QX RESOURCES LIMITED — Board/Management Information 2016

May 18, 2016

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ASX ANNOUNCEMENT

19 May 2016

JULIAN FORD APPOINTED AS INDEPENDENT NON-EXECUTIVE CHAIRMAN

Black Mountain Resources Limited ( ASX:BMZ ) ( Black Mountain or the Company ) announces the appointment of Mr. Julian Ford as the Company’s Independent Non-Executive Chairman.

Mr. Ford joined the Board on 13 April 2016 and has over 25 years’ experience in the mining sector across various commodities and geographical jurisdictions. Mr Ford has led a number of junior mining companies listed on the ASX and AIM markets and has been successful in these roles raising funding to advance the projects towards development and production.

Mr. Ford will lead the Company in the finalisation of the acquisition of the Namakera Mine and Busumbu Phosphate Project and in his role as Independent Non-Executive Chairman will amongst other things be responsible for ensuring that potential conflicts of interest and related party matters associated with the acquisition are appropriately addressed to industry good governance best practices and in accordance with all regulatory requirements to reduce corporate risk and protect members.

In further changes to the Board, it is now proposed that upon completion of the acquisition, Mr Simon GrantRennick will, subject to shareholder approval, be appointed as an Executive Director of the Company and be responsible for the sales and marketing of the Namakera Mine’s vermiculite production globally. Mr GrantRennick is a mining engineer with over 38 years’ experience in exploration, mining and mining geology specialising in industrial minerals. Mr Grant-Rennick is the principal of IMFH a UK based industrial minerals consultancy group that provides specialist industrial minerals sales and marketing advice. In addition, Mr Grant-Rennick has owned and managed vermiculite mining and marketing operations in the United States. In addition, and further to the Company’s ASX announcement dated 21 April 2016, Mr. Valentine Chitalu will no longer be able to join the Board as a Non-Executive Director of the Company.

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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 9380 8343

Fax: +61 8 9380 8300

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For further information, please contact:

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Jason Brewer Director Black Mountain Resources Ltd

Forward looking statements

Forward looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” and similar expressions are intended to identify forward looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

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