GOLD MOUNTAIN LIMITED — Capital/Financing Update 2012

Oct 17, 2012

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ACN 115 845 942

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Mollehuaca CIL Plant, Southern Peru

Attn: Company Announcements Office

Australian Securities Exchange

18 October 2012

Dear Sir Commissioners Gold Limited Share Placement

Commissioners Gold Limited is pleased to announce its recent Share Placement has been enthusiastically received by eligible investors and oversubscribed. The Board has today allotted 4,706,111 new CGU shares to rank equally with existing shares.

The Company will now make a formal application for a waiver from ASX Listing Rule 7.1 regarding a share purchase plan (SPP) on the same terms as the Placement to existing shareholders on the Register at the record date of 10 October 2012, announced to the market 11 October 2012.

Commissioners Gold Limited

Keith Taylor K R Taylor Company Secretary

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