LION SELECTION GROUP LIMITED. — Net Asset Value 2016

Sep 14, 2016

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ASX RELEASE : LSX

Updated Net Tangible Asset Backing

Lion notes that the 31 August 2016 NTA released on 12 September 2016 contained an arithmetic error showing the NTA per share as $0.39. The correct figure should have been $0.36 per share (after tax).

Net Tangible Asset Backing as at 14 September 2016

Since the 31 August NTA, Lion’s portfolio has increased following the successful Egan Street Resources IPO and as at 14 September 2016 was $0.39 per share (after tax).

	Commodity Market ValueA$M% PortfolioAustraliaEgan Street ResourcesGold3.8Other Australia0.410%AfricaRoxgoldGold9.7Toro GoldGold1.0Other Africa1.7Cash dedicated to Africa11.333%AsiaOne Asia Resources2Gold9.1Erdene ResourcesGold2.6Other Asia0.830%AmericasIron Ore/Coal0.31%Uncommitted Net Cash11.126%Net Tangible Assets$41.8m39¢/ share

1 Includes committed cash of US$0.8 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 2, 175 Flinders Lane, 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