QX RESOURCES LIMITED — Capital/Financing Update 2015

Sep 7, 2015

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7 September 2015

Manager of Company Announcements Australian Securities Exchange Level 6, 20 Bridge Street Sydney NSW 2000

By E-Lodgment

Entitlement Issue Shortfall Notification

Black Mountain Resources Limited (“ Black Mountain ” or “ the Company ”) (ASX:BMZ) refers to its Renounceable Entitlement Issue announced to market on 13 August 2015 (“ Entitlement Issue ”).

The Company advises that valid acceptances have been received from shareholders to subscribe for New Shares to the value of $2,729,467 (272,946,655 New Shares) representing a take-up of approximately 40%.

The allotment and issue of new shares for which valid acceptances have been received will occur on 10 September 2015.

The resultant shortfall of shares to the value of $4,148,992 (414,899,170 New Shares) will be placed by the Underwriter to the entitlement issue within 3 months of the closing date, in accordance with the provisions of the Offer Document dated 24 August 2015.

For and on behalf of the Board

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Peter Landau

Executive Director

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

Ground Floor, 1 Havelock Street West Perth WA 6005 Tel: +61 (8) 9488 5220

info@blackmountainresources.com.au