JAMESON RESOURCES LIMITED — Capital/Financing Update 2017

Jun 14, 2017

15 JUNE 2017

Fast Facts	ASX: JAL
Share Price Range (6mths)Shares on Issue	$0.08 - $0.11250,625,018
Market Capitalisation	~$23M
Major Shareholders
(as at 14 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

Overview

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

Crown Mountain Coking Coal Project Moving Forward on Multiple Fronts

Highlights

• The recent $2.6 million raised via placement has allowed Jameson to pursue multiple critical path items at Crown Mountain.

• Summer field work on several environmental studies is underway.

• Initial preparation of the Application for an Environmental Assessment certificate has been authorized.

• Preliminary engineering design of the spoil/refuse disposal regimen for the project will commence later this month.

• Execution of the above initiatives keeps Crown Mountain on the development schedule presented in the recent PFS Update for start of construction in 2019.

• Discussions continue to progress between Jameson and several third parties regarding the potential off-take of the Project’s hard coking coal.

Jameson Resources (“Jameson”, the “Company”) is pleased to announce it is in the process of awarding multiple work items at Crown Mountain which enables critical path items to progress as set out in the development schedule contained in the April PFS Update.

That schedule projected mine construction in 2019 and first production in the second half of 2020.

As environmental field work is being completed over the summer, the initial preparation of the Application for an Environmental Certificate is commencing. Concurrently, preliminary engineering design of the critical spoil/refuse storage facility will begin.

Combined, these activities address the current critical path items identified in the project development schedule.

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

Canada

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

Jameson reached a milestone last week when we submitted a revised and advanced version of the Application Information Requirements (“AIR”) document to the province. Once the province completes its review of the AIR and accepts it as final, the Company will know with relative certainty how the Application for an EA Certificate must be compiled. The initial preparation of the Application will now commence, concurrent with the province’s review of the AIR.

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DISCUSSION

Earlier this month, Jameson completed a $2.6 million placement. Those funds will be used primarily to advance the Crown Mountain Coking Coal Project (“Crown Mountain”, the “Project”, the “Asset”) toward development.

The April PFS Update projected the start of construction as 2019, with first production in the second half of 2020, provided the Company executed the required tasks in a timely and efficient manner, and subject to a satisfactory Definitive Feasibility Study and availability of adequate funding.

A detailed matrix of all environmental field work and related reporting has been prepared, and represents items yet to be completed (a great deal of environmental work was done in concert with the ongoing exploration program at Crown Mountain).

An Environmental Assessment (“EA”) Certificate is a pre-requisite for most other permits required to construct and operate a mine. Preparing the Application for the EA Certificate, including the results and evaluation of the ongoing environmental field work, is expected to take approximately one year. Jameson has authorized that process to begin.

Of all the engineering and design work required for the Project, the methodology for disposing of spoil and plant refuse is perhaps the most critical, as this activity directly affects downstream water quality. It is essential to develop the conceptual plan into an engineered design, including necessary pilot scale modelling. The Company will award the first phase of preliminary design to a consulting firm within the next few weeks.

As these efforts advance, Jameson will continue the process of identifying a suitable off-take and/or JV partner to assist in moving the project forward through not only the permitting and Definitive Feasibility stages, but into construction as well. The preferred outcome is to reach agreement with such a potential entity on an investment directly into the Asset on a minority-interest basis, thus minimizing further shareholder dilution.

On Behalf of the Board of Directors,

Art Palm Chairman & Chief Executive Officer

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Mineral Reserves and Pre-Feasibility Study Results

The information in this ASX announcement relating to the Mineral Reserve Estimate and Pre-feasibility Study Results of the Company’s Crown Mountain Coal Project are extracted from the ASX Release entitled “PFS Update Yields Lower CAPEX and OPEX and Outstanding Financials, Demonstrating the Significant Potential of Crown Mountain” announced on 26 April 2017 and is available to view on the ASX website (ASX:JAL), and the Company's website. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, that all material assumptions and technical parameters underpinning the reserve estimates and Pre-feasibility study results 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.

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