MINBOS RESOURCES LIMITED — Capital/Financing Update 2018

May 13, 2018

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14 May 2018

Company Announcements Platform Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000

By Electronic Lodgement

Dear Sir/Madam

LETTERS TO SHAREHOLDERS

The attached letters to Minbos Resources Limited eligible and ineligible shareholders were dispatched today in relation to the pro rata a non-renounceable 1:1 entitlement issue to raise approximately A$2,827,280 at $0.001 per share (before costs and expenses of the offer).

Yours sincerely,

Lindsay Reed Chief Executive Officer

ASX Code: MNB Office: Suite 1, 245 Churchill Avenue, Subiaco WA 6008 T: +61 8 6270 4610 E: info@minbos.com W: www.minbos.com ABN: 93 141 175 493

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14 May 2018

Dear Shareholder

MINBOS RESOURCES LIMITED – PRO-RATA NON-RENOUNCEABLE RIGHTS ISSUE

On 10 May 2018, Minbos Resources Limited (ACN 141 175 493) (the Company ) announced it was undertaking a 1:1 pro rata non-renounceable rights issue ( Rights Issue or Offer ) of approximately 2,827,280,660 fully paid ordinary shares ( New Shares ) to raise approximately $2,827,280. The price of New Shares under the Offer is $0.001 each ( Issue Price ). The Company lodged an offer document for the Offer ( Offer Document ) with ASX on 11 May 2018.

In addition to the Offer, the Company also conducted a placement of 358,775,000 Shares at an issue price of $0.002 to raise $717,550 ( Placement ). The Placement is lead managed by Aesir Capital Pty Ltd (a corporate authorised representative of AFSL 334191) who will be paid a 6% fee (plus GST) on total funds raised under the Placement.

The Company intends to apply the funds raised from the Offer towards:

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Items of Expenditure (‘$’) %
Exploration and Permitting 1,312,000 46%
Metallurgical Test work and Scoping Study 740,000 26%
Working capital [1] 712,280 25%
Expenses of the Offer 63,000 2%
Total 2,827,280 100%
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Note:

1. Funds allocated to working capital will be used for administration expenses of the Company in Australia, Mauritius and Madagascar over the next 12 months, including administration, accommodation and travel fees, and Director’s remuneration.

2. Assuming the Placement is completed, the Company will also raise an additional $717,550 which will be used towards exploration on the Company’s current projects and for working capital purposes.

The Offer is being made to all shareholders of the Company ( Shareholders ) named on its register of members at 5:00pm (WST) on 16 May 2018, whose registered address is in Australia and New Zealand.

New Shares will rank equally with all fully paid ordinary shares in the capital of the Company ( Shares ) already on issue.

Following completion of the Offer, the Company will have issued approximately 2,827,280,660

New Shares resulting in total Shares on issue of approximately 5,654,561,320.

A copy of the Offer Document is available on ASX’s and the Company’s website. Eligible Shareholders will be mailed an Offer Document together with an Entitlement and Acceptance Form no later than 21 May 2018. Your entitlement will be set out on the personalised Entitlement and Acceptance Form accompanying the Offer Document.

Actions required of Eligible Shareholders

There are a number of actions Eligible Shareholders may take:

• You may wish to accept all of your rights to subscribe for New Shares pursuant to the Offer Document ( Entitlement ). To take up all or some of your Entitlements you will need to ensure your application money for the Entitlements you wish to take up is received by Automic Registry Services ( Share Registry ) by no later than 5:00pm (WST) on 30 May 2018 by completing and returning your Entitlement and Acceptance Form together with your cheque, drawn on an Australian bank or bank draft made payable in Australian currency, for the amount indicated on the Entitlement and Acceptance Form; or, making a payment by BPAY in accordance with the instructions on your Entitlement and Acceptance Form.

• You may wish to accept part of your Entitlement. To take up part of your Entitlement you will need to ensure your application money for the Entitlements you wish to take up is received by the Share Registry by no later than 5:00pm (WST) on 30 May 2018, by completing and returning your Entitlement and Acceptance Form by filling in the number of New Shares you wish to accept in the space provided on the Entitlement and Acceptance Form together with your cheque, drawn on an Australian bank or bank draft made payable in Australian currency, for the appropriate application monies; or, making a payment by BPAY in accordance with the instructions on your Entitlement and Acceptance Form (at $0.001 per New Share).

• You may do nothing. If you choose to do nothing with your Entitlements, while you will continue to hold the same number of Shares, your interest in the Company will be diluted and you will receive no value for your Entitlement.

Key dates for the Offer

Company Announces Rights Issue	Friday, 11 May 2018
Lodgement of Offer Document, Appendix 3B and s708AA	Friday, 11 May 2018
Cleansing Notice with ASX (Prior to the commencement of
trading)
Notice sent to security holders	Monday, 14 May 2018
Ex date	Tuesday, 15 May 2018
Record Date for determining Entitlements	Wednesday, 16 May 2018
Offer Document sent out to Eligible Shareholders &	Monday, 21 May 2018
Company announces this has been completed & Offer
Opening Date
Last date to extend Offer Closing Date	Friday, 25 May 2018
Closing Date (5pm)	Wednesday, 30 May 2018
Shares quoted on a deferred settlement basis	Thursday, 31 May 2018
ASX notified of under subscriptions	Monday, 4 June 2018
Issue date/Shares entered into Shareholders’ security	Wednesday, 6 June 2018
holdings
Quotation of Shares issued under the Offer	Thursday, 7 June 2018

If you have any queries concerning the Rights Issue, or the action you are required to take to subscribe for New Shares, please contact your financial adviser or Nick Day, the Company Secretary, on +61 8 6270 4610 .

Yours sincerely

Nick Day Company Secretary Minbos Resources Limited

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14 May 2018

Dear Shareholder

MINBOS RESOURCES LIMITED – PRO-RATA NON-RENOUNCEABLE RIGHTS ISSUE

On 10 May 2018, Minbos Resources Limited (ACN 141 175 493) (the Company ) announced it was undertaking a 1:1 pro rata non-renounceable rights issue ( Rights Issue or Offer ) of approximately 2,827,280,660 fully paid ordinary shares ( New Shares ) to raise approximately $2,827,280. The price of New Shares under the Offer is $0.001 each ( Issue Price ). The Company lodged an offer document for the Offer ( Offer Document ) with ASX on 11 May 2018.

In addition to the Offer, the Company also conducted a placement of 358,775,000 Shares at an issue price of $0.002 to raise $717,550 ( Placement ). The Placement is lead managed by Aesir Capital Pty Ltd (a corporate authorised representative of AFSL 334191) who will be paid a 6% fee (plus GST) on total funds raised under the Placement.

The Company intends to apply the funds raised from the Offer towards:

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----- Start of picture text -----

Items of Expenditure (‘$’) %
Exploration and Permitting 1,312,000 46%
Metallurgical Test work and Scoping Study 740,000 26%
Working capital [1] 712,280 25%
Expenses of the Offer 63,000 2%
Total 2,827,280 100%
----- End of picture text -----

Note:

1. Funds allocated to working capital will be used for administration expenses of the Company in Australia, Mauritius and Madagascar over the next 12 months, including administration, accommodation and travel fees, and Director’s remuneration.

2. Assuming the Placement is completed, the Company will also raise an additional $717,550 which will be used towards exploration on the Company’s current projects and for working capital purposes.

The Offer is being made to all shareholders of the Company ( Shareholders ) named on its register of members at 5:00pm (WST) on 16 May 2018, whose registered address is in Australia and New Zealand.

New Shares will rank equally with all fully paid ordinary shares in the capital of the Company ( Shares ) already on issue.

Following completion of the Offer and the Placement, the Company will have issued approximately 2,827,280,660 New Shares resulting in total Shares on issue of approximately 5,654,561,320.

Ineligible shareholders

A Shareholder who has a registered address outside Australia and New Zealand ( Ineligible Shareholder ) will not be eligible to participate in the Offer.

You are not eligible to participate in the Offer and you will not be sent a copy of the Offer Document. This decision has been made pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules after taking into consideration the costs of complying with legal and regulatory requirements in jurisdictions outside of Australia and New Zealand compared with the small number of Ineligible Shareholders and the number and value of New Shares to which they would otherwise be entitled.

If you have any queries concerning the Rights Issue, please contact your financial adviser or Nick Day, the Company Secretary, on +61 8 6270 4610 .

Yours sincerely

Nick Day Company Secretary Minbos Resources Limited