KINGSROSE MINING LIMITED — Capital/Financing Update 2016

Oct 31, 2016

ASX Announcement 1 November 2016

Debt Restructure

Kingsrose Mining Limited (ASX: KRM) advises that it is currently in discussions with its Lenders regarding a number of proposed changes to the Loan and Security Agreements ( Agreements ), including changes to the repayment schedule. (Refer to Appendix 2 of the Investor Presentation dated 21 July 2016).

To enable time for all parties to agree and finalise the proposed changes to the Agreements, the Lenders have extended the time for completing the documentation until 21 November 2016. In addition, the Lenders have agreed to defer the October 2016 repayment pending the finalisation of the revised repayment schedule.

-ENDS-

For more information please contact:

Investor Enquiries: John Morris, Chairman +61 8 9486 1149 info@kingsrosemining.com.au

Media Enquiries: Paul Armstrong, Read Corporate +61 8 9388 1474 paul@readcorporate.com.au

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----- Start of picture text ----- Suite 9, Level 2, 12-14 Thelma Street, West Perth WA 6005 | P (08) 9486 1149 | F (08) 9486 1151 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: KRM info@kingsrosemining.com.au | www.kingsrosemining.com.au | ASX: KRMABN: 49 112 389 910 ABN: 49 112 389 910----- End of picture text -----