PATERSON RESOURCES LTD — Share Issue/Capital Change 2016

Jul 19, 2016

Notification of Consolidation/Split

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Notification of Consolidation/Split

Announcement Summary

Entity name

ELYSIUM RESOURCES LIMITED

Applicable security for the reorganisation

EYM ORDINARY FULLY PAID EYMOB OPTION EXPIRING 30-SEP-2016 EYMAK OPTION EXPIRING 30-JUN-2017 EX 2C EYMAC OPTION EXPIRING 30-APR-2018 EX 1.4C

Announcement Type

New Announcement

Date of this announcement

Wednesday July 20, 2016

Reorganisation type

Security consolidation

Effective Date

Tuesday August 23, 2016

Record Date

Wednesday August 24, 2016

Issue Date

Wednesday August 31, 2016

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

*1.1 Name of +Entity

ELYSIUM RESOURCES LIMITED

Registration Number

*1.2 Registered Number Type

ABN

45115593005

*1.3 ASX issuer code

EYM

*1.4 The announcement is

New announcement

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*1.5 Date of this announcement

Wednesday July 20, 2016

*1.6 Securities affected by the reorganisation

EYM ORDINARY FULLY PAID EYMOB OPTION EXPIRING 30-SEP-2016 EYMAK OPTION EXPIRING 30-JUN-2017 EX 2C EYMAC OPTION EXPIRING 30-APR-2018 EX 1.4C

Part 2 - Approvals

*2.1 Are any of the below approvals required for the reorganisation before business day 0 of the timetable?

• Security holder approval Court approval

• Lodgement of court order with +ASIC ACCC approval

• FIRB approval

• Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the reorganisation.

Yes

2.2 Approvals

**Approval/Condition Date for determination Is the date estimated Approval +Security holder Friday August 19, or actual? received/condition approval 2016 Actual met? [Select...] Comments

Part 3 - Reorganisation timetable and details

*3.1 +Record date

Wednesday August 24, 2016

3.2 Date of +security holder meeting

Friday August 19, 2016

3.3 Last day for trading in the pre-re-organised +securities

Monday August 22, 2016

*3.4 Effective date. Trading in the re-organised securities commences on a +deferred settlement basis. If the +entity's securities are suspended from trading during this period there will be no +deferred settlement trading however ASX still captures this date.

Tuesday August 23, 2016

3.5 Record date

Wednesday August 24, 2016

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3.6 First day for +entity to send notices to +security holders of the change in the number of +securities they hold. First day for +entity to register +securities on a post-reorganised basis

Thursday August 25, 2016

*3.7 +Issue date. +Deferred settlement market ends. Last day for +entity to send notices to +security holder of the change in the number of +securities they hold. Last day for +entity to register +securities on a post-reorganised basis Wednesday August 31, 2016

3.8 Trading starts on a normal T+2 basis

Thursday September 1, 2016

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis

Monday September 5, 2016

Part 4 - Reorganisation type and details

*4.1 The reorganisation is

+Security consolidation

*4.1a Consolidation ratio: the +securities will be consolidated on the basis that every

25

(pre-consolidation) +securities will be consolidated into

1

(post-consolidation) +security (/ies).

*4.2 Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after reorganisation

*5.1 +Securities on issue before and after the reorganisation

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----- Start of picture text ----- *ASX +Security Code *ASX +SecurityEYM DescriptionORDINARY FULLYPAIDQuoted/unquoted Number on issue Number on issue after Estimate/ActualQuoted before reorganisation reorganisation Estimated2,160,079,658 86,403,186*ASX +Security Code *ASX +SecurityEYMOB DescriptionOPTION EXPIRING30-SEP-2016Quoted/unquoted Number on issue Number on issue after Estimate/ActualQuoted before reorganisation reorganisation Estimated117,872,674 4,714,907----- End of picture text -----

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----- Start of picture text ----- *ASX +Security Code *ASX +SecurityEYMAK DescriptionOPTION EXPIRING30-JUN-2017 EX 2CQuoted/unquoted Number on issue Number on issue after Estimate/ActualUnquoted before reorganisation reorganisation Estimated17,000,000 680,000*ASX +Security Code *ASX +SecurityEYMAC DescriptionOPTION EXPIRING30-APR-2018 EX1.4CQuoted/unquoted Number on issue Number on issue after Estimate/ActualUnquoted before reorganisation reorganisation Estimated94,000,000 3,760,0005.2 *Exercise price of options*ASX +Security Code *ASX +Security DescriptionEYMOB OPTION EXPIRING30-SEP-2016Quoted/unquoted Exercise price before Exercise price afterQuoted reorganisation reorganisation0.00300000 0.07500000*ASX +Security Code *ASX +Security DescriptionEYMAK OPTION EXPIRING30-JUN-2017 EX 2CQuoted/unquoted Exercise price before Exercise price afterUnquoted reorganisation reorganisation0.02000000 0.50000000*ASX +Security Code *ASX +Security DescriptionEYMAC OPTION EXPIRING30-APR-2018 EX 1.4CQuoted/unquoted Exercise price before Exercise price afterUnquoted reorganisation reorganisation0.01400000 0.35000000----- End of picture text -----

Part 6 - Further information

6.1 Further information relating to the reorganisation

6.2 Additional information for inclusion in the Announcement Summary

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