GENESIS MINERALS LIMITED — Capital/Financing Update 2017

Jun 14, 2017

Genesis Minerals Limited (ASX: GMD) ASX Announcement – 15 June 2017

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DRILLING COMMENCES AT HIGHLY PROSPECTIVE BARIMAIA GOLD PROJECT IN WA

Genesis targeting significant porphyry-hosted gold deposits near 6Moz Mt Magnet gold mine

Key Points:

• Maiden drilling program underway to evaluate the recently-optioned Barimaia Gold Project, located 10km SE of the 6Moz Mt Magnet gold mine.

• ~3,000m of aircore and ~900m of Reverse Circulation (RC) drilling planned.

• RC drilling to focus on the McNabs, McNabs East and McNabs SW prospects, where a significant new porphyry-hosted gold system has been identified under shallow cover.

• 80-hole aircore program to in-fill and extend the McNabs prospects over an area of ~2km by ~1km, as well as targeting the 3km x 1km undrilled area immediately SE of McNabs East. Assay results expected in July.

• The Project geology and mineralisation has strong similarities with the nearby porphyry-hosted gold deposits of Ramelius Resources Limited

Genesis Minerals Limited (ASX: GMD) is pleased to advise that it has commenced its maiden “proof-of-concept” drilling program at the recently optioned Barimaia Gold Project , located in the Murchison district of Western Australia (see Figure 1).

The drilling program, comprising ~3,000m of aircore (AC) and ~900m of Reverse Circulation (RC) drilling, will evaluate the potential of the Barimaia Project to host significant porphyry-hosted gold mineralisation within this active and well-endowed gold mining district.

Genesis secured the Barimaia Project recently under an Option Agreement with private company, Metallo Resources Pty Ltd (“Metallo”) (see ASX Announcement – 12 May 2017).

Under the terms of the agreement, Genesis will spend a minimum of $140,000 over a four-month period on the “proof-of-concept” exploration program, after which it may elect to acquire 100% of the ordinary shares in Metallo for total consideration of $250,000, which may be paid in cash or shares at its discretion.

Metallo holds the right to earn-in to an initial 65 per cent interest in the Barimaia Project (the Mt Magnet JV), with the potential to earn up to a maximum 80 per cent stake.

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Figure 1 – Barimaia Project Location

The Barimaia Project is located just 10km south-east (see Figure 1) of the 6Moz[1] Mt Magnet Gold Mine, operated by ASX-listed Ramelius Resources Limited.

1 Refer Ramelius Resources’ ASX Announcement dated 22 February 2017.

ASX Code: GMD www.genesisminerals.com.au T: +61 8 9322 6178

ABN: 72 124 772 041 Unit 6, 1 Clive St West Perth, WA, Australia, 6005

Genesis Minerals Limited

15 June 2017

The Option Agreement gives Genesis the opportunity to evaluate the potential of the Barimaia Project for large-scale, low strip ratio porphyry-hosted gold deposits.

The project’s close proximity to Mt Magnet and the various gold processing facilities in the region provides a potential low-cost pathway to production should an economic discovery be made.

Drilling Program

Recent exploration conducted by Metallo at Barimaia has identified a significant new porphyryhosted gold system measuring 1.5km x 0.5km beneath less than 10m of cover, in an area that had previously been assessed as un-prospective granite. The gold system remains open in all directions.

The McNabs Prospect area is an entirely new discovery under shallow cover and comprises significant gold mineralisation associated with porphyry bodies intruding an ultramafic dominated volcano-sedimentary package. The prospect geology and mineralisation has strong similarities (including geochemical signature being anomalous in Au-Bi-Te-Pb-W-Ag) with the nearby porphyryhosted gold deposits of Ramelius Resources Limited.

The current drilling program has been designed to link the previously identified porphyry intrusions at the McNabs, McNabs East and McNabs SW prospects and also to extend the porphyry system to the north, south and east (see Figure 2). The 3,000m/80-hole aircore drilling program will in-fill and extend the McNabs Prospects area and target the 3km by 1km area immediately to the south-east of the McNabs East prospect (see Figures 2 and 3).

The RC drilling will focus on the McNabs prospects, with drilling to be completed at McNabs, McNabs East and McNabs SW.

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Figure 2: Barimaia Project tenement showing the focus of the current drilling program

ASX Release: Drilling commences at highly prospective Barimaia Gold Project in WA

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Genesis Minerals Limited

15 June 2017

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Figure 3: Plan view of the McNabs Prospect – area the focus of aircore drilling

Management Comment

Genesis Managing Director Michael Fowler said the Company was excited by the opportunity to discover significant new mineralisation in a well-established mining area with proven potential to host large-scale gold systems.

“This is consistent with our corporate growth strategy, which is based on using the cash-flow generated from small-scale mining operations at our Ulysses Project to fund broader exploration and growth initiatives,” he said.

“The potential of this region has clearly been demonstrated by the success of Ramelius Resources in their exploration endeavours at the nearby Mt Magnet gold mine, and we are looking forward to the results of this drilling program.”

ENDS

For further information, visit: www.genesisminerals.com.au or please contact

Investors: Michael Fowler Managing Director Genesis Minerals Limited T: +61 8 9322 6178 E: mfowler@genesisminerals.com.au

Media: Nicholas Read Read Corporate T: +61 8 9388 1474 E: nicholas@readcorporate.com.au

ASX Release: Drilling commences at highly prospective Barimaia Gold Project in WA

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Genesis Minerals Limited

15 June 2017

COMPETENT PERSONS’ STATEMENTS

The information in this report that relates to Exploration Results is based on information compiled by Mr. Michael Fowler who is a full-time employee of the Company, a shareholder of Genesis Minerals Limited and is a member of the Australasian Institute of Mining and Metallurgy. Mr. Fowler has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Fowler consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Appendix 1: Forward Looking and Cautionary Statements

Some statements in this report regarding estimates or future events are forward looking statements. They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Forward looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “nominal”, “conceptual” and similar expressions. Forward looking statements, opinions and estimates included in this announcement are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance. Forward looking statements may be affected by a range of variables that could cause actual results to differ from estimated results, and may cause the Company’s actual performance and financial results in future periods to materially differ from any projections of future performance or results expressed or implied by such forward looking statements. These risks and uncertainties include but are not limited to liabilities inherent in mine development and production, geological, mining and processing technical problems, the inability to obtain any additional mine licenses, permits and other regulatory approvals required in connection with mining and third party processing operations, competition for among other things, capital, acquisition of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value of acquisitions, changes in commodity prices and exchange rate, currency and interest fluctuations, various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions, the demand for and availability of transportation services, the ability to secure adequate financing and management’s ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward looking statements will prove to be correct.

This announcement has been prepared in compliance with the JORC Code (2012) and the current ASX Listing Rules.

ASX Release: Drilling commences at highly prospective Barimaia Gold Project in WA

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