MINERAL COMMODITIES LTD — Capital/Financing Update 2019

Oct 6, 2019

ASX RELEASE

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ASX: MRC 7 October 2019

ADDENDUM TO SKALAND GRAPHITE ACQUISITION ANNOUNCEMENT

Mineral Commodities Ltd (“MRC” or “the Company”) provides the following information in accordance with ASX Listing Rule 5.12, as an addendum to its ASX releases issued on 7 October 2019, relevant to the completion of the Skaland Graphite Acquisition.

The Company provided relevant information under ASX Listing Rule 5.12 in its initial ASX release of 4 April 2019. The Company is not in possession of any new information or data relating to the foreign estimates that materially impacts on the reliability of the estimates or the Company’s ability to verify the foreign estimates as mineral resources or reserves in accordance with the JORC Code.

The information provided in the Company’s initial market announcement of 4 April 2019 in regards to the required disclosures under ASX Listing Rule 5.12 continue to apply and have not materially changed.

The estimates disclosed in the ASX releases of 7 October 2019 are foreign estimates and are not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the foreign estimates as mineral resources or ore reserves in accordance with the JORC Code; and it is uncertain that following evaluation and/or further exploration work that the foreign estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code.

For further information, please contact:

INVESTORS & MEDIA Peter Fox Investor Relations and Corporate Development T: +61 8 6253 1100 investor@mncom.com.au

CORPORATE Peter Torre Company Secretary T: +61 8 6253 1100 peter@torrecorporate.com.au

T: +61 8 6253 1100 PO Box 235 WELSHPOOL DC WA 6986

ABN 39 008 478 653 info@mncom.com.au www.mncom.com.au

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7 October 2019

ASX: MRC ASX: MRC

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About Mineral Commodities Ltd:

Mineral Commodities Ltd (ASX: MRC) is a global exploration and mining company with a primary focus on the development of high-grade mineral deposits within the industrial minerals, battery minerals and precious metals sectors.

The Company is a leading producer of zircon, rutile, garnet and ilmenite concentrates through its Mineral Sands Operation, located on the Western Cape of South Africa. In October 2019, the Company completed the acquisition of 90% of Skaland Graphite AS, which operates the Trælen Graphite Mine and Skaland Processing Facility in Norway. Skaland is the world’s highest-grade operating flake graphite mine with mill feed grade averaging around 28%C. Skaland is the largest flake graphite producer in Europe and fourth largest producer globally outside of China.

The planned development of the Munglinup Graphite Project, located near Esperance in Western Australia, is consistent with the Company’s strategy to capitalise on the fastgrowing sustainable renewable energy storage and electric vehicle revolution as well as downstream vertically integrated value-adding.

Cautionary Statement

This report may contain forward-looking statements. Any forward-looking statements reflect management’s current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. It should be noted that several factors could cause actual results or expectations to differ materially from the results expressed or implied in the forward-looking statements.

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ABN 39 008 478 653 info@mncom.com.au www.mncom.com.au

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