PATERSON RESOURCES LTD — Capital/Financing Update 2016

May 18, 2016

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ASX ANNOUNCEMENT 19th May 2016 FOR IMMEDIATE RELEASE

SHARE PLACEMENT

Elysium Resources Limited (“Elysium” or “Company”) (ASX:EYM) is pleased to announce that it has agreed to issue 374,878,049 shares to raise $506,000. The Placement was made to four sophisticated investors (including two fund mangers), who have many years of investment experience in the small cap mining area.

The shares will be issued under the Company’s capacity under Listing Rules 7.1 and 7.1A and the Company will have an issued capital of 2,107,408,526 shares following this Placement. The funds will be applied to furthering the Company’s development of the Burraga Copper Project to enable the Company to apply for a Mining Licence.

Yours faithfully,

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M T Ohlsson, Company Secretary

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Elysium Resources Limited ABN 45 115 593 005 Suite 1412, 3 Spring Street, Sydney NSW 2000 PO Box H238, Australia Square NSW 1215 Phone: +61 2 8249 4504 Email: info@elysiumresources.com.au Web: www.elysiumresources.com.au