IONIC RARE EARTHS LIMITED — Capital/Financing Update 2013

Dec 22, 2013

ASX RELEASE

23 December 2013

SHARE PLACEMENT

Oro Verde Limited (ASX: OVL) (”Oro Verde”) announces that it has received commitments to participate in a share placement (“Placement”) of 15,000,000 fully paid ordinary shares at $0.016 each to raise approximately $240,000. The Placement, which falls within the Company’s 15% capacity, was undertaken by CPS Capital Group (“CPS”) to professional and sophisticated investors.

Oro Verde has portfolio of projects in Chile including the promising Timon project and intends to use the proceeds from the Placement to supplement existing working capital.

This announcement will remove Oro Verde from its current trading halt.

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For enquiries contact:

Dr Wolf Martinick Chairman / Managing Director +61 417 942 466

Brett Dickson Company Secretary +61 8 9481 2555

Oro Verde Limited (ABN 84 083 646 477) Level 1, 30 Richardson Street, West Perth, WA 6005 PO Box 493, West Perth, WA 6872 Telephone: + 61 8 9481 2555

www.oroverde.com.au