LOTUS RESOURCES LIMITED — Capital/Financing Update 2017

Feb 23, 2017

24 February 2017

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DRILLING TO COMMENCE FOLLOWING HEAVILY OVERSUBSCRIBED CAPITAL RAISING

Riva Resources Limited (“Riva” or the “Company”, ASX: RIR) is pleased to announce that it has received firm commitments from sophisticated and institutional investors to raise A$2.2 million. The book build was heavily oversubscribed with strong support from new and existing shareholders.

Morgans Corporate Limited acted as Lead Manager to the Placement.

The Company will issue 91,700,000 fully paid ordinary shares at an issue price of $0.024 per share under the provision of ASX Listing Rules 7.1. No shareholder approval is required and settlement of the Share Placement is expected on or around 2 March 2017.

Funds raised will be applied towards the upcoming drilling campaign on the Rosslyn Hill Mining Joint Venture tenements in addition to the Company’s flagship Tabac Cobalt-Gold Project in Western Australia where historic drilling results were recorded including 80m at 0.77% Co (including 40m at 0.73g/t Au) and 30m at 0.3% Co (including 10m at 0.86g/t Au).

Managing Director Jonathan King commented “We are delighted with the overwhelming response from investors and look forward to commencing our maiden drill campaign in March. Recent review of the geochemistry data highlights the prospectively of the basin and the additional funds allows us to accelerate and expand our exploration program over the coming months.”

For Further enquiries, please contact:

Jonathan King Managing Director +61 8 9322 6009 jonathan.king@rivaresources.com.au

ACN 119 992 175 Suite 8, 1297 Hay Street, West Perth, Western Australia, 6005 T: +61 9322 6009, F: +61 9322 6128