PATERSON RESOURCES LTD — Capital/Financing Update 2015

Jul 27, 2015

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27 July 2015

ASX Market Announcements ASX Limited

Dear Sir/Madam,

Results of Rights Issue

Elysium Resources Limited announces the closing of its Non-Renounceable Rights Issue on 23 July 2015 with a total amount of $560,248.61 being taken up by Shareholders.

The Offer was subscribed as follows:

• $464,364.00 was subscribed by Shareholders, or parties who had acquired rights to participate in the Offer, taking up their entitlements

• $95,914.61 was subscribed by Shareholders, or parties who had acquired rights to participate in the Offer, applying for additional shares under the Shortfall Facility. Of this amount, $74,400.00 (representing 24,800,000 shares) was applied for by a related Company of one of the Directors and consequently these shares will not be able to be issued until approved by the Shareholders.

making a total of $560,248.61. Of this amount $283,354.35 was received in cash and $276,894.26 by way of settlement of outstanding debt.

This sum includes all funds agreed to be subscribed by entities associated with the Directors which entered into Take Up Deeds as described in the Prospectus.

This will result in 161,949,520 ordinary shares being issued and 80,974,760 Options at an exercise price of 0.03 cents per share with an expiry date of 30 September 2016.

Under subscriptions amounted to $695,136.19.

All Shares and Options relating to the Offer will be allotted and issued in accordance with the Timetable.

Yours sincerely

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Mark Ohlsson Company Secretary

Elysium Resources Limited

ABN 45 115 593 005 Suite 706, 3 Spring Street, Sydney NSW 2000 PO Box H238, Australia Square NSW 1215 Phone: +61 2 9247 7744 Fax: +61 2 9247 7244 Email: info@elysiumresources.com.au Web: www.elysiumresources.com.au

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