GR ENGINEERING SERVICES LIMITED — Capital/Financing Update 2014

Nov 18, 2014

19 November 2014

ASX ANNOUNCEMENT

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Execution of construction contract

MZI Resources Ltd (MZI) is pleased to announce that it has executed the construction contract for the Keysbrook Mineral Sands Project to GR Engineering Services Limited (GR Engineering) (ASX:GNG).

The contract is for engineering, procurement and construction services under a lump sum, turn key arrangement (LSTK) of $54.6 million for delivery of the Keysbrook mine site and upgrades to the existing mineral sands separation plant owned by Doral Mineral Sands Pty Ltd.

COMPANY DIRECTORS

Mal Randall Non-Executive Chairman Keith Vuleta Finance Director

Peter Gazzard Technical Director

Nathan Wong Non-Executive Director

CHIEF EXECUTIVE OFFICER

Trevor Matthews

GR Engineering were awarded preferred contractor status in October 2013 and since then have completed early engineering activities with respect to the construction project. This early engineering has improved knowledge of the project and MZI is confident that it will assist GR Engineering to derisk the construction effort.

MZI’s Chief Executive Officer Trevor Matthews said “We have a good relationship with GR Engineering and their appointment reflects the confidence we have in their ability to construct the project.

CONTACT DETAILS

Principal & Registered Office Level 2, 100 Royal Street East Perth Western Australia 6004

Website www.mzi.com.au

Signing the construction contract is one of the final activities prior to starting project development and we look forward to commencing soon.”

MZI expects to make a further announcement on the development decision for the Keysbrook Project imminently.

Email admin@mzi.com.au

Phone +61(8) 9328 9800

For further details please contact:

Trevor Matthews Chief Executive Officer +61 8 9328 9800

Fax +61(8) 9328 9911

ABN: 052 077 221 722 ASX CODE : MZI

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