QX RESOURCES LIMITED — Board/Management Information 2016

Nov 9, 2016

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ASX ANNOUNCEMENT

10 November 2016

APPOINTMENT OF NEW DIRECTORS

Black Mountain Resources Limited ( ASX:BMZ ) ( Black Mountain or the Company ) announces the appointment of Mr. Simon Grant-Rennick and Mr. Luca Bechis as Directors of the Company, effective today.

Mr. Grant Rennick and Mr. Bechis both join the Board of the Company following confirmation by the Australian Securities Exchange that the Company will be re-instated to trading on 11 November 2016.

Mr. Grant-Rennick has been appointed to the role of Executive Director, Marketing and Sales of the Company and will be responsible for managing and growing the Company’s sales of vermiculite product to customers in Europe, North America, Asia, the Middle East and Australia.

Mr Grant-Rennick is a mining engineer with over 38 years’ experience in exploration, mining and mining geology specialising in industrial minerals. Mr Grant-Rennick is the co-founder and principal of IMFH a UK based industrial minerals consultancy group providing specialist operations, investment and financial analysis and advice. In addition, Mr Grant-Rennick has previously owned and managed vermiculite mining and marketing operations in Montana and California in the United States.

As Executive Director, Marketing and Sales Mr Grant-Rennick will receive remuneration of $200,000 per annum for his services with an agreed incentive package to be determined by the Company’s Remuneration Committee. Mr Grant Rennick has an indirect interest in the Company of 3,500,000 ordinary shares.

Mr Luca Bechis has been appointed as a Non-Executive Director of the Company and as a nominee of the Company’s major shareholder Richmond Partners Master Limited (“ RPM ”).

Mr Bechis has extensive experience in international finance and international capital markets with 25 years’ experience. He holds a Master's in Business Administration with Honours and a Business Administration Degree with Honours from Universita' Bocconi. Mr. Bechis is the Founding Partner and Advisor at LB International Limited which manages RPM. Mr. Bechis previously served as its Director and had founded the firm in 2004. RPM is an investment company focused on investments in the natural resources sector, predominantly in Africa. RPM has held a number of significant interests in developing mining companies listed on the AIM, ASX and TSX markets as well as unlisted developing mining companies.

Mr Bechis has an indirect interest in the Company of 28,543,727 ordinary shares.

Black Mountain Resources Limited ABN 55 147 106 974 www.blackmountainresources.com.au info@blackmountainresources.com.au

Suite 5, 531 Hay Street Subiaco WA 6008 Tel: +61 8 9489 4837

Fax: +61 8 9380 8300

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Mr Julian Ford

Chairman

Black Mountain Resources Ltd

Forward looking statements

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

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