PTR MINERALS LTD — Capital/Financing Update 2016

Jan 20, 2016

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21 January 2016

Dear Shareholder

NON-RENOUNCEABLE RIGHTS ISSUE SHOTFALL NOTIFICATION

Petratherm Ltd (ASX : PTR)( “the Company” ) advises that the Non-Renounceable Right Issue made pursuant to the Offer Booklet dated18 December 2015 closed on 18 January 2016, raising $468,515 in gross proceeds.

Valid applications under the Rights Issue and Shortfall Offer totaled $667,533 representing approximately 107% of all Shares offered. The Company has reviewed the Shortfall Offer applications in consultation with the Underwriter and has elected to scale back Shortfall Offer applications as outlined in 2.6 of the offer document.

The Entitlement Issue offered 207,877,560 New Shares on the basis of two (2) New Shares for every five (5) shares held by Shareholders on the Record date at an issue price of $0.003 per New Share.

The results of the Entitlement Issue (after accounting for the scale back noted above) is as follows;

Total number of shares applied forShortfall	156,171,68751,705,873207,877,560

Taylor Collison Limited ( Taylor Collison ) is a party to the underwriting agreement, under which Taylor Collison must place all of the Shortfall Shares within three months after the Closing Date, that is by 18 April 2016.

Yours sincerely,

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Donald Stephens Company Secretary

Petratherm Ltd ABN: 17 106 806 884

Level 1, 169 Fullarton Road Telephone 08 8274 5000 Dulwich, South Australia 5065 Email info@petratherm.com.au www.petratherm.com.au ASX: PTR