NORONEX LIMITED — Capital/Financing Update 2017

Nov 13, 2017

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6 November 2017

ASX Limited Level 40, Central Park 152-158 St Georges Terrace PERTH WA 6000

PRE-QUOTATION DISCLOSURE

Lustrum Minerals Ltd (ACN 609 594 005) ( Company ) provides the following confirmations to satisfy conditions for quotation of the Company’s securities on the official list of ASX Limited.

Close of the Offer

The Company confirms completion of the public offer of 25,000,000 fully paid ordinary shares ( Shares ) under the prospectus dated 21 August 2017 as varied by the supplementary prospectus dated 31 August 2017 and the supplementary prospectus No. 2 dated 25 October 2017 ( Prospectus ).

The Company further confirms that it has received cleared funds for the complete amount of the issue price of every security issued to each successful applicant for securities under the Prospectus.

Completion of acquisition of Consuelo Coal Holdings Pty Ltd

In relation to the share sale agreement between the Company, Station Nominees Pty Ltd and The Twentieth Century Motor Company Pty Ltd dated on or about 20 January 2017 (and as subsequently amended by the first variation deed dated 2 August 2017, the second variation deed dated 7 August 2017 and the third variation deed dated 11 August 2017), ( Consuelo Agreement ), the Company confirms that:

• (a) the conditions precedent to completion have been satisfied; and

• (b) completion of the Consuelo Agreement has occurred, including the issue of:

• I. 10,000,000 Shares, 10,000,000 Class A Performance Shares and 10,000,000 Class C Performance Shares to Kontrarian Resource Fund No. 1 Pty Ltd (ACN 606 816 602);

• II. 3,000,000 Class A Performance Shares and 3,000,000 Class C Performance Shares to Twentieth Century Motor Company Pty Ltd (ACN 167 248 419) as trustee for the Twentieth Century Motor Company Superannuation Fund; and

• III. 2,000,000 Class A Performance Shares and 2,000,000 Class C Performance Shares to Station Nominees Pty Ltd (ACN 133 016 850) as trustee for the Station Superannuation Fund.

Suite 9 330 Churchill Avenue Subiaco WA 6008 Ι PO Box 866 Subiaco WA 6904

LUSTRUM MINERALS LTD

2

Completion of acquisition of subsidiaries

In relation to the share sale agreement between Consuelo Coal Holdings Pty Ltd and Kontrarian Resource Fund No. 1 Pty Ltd dated on or about 19 January 2017 (and as subsequently amended by the first variation deed dated 2 August 2017, the second variation deed dated 2 August 2017 and the third variation deed dated 11 August 2017) ( Consuelo Subsidiary Agreement ), the Company confirms that:

• (a) the conditions precedent to completion have been satisfied; and

• (b) completion of the Consuelo Subsidiary Agreement has occurred.

Access to tenements

There are no legal, regulatory, statutory or contractual impediments to the Company entering the relevant tenements and carrying out exploration activities such that the Company will be able to spend its cash in accordance with its commitments for the purposes of Listing Rule 1.3.2(b).

Restricted securities

Following quotation of the Company’s securities, the following securities will be subject to restriction pursuant to the ASX Listing Rules for the period outlined below.

Securities restricted for 24 months from date of quotation:

Class	Number	Restriction Period
Shares	10,367,500	24 months from date of quotation
Class A Performance Shares	15,000,000	24 months from date of quotation
Class C Performance Shares	15,000,000	24 months from date of quotation

Securities restricted for 12 months from the date of issue:

Class	Number	Restriction Period
Shares	2,132,500	12 months from 31 January 2017

Yours faithfully

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Josh Puckridge Executive Director Lustrum Minerals Limited

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