MARITANA MINERALS LIMITED — Capital/Financing Update 2017

May 31, 2017

ASX ANNOUNCEMENT

1 June 2017

JOINT VENTURE WITH INTERMIN FOR GOONGARRIE AND MENZIES PROJECTS

Further to the announcement on 5 September 2016, Eastern Goldfields Limited (ASX: EGS) ( Eastern Goldfields or the Company ) is pleased to announce that it has signed an Exploration Farm-in Joint Venture Agreement for certain tenements at the Menzies and Goongarrie projects ( Tenements ) with Intermin Resources Limited (ASX:IRC) ( Intermin ) and its wholly owned subsidiary Black Mountain Gold Ltd ( BMG ) ( Agreement ).

The Tenements contain nearly 200,000 oz Au in reported resources*, with historic production in excess of 830,000 oz, primarily from underground sources. The Project areas lie approximately 50km northeast and east of the Davyhurst mill.

The Tenements comprise the following:

Menzies Gold Project

M29/410, M29/14, M29/88, M29/153-154, M29/184, P29/2153-2156, P29/2251-2254, P29/2344-2345, L29/42-44, ELA29/966 and ELA29/984.

Goongarrie Gold Project

E29/419, E29/922, L29/109, P29/2073, P29/2269, P29/2286-2290, P29/2307-2308, M29/420, P29/2070 and P29/2268.

The Company has also paid the second tranche of $750,000 to Intermin in accordance with the Agreement and been issued with 6,250,000 fully paid ordinary shares in Intermin at an issue price of $0.12 per share and 3,125,000 options with an exercise price of 17 cents per option and an expiry date of 31 August 2018.

Executive Chairman Michael Fotios said:

ISSUED CAPITAL

Shares: 542.6m Options: 61.6m Current Share Price: $0.35 Market Capitalisation: $189.9m Cash as at 31/03/2017: $551,000

“The signing of the Agreement completes the formalities of this matter. The deal has not changed from when we announced the signing of the Heads of Agreement on 5 September 2016. We are now excited by proceeding to undertake an earn in to a potential 65% interest in the Joint Venture, which may include a feasibility study into the establishment of a second mine potentially to be located in the Mt. Ida/Menzies region.

“We look forward to keeping the market informed as we progress.”

*This information was compiled from information released to the ASX by IRC on 8 March and 16 August 2016.

Investor Enquiries

Michael Fotios Jon Snowball Executive Chairman FTI Consulting T: +61 8 6241 1888 T: +61 477 946 068 E : admin@easterngoldfields.com.au E: jon.snowball@fticonsulting.com

Competent Person Statement

The information in this announcement that relates to Mineral Resources is based on, and fairly represents, information and supporting documentation compiled by or under the supervision of Mr Craig Hall, a Competent Person who is a member of the Australasian Institute of Geoscientists, a ‘Recognised Professional Organisation’ (‘RPO’) included in a list that is posted on the ASX website from time to time. Mr Hall has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Editions of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Eastern Goldfields Limited confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, all material assumptions and technical parameters underpinning the estimates in the initial announcement continue to apply and have not materially changed. Eastern Goldfields Limited confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Forward Looking Statements

Eastern Goldfields Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Eastern Goldfields Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it. This announcement is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever. This announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.