LION SELECTION GROUP LIMITED. — Net Asset Value 2015

Jul 8, 2015

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ASX RELEASE : LSX

Net Tangible Asset Backing

Lion Selection Group Limited (Lion) advises that the unaudited net tangible asset backing of Lion as at 30 June 2015 is $0.31 per share (after tax).

Commodity Market Value A$M % Portfolio Australia Doray Minerals Gold 3.7 Rum Jungle Resources Phosphate 0.9 Auricup Resources Gold 0.9 17% Africa Roxgold Gold 4.8 Toro Gold Gold 1.2 Other Africa 1.4 Kasbah Resources Tin 0.7 Cash dedicated to Africa1 1.9 30% Asia One Asia Resources2 Gold 8.2 Asian Mineral Resources Nickel 1.6 Other Asia 0.7 32% Americas Iron Ore/Coal 0.2 1% Uncommitted Net Cash 6.7 20% Net Tangible Assets $32.9m 31¢/ share

1 Includes committed cash of US$1.3 million to AFL3.

2 One Asia at a value of A$0.18/share.

Note: The above table includes investments held directly by Lion and the value to Lion of investments which are held by African and Asian Lion Funds

Lion Selection Group Limited ABN 26 077 729 572 Level 4, 15 Queen Street, Melbourne Vic 3000 T: +61 3 9614 8008 F: +61 3 9614 8009 www.lsg.com.au

Further enquiries: Craig Smyth E: csmyth@lsg.com.au