IONIC RARE EARTHS LIMITED — Capital/Financing Update 2015

Jun 24, 2015

ASX ANNOUNCEMENT

25 June 2015

RESULTS OF CAPITAL RAISING

The Board of Oro Verde Limited (ASX: OVL) (“Oro Verde”) is pleased to advise that the Company’s capital raising has closed, with total funds raised of $536,500. The funds, comprising $286,500 raised from the Share Purchase Plan together with $250,000 raised from a share placement earlier this month, will be used to progress the Company’s high grade Topacio Gold Project in Nicaragua as well as for working capital.

Oro Verde’s Managing Director, Mr Trevor Woolfe said, “ The funds raised will provide Oro Verde with additional capital to pursue its exploration activities in the very low cost regime of Nicaragua, where the main focus is on the Topacio Gold Project.”

Topacio has a historical NI 43-101 (Canadian standard) compliant Inferred Resource of:

2,716,176 tonnes at 3.9 g/t gold, containing 340,345 ounces of gold, at a 1.5 g/t gold cut-off.

(See ASX announcement: 11 November 2014) National Instrument 43-101 (“NI 43-101”) is a national instrument for the Standards of Disclosure for Mineral Projects within Canada and as such this estimate is a foreign estimate and is not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the foreign estimate as mineral resources in accordance with the JORC code and it is uncertain that following evaluation and/or further exploration work that the foreign estimate will be able to be reported as mineral resources in accordance with the JORC code.

- ENDS -

For enquiries contact:

Mr Trevor Woolfe Mr Brett Dickson Managing Director Company Secretary +61 411 127 837 +61 8 9481 2555

The information in this document that relates to Historical Mineral Resources is extracted from the report entitled “Acquisition of High Grade Gold Project” created on 11 November 2014 and available to view on www.asx.com. The Company confirms that it is not in possession of any new information or data that materially impacts on the reliability of the estimates in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

1