QX RESOURCES LIMITED — Capital/Financing Update 2016

Apr 18, 2016

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ASX ANNOUNCEMENT

19 April 2016

APPOINTMENT OF BRANDON HILL CAPITAL AS BROKER AND ADVISOR

Black Mountain Resources Limited ( ASX:BMZ ) ( Black Mountain or the Company ) announces the appointment of London based merchant bank Brandon Hill Capital as the Company’s UK broker and advisor with respect to the acquisition of 100% of Namakera Mining Company Limited which operates the Namakera Vermiculite Mine and Busumbu Phosphate Project in Uganda.

Brandon Hill Capital is an independent Merchant Bank that provides its clients with integrated, independent advice on corporate finance, equity research, equity sales and corporate broking services to UK and overseas publicly-quoted companies and financial institutions. Brandon Hill Capital is authorised and regulated by the Financial Conduct Authority (FCA Registration Number 210414) and is a Member of the London Stock Exchange.

Brandon Hill Capital is focused on natural resources and emerging markets and have raised over £1.2 billion for clients in the recent 10 years and over £120m of financings for its natural resource clients since 2015. They are respected for their deep sector knowledge and have been amongst the most active resources broker in London during 2015 and 2016 based on deal size and number of transactions.

In conjunction with Brandon Hill Capital, the Company will be completing an investor roadshow in London from 25[th] – 29[th] April 2016.

The Company looks forward to working with the Brandon Hill Capital team in the finalisation of the acquisition of the Namakera Mine and Busumbu Phosphate Project, in ensuring the Company’s future capital requirements are met and in the implementation of its strategic initiatives in the agricultural and fertiliser sectors in Africa.

Brandon Hill Capital joins Sanlam Private Wealth Australia and Verdant Capital as advisors and brokers to 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 9489 4837

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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