ORA BANDA MINING LTD — Capital/Financing Update 2016

Apr 12, 2016

ASX ANNOUNCEMENT

13 APRIL 2016

==> picture [93 x 94] intentionally omitted <==

ADDITIONAL $2.5 MILLION PLACEMENT CLOSES

Further to the announcement on 23 March 2016, Eastern Goldfields Limited ( Company ) (ASX:EGS) is pleased to announce that the Company has raised an additional $2.5 million (before costs) through the issue of 16,666,667 shares at $0.15 per Share ( Additional Placement ).

The Additional Placement to professional and sophisticated investors pursuant to section 208 of the Corporations Act was managed by Hartleys Limited and utilised the Company’s current placement capacity under Listing Rule 7.1.

Funds raised pursuant to the Additional Placement will be applied towards reserve definition drilling, plant refurbishment and general working capital.

An Appendix 3B follows.

END

Michael Fotios Executive Chairman T: +61 8 6241 1888 E: michael@deltaman.com.au

Michael Jardine General Manager Corporate & Investor Relations T: +61 424 615047 E: michael.jardine@deltaman.com.au

- 1 -