MARVEL GOLD LIMITED — Capital/Financing Update 2017

Jun 7, 2017

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8 June 2017

UPDATE ON PROPOSED CHILALO JOINT VENTURE

Graphex Mining Limited ( ASX: GPX ) is pleased to announce that CN Docking Joint Investment & Development Co. Ltd (‘ CN Docking ’) has confirmed that HK$100 million has been deposited into a bank account controlled by a syndicate of Chinese investors led by CN Docking.

Graphex has received confirmation that these funds represent the initial tranche of funding that is specifically designated for investment into the proposed joint venture.

Graphex Managing Director, Phil Hoskins, commented: “ The deposit of the initial tranche of joint venture funding by CN Docking reinforces their commitment to the joint venture partnership with Graphex and further supports the quality of our Chilalo Graphite Project.”

In addition, preparation of formal legal agreements has commenced, with the parties targeting execution within three months. Whilst there is no certainty that a binding arrangement will eventuate, both parties are confident that this will be achieved.

PHIL HOSKINS

Managing Director

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

About Graphex

Graphex Mining Limited is an Australian exploration and development company, dedicated to advancing the world class Chilalo Graphite Project, located in south-east Tanzania. Chilalo is host to a high-grade mineral resource and has demonstrated an ability to produce a premium graphite concentrate with a substantial portion of large and jumbo flake material. Chilalo graphite possesses outstanding expandability characteristics, making it ideally suited to the rapidly growing expandable graphite market.

Graphex has an experienced board and management team with specific skills and extensive experience in African based project development, exploration, mining and processing. Tanzania is a stable democracy, with a globally competitive tax and regulatory regime. The Company has a long and well-established presence in Tanzania.

For more information, visit www.graphexmining.com.au.