RAGUSA MINERALS LTD — M&A Activity 2019

Oct 9, 2019

SIV Asset Management Limited ACN 143 194 165

` 3/ 15 -17 Pakington Street St Kilda Vic 3182

UPDATE ON ACQUISITION OF BALANCING ROCKS ZIM PTY LTD

Siv Asset Management Limited

(ASX: SAM)

ASX and Media Release

10[th] October 2019

Siv Asset Management Limited (ASX:SAM) ( Company ) provides the following update with respect to the proposed acquisition of Balancing Rocks Zim Pty Ltd ( Transaction ) as announced on 30 May 2019.

While the Transaction is progressing well, the parties requires further time to satisfy the conditions precedent of the Transaction, including the Company completing its due diligence enquiries. Accordingly, the parties to the Transaction have agreed in writing to extend the date for satisfaction or waiver of all conditions precedent, including for completion by the Company of its due diligence enquiries, to 31 January 2020.

The Company will provide further updates on the Transaction as and when available.

Michael Melamed

Director