KINGSROSE MINING LIMITED — Capital/Financing Update 2015

Nov 2, 2015

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ASX Announcement 3 November 2015

Variation of Loan Repayment Profile

Lenders post strong vote of confidence in outlook by agreeing to postpone further repayments until April next year

Kingsrose Mining Limited (“Kingsrose” or the “Company”) is pleased to advise that it has agreed with each of its lenders, Michael John Andrews, Great Golden Investment Limited and Beaurama Pty Ltd (“the Lenders”) to restructure the repayment profile of the Company’s Loan Facilities.[1]

The Company commenced repayment of the Loan Facilities on 31 July 2015, with a total of A$1.8M of loan being repaid to date. In light of recent operational challenges faced by the Company, the Board has considered it prudent to defer any further repayment of the remaining A$10.1M for a period of six (6) months.

Under the revised terms, repayment of the outstanding principle will recommence in April 2016 with final repayment due in August 2017. Interest is payable monthly in arrears and the applicable interest rates remain unchanged. No restructuring fees were charged by the Lenders.

Non-Executive Director Bill Phillips commented “ the Lenders have a long standing relationship with Kingsrose and are pleased to provide ongoing support whilst the Company works to establish a stable, long term production profile from the Talang Santo Mine. The successful transition to Shrink and Gallery stoping during the September quarter with an initial 4,272t at 16.94 g/t Au mined from the 4 Level stopes bodes well for the December quarter and reaffirms our view that the Talang Santo Mine is a high grade ore body capable of delivering long term value to shareholders. ”

-ENDS-

For further information please contact: Scott Huffadine Matthew Smith Managing Director Chief Financial Officer +61 8 9486 1156 +61 8 9486 1156

1The variation to the repayment profile of the Loan Facilities falls under the scope of the waiver from Listing Rule 10.1 granted by ASX on 30 January 2015 and as such, the terms and conditions attached to that waiver still apply. (Refer ASX Announcement dated 30 January 2015).

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----- Start of picture text ----- months which has yielded early stage success with gold veins identified undercover and encouraging results from a recent orientation drilling programtesting blind mineralisation.Suite 9, Level 2, 12-14 Thelma Street, West Perth WA 6005 | P (08) 9486 1149 | F (08) 9486 1151info@kingsrosemining.com.au | www.kingsrosemining.com.au | ASX: KRMABN: 49 112 389 910----- End of picture text -----