KINGSROSE MINING LIMITED — Capital/Financing Update 2017

Jul 10, 2017

SUBJECT TO DEED OF COMPANY ARRANGEMENT

ASX Announcement 11 July 2017

Increased Production at The Way Linggo Project

• Total production at the Way Linggo Project of ~5055oz of gold in the June quarter, representing a 50% increase from the March 2017 Quarter and a 183% increase over the December 2016 Quarter

• The open cut at the Way Linggo Mine is delivering promising results with ~16,938 tonnes of ore mined at a grade of ~7.5g/t Au during the June 2017 Quarter

Kingsrose Mining Limited (subject to deed of company arrangement) ( Kingsrose or the Company ) is pleased to advise that operations at the Way Linggo Project in Indonesia is progressing well, with production in the June 2017 Quarter increasing 50% from the previous quarter to ~5055 ounces of gold.

The increased production, which saw mined tonnages rise by 78% to 22,489 tonnes, is due largely to the successful commencement of open cut activities at the Way Linggo Mine.

The Way Linggo open cut has been designed to mine the Measured Resource above the 1 Level of the Way Linggo underground mine. The open cut will recover the pillars and remnant ore that was unable to be mined using the methods in place at the Way Linggo Mine.

In parallel with the open cut at Way Linggo, a study is underway to explore the possibility of resuming underground mining at the Way Linggo Mine utilising greater mechanised mining methods to safely recover as much as possible of the remaining Measured Resource.

~5,551 tonnes at an average grade of 7.6g/t Au was mined from the Talang Santo Mine during the Quarter. Water ingress into the mine continues to remain a challenge and impact production rates.

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SUBJECT TO DEED OF COMPANY ARRANGEMENT

Deed Administrator Michael Ryan said: “ These results are pleasing and provide evidence that our strategy to return the Way Linggo Project to profitability is working.

“In addition to these production scenarios, there is substantial regional exploration potential at the Way Linggo Project and we intend to address this opportunity in coming months.”

-ENDS-

Enquiries: Michael Ryan, Ian Francis and Eileen Chan FTI Consulting +61 8 9321 8533

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