LOTUS RESOURCES LIMITED — Capital/Financing Update 2017

Mar 2, 2017

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ALL TABAC LICENCES GRANTED

HIGHLIGHTS

• All Tabac Cobalt-Gold Project exploration licences now granted

• The recently granted exploration licence contains the historical drill intercept of 80m at 0.77% Co & 40m at 0.73 g/t Au from 170m

• Heritage survey completed on the adjacent RHM FIJV tenements with drilling scheduled to commence later this month

• 54 hole PoW for drilling on E53/1895 submitted to DMP

Riva Resources Limited (ASX: RIR) (“Riva” or “the Company”) is pleased to announce the granting of the second exploration licence (E53/1895) at the Tabac Cobalt–Gold Project.

Both granted exploration licenses (E53/1891 and E53/1895) encompass a combined area of ~110km[2] over the prospective Yerrida Basin. The larger of the two licences (E53/1895) contains the historical drill intercept from hole PP011 that ended in mineralisation:

PP011: 80m at 0.77% Co & 40m at 0.73 g/t Au from 170m

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Riva has submitted a 54 hole Programme of Works (PoW) to the WA Department of Mines and Petroleum (DMP) to facilitate drilling permit approval. The planned program will include twinning of discovery hole PP011 among the testing of several other targets. Please refer to the ASX Announcement “Acquisition of Cobalt-Gold (“Tabac Project”) in Western Australia” released on 14[th] September 2016 for further details on exploration work previously completed across the Tabac Project.

Rosslyn Hill Mining (RHM) has also completed a heritage survey over the adjoining FIJV tenement area on Riva’s behalf to secure the Company’s maiden drill campaign scheduled to commence later this month. Following grant of the second exploration licence, the Company will now secure heritage surveys across the Tabac Project tenements.

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Figure 2: Tabac Project Tenement Plan

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For further enquiries, please contact:

Jonathan King Managing Director

+61 8 9322 6009 jonathan.king@rivaresources.com.au

Competent Persons Statement

The information in this announcement that relates to Tabac Cobalt-Gold Project is based on information compiled and fairly represented by Mr Jonathan King, who is a Member of the Australian Institute of Geoscientists and is an employee of Riva Resources Limited. Mr King has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he has undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr King consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

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