MARVEL GOLD LIMITED — Capital/Financing Update 2016

Jun 16, 2016

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17 June 2016

OFFTAKE AND FINANCE DUE DILIGENCE UPDATE – SITE VISIT CONFIRMED

Graphex Mining Limited ( ASX: GPX ) (‘ Graphex ’ or the ‘ Company ’) is pleased to advise that China Gold Group Investment Co. Ltd (‘ China Gold ’) and CN Docking Joint Investment and Development Co. Ltd (‘ CN Docking ’), a subsidiary of China National Building Material Group Corporation (‘ CNBM ’), will undertake a site visit to the Chilalo Graphite Project next week between 21 and 26 June 2016.

The delegation will include two representatives from each of China Gold and CNBM and four representatives from Suzhou Design & Research Institute for the Non-Metallic Minerals Industry, an independent testing authority engaged by China Gold and CNBM to conduct confirmatory due diligence on the Chilalo Graphite Project. Suzhou’s role will be to verify due diligence completed to date by China Gold and CN Docking.

The site visit will include a review of the proposed project site, travel of the route from the project site to the Mtwara Port, inspection of the Mtwara Port facility and other infrastructure, and meetings with Tanzanian Government officials.

The site visit is an important aspect of the exclusive due diligence being conducted under the Memorandum of Understanding announced on 1 February 2016, for China Gold and CN Docking to jointly develop the Chilalo Graphite Project with Graphex.

The site visit is expected to lead into a period of commercial negotiations with China Gold and CN Docking regarding offtake, project finance, procurement and construction.

The Company will provide a further update following the site visit.

For further information, please contact: Stuart McKenzie – Commercial Manager and Phil Hoskins – Managing Director Company Secretary Tel: +61 8 9200 4960 Tel: +61 8 9200 4960

Media Michael Weir & Richard Glass – Citadel-MAGNUS Tel: +61 8 6160 4900