IONIC RARE EARTHS LIMITED — Capital/Financing Update 2018

Aug 1, 2018

2 August 2018

The Company Announcements Office Australian Securities Exchange via electronic lodgment

Oro Verde Limited (“Oro Verde” or “the Company”) is pleased to advise that it has appointed 1620 Capital Pty Ltd (“ 1620 ”) as a Corporate Adviser to the Company.

1620 Capital is a boutique corporate advisory firm with an extensive network of contacts throughout Africa in the mining sector. As Corporate Advisor 1620 will, amongst other activities, assist the company in the identification of mining and exploration projects and provide ongoing understanding and analyses of project opportunities as well as identification of strategic options for the Company.

As consideration for its appointment Oro Verde will issue 50 million performance shares to 1620 as follows:

• 15 million performance shares which vest if the 10 Day volume weighted average price (“VWAP”) of the Company shares exceed $0.01 per share;

• 15 million performance shares which vest if the 10 Day volume weighted average price (“VWAP”) of the Company shares exceed $0.015 per share; and

• 20 million performance shares which vest if the 10 Day volume weighted average price (“VWAP”) of the Company shares exceed $0.02 per share

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For enquiries contact: Mr. Brett Dickson Finance Director +61 8 9481 2555

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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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