MINERAL COMMODITIES LTD — Capital/Financing Update 2012

May 15, 2012

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Mineral Commodities Ltd

ABN 39 008 478 653

40 Murray Road North Welshpool WA 6106, Australia PO Box 235, Welshpool DC WA 6986, Australia Telephone: 61 8 6253 1100 Facsimile: 61 8 9258 3601 Email: info@mncom.com.au Web: www.mncom.com.au

16 May 2012

Company Announcements Office Australian Securities Exchange

SHORT TERM BRIDGING FACILITY

Mineral Commodities Limited (MRC) advises that it has obtained a Short Term Bridging Facility (Facility) from Zurich Bay Holdings Pty Ltd (Zurich Bay). Zurich Bay is associated with MRC directors Mark and Joseph Caruso.

Pursuant to a Loan Agreement entered into between MRC and Zurich Bay, Zurich Bay will provide finance up to $1,200,000 on the following arms length and commercial terms:

• Loan is unsecured

• Interest of 15% per annum

• Repayment to take place at the earlier of the first capital raising undertaken by MRC after the Drawdown date or 4 months after the date the Loan is advanced or such time as agreed between the Parties in writing.

• Zurich Bay has the right to demand that the Loan is repaid through a mandatory capital raising by the MRC in the event repayment is not made on the repayment date.

The funds raised under the facility will assist in meeting short-term commitments prior to the Company undertaking a capital raising to raise funds to develop its Tormin Mineral Sands Project. The Company is seeking approval in its upcoming Annual General Meeting to raise up to $21 million in this regard.

The short-term commitments primarily consist of a $950,000 Break Fee associated with the terminated Cable Sands acquisition. Zurich Bay has settled the $950,000 break fee on MRC’s behalf.

Yours Faithfully

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Peter Torre Director / Company Secretary