GENESIS MINERALS LIMITED — Capital/Financing Update 2012

Feb 28, 2012

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Unit 6, 1 Clive St West Perth WA 6005

29 February 2012

PO BOX 437 West Perth WA 6872 Tel: +618 9322 6178

ASX Announcement

www.genesisminerals.com.au ABN: 72 124 772 041

GENESIS RAISES $0.5 MILLION

Genesis Minerals Limited (ASX: GMD; “Genesis”) is pleased to announce it has raised $0.5 million through the placement of 3.33 million fully paid ordinary shares to sophisticated investors at $0.15 per share (the “Placement”). The Placement comprises less than 15% of the issued capital of Genesis and as such does not require shareholder approval.

Genesis intends using the proceeds from the Placement to accelerate exploration activities at its highly prospective Poncha and Los Opeñas Projects in Argentina and its Dinamarquesa and Cerro Verde Projects in northern Chile. The Company intends to commence drilling at the Poncha Project during the second half of March, targeting a number of exciting high-grade epithermal gold targets. This will be followed by the first ever drilling program at the Los Opeñas Project where a number of drill ready targets exist.

The Company is also completing a $4.0 million, two-stage capital raising, as announced on the 23[rd] November 2011. A General Meeting of the Company will be held on the 21[st] March 2012 to approve the first stage of this capital raising being the placement of up to 22 million shares at $0.10 per share and the issue of up to 5 million shares upon conversion of $0.5 million of Convertible Notes. Details can be found in the Notice of Meeting (GMD ASX Release 21-02-2012: Notice of General Meeting and Explanatory Memorandum) lodged with the ASX on the 21[st] February 2012. Following the General Meeting, Genesis intends to proceed with a fully underwritten one (1) for eight (8) nonrenounceable rights issue at $0.10 per share.

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Michael Fowler Managing Director

Further Information

Contact - Michael Fowler +61 8 9 322 6178 or mfowler@genesisminerals.com.au

The information in this announcement was compiled by Michael Fowler, Genesis Minerals Limited’s Managing Director, who is a Member of The Australasian Institute of Mining and Metallurgy. Michael Fowler has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 JORC Code. Michael Fowler consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

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Genesis Minerals Limited ABN: 72 124 772 041