RAGUSA MINERALS LTD — Capital/Financing Update 2017

Apr 17, 2017

SIV Asset Management Limited ACN 143 194 165

Level 6, 2 Russell Street Melbourne VIC 3000 Australia

PO BOX 18366 COLLINS STREET EAST VIC 8003 AUSTRALIA

ASX Code: SAM

18 April 2017

ASX MARKET ANNOUNCEMENT

TRANSFER OF LOANS AND REDEMPTION OF NOTES

The Board of SIV Asset Management Limited (ASX: SAM) (“SAM” or “the Company”) are pleased to advise that the proposed transaction ( Transaction ) detailed in respect of Resolution 4 in the Explanatory Memorandum to the Notice of Annual General Meeting dated 10 March 2017 ( Notice ) has been completed with Pritchard Equities Limited ( Transferee ).

As previously announced, the Transaction was approved by shareholders at the Annual General Meeting held on 10 April 2017.

With the completion of the Transaction, SAM will become a cash box with approximately $260,000 in net cash reserves (before costs) and a substantially reduced fixed cost base. ASX will allow the continued quotation of securities in a cash box entity for up to 6 months to enable the entity to identify and announce an agreement to acquire a new business.

The primary rationale for the Transaction is that the Board consider that the preservation of the Company’s cash reserves will best position the Company to identify further opportunities to return value to shareholders.

FOR FURTHER INFORMATION:

Simon Lindsay Managing Director Tel: +61 416 255 792