entitlement Offer is not underwritten.

The net proceeds of the funds raised under the Rights Issue will be used to strengthen the Company’s financial position and fund the initial drilling with a view to establishing a JORC Resource.

1 The figures for the number of new shares and the amount to be raised are maximum figures only. They assume that all shareholders on the Record Date are Eligible Shareholders.

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The indicative timetable for the Rights Issue is as follows:

Event	Date
Announcement of Entitlement Offer, and Appendix 3B and	Monday, 22 October 2018
Offer Booklet lodged with ASX
Shareholder notice dispatched	Tuesday, 23 October 2018
	Wednesday, 24 October 2018
Shares traded on an “ex” Entitlement basis
	7:00PM on Thursday, 25 October 2018
Record Date for eligibility to participate in the Entitlement Offer
Offer Booklet and Entitlement and Acceptance Form	Tuesday, 30 October 2018
despatched to Shareholders
	9:00AM Tuesday, 30 October 2018
Opening Date for the Entitlement Offer
Last Date to extend the Closing Date for the Entitlement Offer	Monday, 5 November 2018
	5:00PM on Thursday, 8 November 2018
Closing Date for the Entitlement Offer
	Friday, 9 November 2018
New Shares Quoted on a Deferred Settlement Basis
	Tuesday, 13 November 2018
Notification to ASX of Under Subscriptions
Issue of New Shares under the Entitlement Offer and Deferred	Thursday, 15 November 2018
Settlement TradingEnds
	Friday, 16 November 2018
Trading of New Securities on ASX Commences

Dates and times in this announcement are indicative only and subject to change. All dates and times are references to Melbourne time.

Freehill reserves the right to amend any or all of these dates and times, subject to the Corporations Act, the ASX Listing Rules and other applicable laws and regulations.

Shareholder Enquiries

Shareholders who have questions relating to the Entitlement Offer should call the Company on +61 3 8602 1700 between 9:00am and 5:00pm (Melbourne time) on business days during the offer period for the Entitlement Offer.

Yours faithfully

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Raymond Mangion

Non-Executive Chairman

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