GENESIS RESOURCES LIMITED — Capital/Financing Update 2015

Mar 11, 2015

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GENESIS RESOURCES LIMITED

(ASX: GES)

ASX and Media Release

12 March 2015

Approval of Plavica tenement Mining Licence in Macedonia

Genesis Resources Limited ( Genesis or the Company ) is pleased to provide shareholders with an update in respect of its pending application to the Macedonian Ministry of Economy for a 30 years exploitation (mining) licence for the Plavica tenement.

Background

As announced to the market on 28 August 2014, Genesis and its Macedonian-based joint venture partner RIK Sileks AD Kratovo ( Sileks ) jointly incorporated a company in Macedonia, Silgen Resources International Ltd, Kratovo ( JV Company ), which is 62% owned by Genesis and 38% owned by Sileks’ nominee. In late 2014 the JV Company submitted an application for an exploitation (mining) licence for a 30 year term for the Plavica tenement to the Ministry of Economy ( Licence ); for reference, the area covered by the application totals 16.85 km[2 ] (see Figure 1 below).

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Figure 1: Area covered by the 30 year exploitation (mining) licence submitted by the JV Company. Co-ordinates shown are in the Gauss-Kruger system

GENESIS RESOURCES LIMITED ACN 114 787 469 Level 1, 61 Spring Street, Melbourne, Victoria 3000, Australia T + 61 3 9286 7500 | F + 61 3 9662 1472 | www.genesisresourcesltd.com.au

In-principle approval of exploitation (mining) licence for Plavica tenement

Genesis is pleased to confirm that it has received advice that the Government of Macedonia has made an in-principle decision to approve the JV Company’s application for the Licence for a term of 30 years.

In accordance with Macedonian legislation, the Government of Macedonia has published in an official governmental gazette its decision to grant the Licence to the JV Company. Formal grant of the Licence will take effect upon the signing of a concession agreement between the JV Company and the Government of Macedonia, which is expected to be on or around late March 2015.

Next steps

Pending the completion of the formalities described above, Genesis will, through its 62% ownership of the JV Company, have a direct interest in the Licence. The JV Company currently owns all assets in respect of the Plavica tenement.

As the joint venture party responsible for managing the Plavica Project, Genesis is well positioned to immediately commence (weather conditions permitting) implementing its 2015 strategic objectives at the Licence area once the Licence is formally granted.

Further updates

The Company looks forward to providing further updates to the market as and when developments occur, particularly when it receives formal notification of grant of the 30 year exploitation Licence.

-Ends-

For further information, please contact:

Sophie Karzis Company Secretary T: +61 3 9286 7501 M: 0409 540 827 E: sk@ccounsel.com.au

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