IMPACT MINERALS LIMITED — M&A Activity 2013

Oct 23, 2013

ASX ANNOUNCEMENT ASX: IVG

Date: 24 October 2013 Number: 113/241013

MERGER WITH IMPACT MINERALS LIMITED COURT APPROVES CONVENING OF SCHEME MEETINGS

Invictus Gold Limited (ASX: IVG) (Invictus) is pleased to announce that the Court has today made orders approving the convening of meetings of Invictus shareholders and optionholders (Scheme Meetings) to consider the proposed acquisition by Impact Minerals Limited (ASX: IPT) (Impact) of all of the issued shares in Invictus it does not already own and the proposed cancellation of all of the listed options in Invictus by means of a share scheme of arrangement and a related option scheme of arrangement (Schemes).

The Court has also approved the explanatory statement and notices of Scheme Meetings (Scheme Booklet) for despatch to Invictus shareholders and optionholders by Wednesday, 6 November 2013.

A copy of the Court's orders are attached to this announcement.

A copy of the Scheme Booklet will be released to ASX and made available on the Invictus website at www.invictusgold.com.au following registration of the Scheme Booklet with ASIC (expected to occur on 25 October 2013).

The Share Scheme Meeting will be held at 11am (AWST) and the Option Scheme Meeting will be held at the later of 11:30am (AWST) or the conclusion of the Share Scheme Meeting, on Tuesday, 10 December 2013 at Bentleys (WA) Pty Ltd, Level 1, 12 Kings Park Road, West Perth, WA, 6005.

The Scheme Booklet contains an Independent Expert Report prepared by BDO Corporate Finance (WA) Pty Ltd, which concludes that the Share Scheme is fair and reasonable and in the best interests of Invictus shareholders. It also concludes that the Option Scheme is not fair but reasonable and is in the best interests of Invictus optionholders.

Your Invictus Directors unanimously recommend that Invictus shareholders and optionholders vote in favour of the Schemes, in the absence of a superior proposal.

In considering this recommendation, Invictus shareholders should be aware that two of Invictus' four directors, Mr Peter Unsworth and Dr Michael Jones, are directors of, and hold securities in, both Impact and Invictus.

James Cooper-Jones Company Secretary

No: (P)WAD381/2013

Federal Court of Australia District Registry: Western Australia Division: General

INVICTUS GOLD LIMITED ACN 145 891 907 Plaintiff

ORDER

DATE OF ORDER:

JUDGE:

WHERE MADE:

Perth

Justice Barker

24 October 2013

JPY

THE COURT ORDERS THAT:

• The plaintiff convene: 1.
• (a) a meeting of holders of fully paid ordinary shares in the capital of the plaintiff other than Impact (Shareholders) to be held in Perth, Western Australia on 10 December 2013 at 11:00am or on such other date and such other time as the Court may approve (Share Scheme Meeting) for the purpose of considering and if thought fit, approving with or without modifications, the scheme of arrangement proposed between the plaintiff and its Shareholders (Share Scheme) which is annexure D to the draft scheme booklet and explanatory statement, being annexure RJB1 to the affidavit of Mr Richard John Basham sworn on 9 October 2013 and filed herein (Scheme Booklet).
• (b) a meeting of holders of options to subscribe for shares in the plaintiff of the classes set out in the Scheme Booklet, other than Impact, (Optionholders) to be held in Perth, Western Australia on or about 10 December 2013 at 11:30 am or on such other date and such other time as the Court may approve (Option Scheme Meeting) for the purpose of considering and if thought fit, approving with or without

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dispatch, on or before 6 November 2013 or such other date as directed by the Court, the Scheme Booklet, substantially in the form approved and order 7 above, to the Shareholders and Optionholders who appear on the register of members and register of optionholders on the day before the date of dispatch by ordinary pre-paid post (or by airmail to overseas holders) and such dispatch is to be taken to be sufficient notice of the meetings.

• 1. The matter is to be relisted on 17 December 2013 at 9:15am for such application as appropriate following the Scheme Meetings.
• 1. If the matter is relisted, the plaintiff is to give notice of the hearing of the application pursuant to section 411(4)(b) of the Act for orders approving the Share Scheme or Option Scheme or both by publishing an advertisement in the public notices column of "The Australian" and "The West Australian" newspapers substantially in accordance with Form 6 of the Federal Court (Corporations) Rules 2000 (Cth), such advertisement to be published on 11 December 2013 and the plaintiff otherwise be exempted from compliance with rule 3.4 of the Federal Court (Corporations) Rules (Cth).

Date that entry is stamped: 24 OCT 2013