RAND MINING LIMITED — Capital/Financing Update 2016

Sep 1, 2016

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2 September 2016

Companies Announcement office Australian Securities Exchange Limited 4[th] Floor

20 Bridge St Sydney NSW 2000

Extension of term for the proposed acquisition of the Tapeta Iron Ore project, located in Northern Central Liberia, West Africa

We refer to previous announcements by Rand Mining Limited ( Rand or the Company ) relating to Rand’s option to acquire Iron Resources Limited ( IRL ) from Resource Capital Limited ( RCL ).

IRL is the registered holder of an iron ore mineral exploration licence over approx. a 600km[2] area located within the emerging Liberian – Guinean iron ore province.

Due to circumstances beyond the control of all parties, and by way of deed of variation, the parties have agreed to vary the Option Agreement, whereby RCL has agreed to extend the term of the option by 12 months, to 23 September 2017, in exchange for Rand paying a non – refundable option fee of USD$ 5,000.

All other terms of the option agreement remain the same

For further information, please contact:

Anton Billis Managing Director