IONIC RARE EARTHS LIMITED — Audit Report / Information 2016

Feb 2, 2016

3 February 2016

CHANGE OF AUDITORS

Oro Verde Limited (ASX: OVL) (“Oro Verde” or “the Company”) advises that Hewitt Turner & Gelevitis (“HWT”) sought consent from ASIC to resign as the Company’s Auditor. Its resignation was required to ensure ongoing compliance with the auditor rotation requirements of Division 5 Part 2M.4 of Chapter 2M of the Corporation Act.

ASIC has provided that consent and accordingly HWT has resigned as auditors, to be effective the date of this notice.

BDO Audit (WA) Pty Ltd, 38 Station Street Subiaco WA 6008 have consented to act as the Company’s auditors and will act as the Company’s auditor until its appointment is confirmed at the next general meeting of the Company.

-ENDS-

For further information, please contact:

Trevor Woolfe Managing Director Oro Verde Limited Ph: +61 411 127 837

Brett Dickson Finance Director Oro Verde Limited Ph: +61 8 9481 2555

Oro Verde Limited (ABN 84 083 646 477) Level 1, 34 Colin Street, West Perth, WA 6005 PO Box 493, West Perth, WA 6872 Telephone: + 61 8 9481 2555

www.oroverde.com.au