JAMESON RESOURCES LIMITED — Capital/Financing Update 2017

Jun 19, 2017

20 JUNE 2017

Fast Facts ASX: JAL

Share Price Range (6mths)Shares on IssueMarket Capitalisation	$0.08 - $0.11250,625,018~$25M
Major Shareholders(as at 19 JUNE 2017)
AustralianSuperAcorn Capital Limited	9.6%7.1%
Hillboi Nominees	5.6%

Directors & Management

Art Palm (Chairman & CEO) Steve van Barneveld (Non Executive Director) Joel Nicholls (Non Executive Director)

Key Projects

Crown Mountain Coking Coal Project Elk Valley Coal Field, Canada Dunlevy Coal Project Peace River Coal Field, Canada

Investment Highlights

• ✓ Positioned in world class metallurgical coalfields

• ✓ Significant development expertise on board with successful track record

• ✓ Modern rail and port facilities

• ✓ Strong financial position

Newsflow / Catalysts

Update on British Columbia Exploration Tax Credit Assessment – Jameson Files Formal Objection

Highlights

• Jameson has filed an objection to the C$244,921 tax credit refund disallowed by the Canada Revenue Agency (“CRA”), for the 2014 Tax Year.

• An additional objection has been filed for C$296,057 disallowed for the 2015 Tax Year.

Jameson Resources (“Jameson”, the “Company”) previously announced CRA had, upon audit, disallowed certain claims made by Jameson under the British Columbia Mining Exploration Tax Credit (“BCMETC”) program. Total disallowance for the Tax Years 2014 and 2015 amounted to C$540,978 of which C$244,921 (2014 claim) had already been refunded to the Company pre-audit.

BCMETC applies to certain expenses associated with exploration and related environmental activities. In Jameson’s case, all disallowed expenses are for the Crown Mountain Coking Coal project.

Over the last several weeks, Jameson retained a legal taxation specialist from a highly respected international accounting firm to review the BCMETC filings. That firm confirmed the basis for the claims, and has now prepared an extensive objection to the CRA disallowances. The objection has been filed with CRA. A hearing on this matter will be scheduled in the months to come.

In the Company’s most recent half-yearly financial report (for the period ending December 31, 2016), it was noted a provision had been established to recognize the potential liability related to returning the 2014 refund (C$244,921) to CRA. No such provision is required for the 2015 claim, as no refund was received.

Overview

Crown PFS update Complete Complete Crown EA pre-app Q3 2017 Off-take and JV discussions ongoing

Jameson and its tax advisers remain confident in the validity of the BCMETC claims, and will vigorously pursue a favourable resolution of this matter.

Contact Details

Overview

Australia

Suite 5, 62 Ord Street West Perth, WA 6005 P +61 (8) 9200 4473 F +61 (8) 9200 4463 E admin@jamesonresources.com .au

This issue does not affect Jameson’s execution of multiple initiatives to keep Crown Mountain on track with the project development schedule contained in the recently released PFS Update.

On Behalf of the Board of Directors,

Canada

Suite 800, 1199 West Hastings, Vancouver P +1 (604) 629-8605

Art Palm Chairman & Chief Executive Officer

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www.jamesonresources.com.au

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About Jameson Resources Limited

Jameson Resources Limited (ASX:JAL) is a junior resources company focused on the acquisition, exploration and development of strategic coal projects in western Canada. The Company has a 90% interest in the Crown Mountain coking coal project, and a 100% interest in the Dunlevy coal project, both located in British Columbia. Jameson’s tenement portfolio is positioned in coalfields responsible for the majority of Canada’s metallurgical coal exports and is near railways connecting to export facilities.

To learn more, please contact the Company at +61 89200 4473, or visit: www.jamesonresources.com.au

Forward Looking Statements

This announcement contains “forward-looking statements”. Such forward-looking statements include, without limitation: estimates of future earnings, the sensitivity of earnings to commodity prices and foreign exchange rate movements; estimates of future production and sales; estimates of future cash flows, the sensitivity of cash flows to commodity prices and foreign exchange rate movements; statements regarding future debt repayments; estimates of future capital expenditures; estimates of resources and statements regarding future exploration results; and where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to commodity price volatility, currency fluctuations, increased production costs and variances in resource or reserve rates from those assumed in the company’s plans, as well as political and operational risks in the countries and states in which we operate or sell product to, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company’s Annual Reports, as well as the Company’s other filings. The Company does not undertake any obligation to release publicly any revisions to any “forward looking statement” to reflect events or circumstances after the date of this release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws .

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www.jamesonresources.com.au