MOUNT RIDLEY MINES LIMITED — Capital/Financing Update 2014

Jul 24, 2014

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MARKET RELEASE

25 July 2014

AXG Mining Limited

TRADING HALT

The securities of AXG Mining Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Tuesday, 29 July 2014 or when the announcement is released to the market.

Security Code: AXC

Jill Hewitt Senior Adviser, Listings Compliance (Perth)

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25 July 2014

The Manager – Companies

Australian Securities Exchange Ltd

Level 40, Central Park,

152-158 St Georges Terrace

Perth WA 6000

By Email

Trading Halt Request – AXG Mining Ltd (ASX code: AXC)

I confirm that AXG Mining Ltd (“the Company’) wishes to request a Trading Halt in its securities immediately.

The Company provides the following information in accordance with Listing Rule 17.1:

• The request for the Trading Halt is pending the release of an announcement regarding a material capital raising;

• The Trading halt is to last until the earlier of the Company releasing an announcement, or the commencement of trade on Tuesday, 29 July 2014;

• It is expected that a Trading Halt will be ended by the Company making an announcement of a kind referred to above; and

• The Company is not aware of any reason why the Trading halt should not be granted.

Please contact me if you require any further information concerning this matter.

Yours Sincerely

Roland Berzins

Company Secretary

ABN: 93 092 304 964 Tel: +61 8 9429 2900 Fax: +61 8 9486 1011

Level 1, 143 Hay Street Subiaco Western Australia 6008

PO Box 1922 West Perth Western Australia 6872