LIVIUM LTD — Capital/Financing Update 2014

Feb 23, 2014

ASX Announcement

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24 February 2014

COMPANY DETAILS

ABN: 29 126 129 413

OPTION EXECUTED TO ACQUIRE COPPER / SILVER PROJECT IN CHILE

PRINCIPAL AND REGISTERED OFFICE Cobre Montana NL Suite 3 23 Belgravia Street Belmont WA 6104

Further to the announcement of 10 October 2013, Cobre Montana NL (ASX: CXB) has completed the legal requirements formalizing the option to acquire 55% of the prospective Piedrecillas copper/silver project located some 180 km southwest of Santiago in the Chilean Coastal Range, consists of 16 exploration concessions covering over 2000 hectares (Figure 1).

POSTAL ADDRESS PO Box 588 Belmont WA 6984

W www.cobremontana.com.au

E info@cobremontana.com.au P +61 8 6145 0288 F +61 8 9475 0847

ASX CODE CXB

CORPORATE INFORMATION (24 February 2014) 66M Ordinary Shares 12M Contributing Partly Paid Shares 12M Unlisted Options

BOARD OF DIRECTORS Eduardo Valenzuela (Non-Executive Chairman) Adrian Griffin (Managing Director) Bryan Dixon (Non-Executive Director)

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The Piedrecillas project has been described as having local geology similar to that of manto-style (tabular) deposits found elsewhere in the region. Manto-style mineralisation can host significant copper deposits, as evidenced by the El Soldado deposit (200 Mt @ 1.35% copper) operated by Anglo American. Manto deposits are often higher in grade than their larger porphyry counterparts, due to the preponderance of bornite mineralisation in the system.

The announcement of 10 October stated that the parties had reached agreement on the terms of an option to acquire a 65% interest in the project. Since that time, technical and legal due diligence has been completed and CXB considered it appropriate to reduce the equity under option from 65% to 55% to reduce the risk profile, and to comply with dual jurisdictional requirements of Australia and Chile. The option fee has been reduced from US$20,000 to US$16,000 and the exercise price of the option has been subsequently reduced from US$200,000 to US$ 169,231 or, as the election of CXB, 3,553,846 fully paid ordinary shares in the capital of CXB. The option expires on 28 March 2014.

The vendors comprise three Chilean nationals and one Chilean company. Eduardo Valenzuela, Chairman of CXB, has an interest in the Chilean company which presently holds an indirect interest of 20% of the Piedrecillas project. The option agreement is with individual shareholders of the project’s holding company and as such CXB is dealing with those shareholders as individuals.

The company in which Mr Valenzuela has an interest, will not receive any option fee, but will be a beneficiary of 20% of the exercise consideration, should CXB chose to exercise its rights to acquire the interest held by that company. Under the terms of the agreement, CXB is required to deal with each of the parties individually and is not required to exercise its rights over the entire 55%.

About Cobre Montana

Cobre Montana NL is an Australian based exploration company established to generate significant shareholder wealth by identifying, acquiring, exploring and/or developing substantial mineral projects that possess the potential for significant cashflow and/or exploration upside. Cobre’s principal exploration and development target is the Mantos Grandes copper/gold mine in Chile in which Cobre has the right to earn a 65% interest.

Investors wanting more information should contact:

Adrian Griffin Managing Director T: +61 8 6145 0288

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