IONIC RARE EARTHS LIMITED — Capital/Financing Update 2016

Aug 25, 2016

26 August 2016

SHARE PLACEMENT

Oro Verde Limited (ASX: OVL) ( Oro Verde or the Company ) is pleased to advise it has reached agreement to place approximately 70,000,000 shares to institutional and sophisticated investors at an average price of $0.012 to raise $840,000 before expenses of the issue.

Oro Verde’s Finance Director, Mr Brett Dickson, said investor support was strong and the placement closed heavily oversubscribed.

“ I am very pleased with the support shown from both existing and new shareholders with significant interest coming out of North America. Oro Verde’s Topacio project is entering a very exciting phase with strong drill targets being generated by results from recent exploration activities” he said.

Patersons Securities Limited acted as Lead Manager to the placement with Tectonic Advisory Partners LLC (acting through Ecoban Securities Corporation) serving as North American Placement Agent.

Funds raised under the placement will be used to advance the Company’s projects in Nicaragua as well as for general working capital.

This announcement ends the current trading halt.

-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

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