RTG Mining Inc. — Delisting Announcement 2014

Jun 3, 2014

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ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE: 4 JUNE 2014

IMPLEMENTATION OF SCHEMES OF ARRANGEMENT

Sierra Mining Limited ( Sierra or the Company ) is pleased to announce that the schemes of arrangement, by which RTG Mining Inc. ( RTG ) will acquire all of the issued shares and listed options in Sierra ( Schemes ), have been implemented.

Entitlement to consideration

Sierra shareholders

Sierra shareholders who held Sierra shares at 5:00 pm (AWST) on Wednesday, 28 May 2014 ( Record Date ) and whose registered address is in Australia, New Zealand or Canada, have received:

• three (3) RTG shares (in the form of RTG CDIs) for every ten (10) Sierra shares; and

• one (1) RTG option (in the form of RTG Option CDIs) for every 30 Sierra shares,

held on the Record Date ( Share Scheme Consideration ).

Sierra optionholders

Sierra optionholders who held Sierra listed options on the Record Date and whose registered address is in Australia, New Zealand or Canada, have received:

• two (2) RTG shares (in the form of RTG CDIs) for every ten (10) Sierra listed options; and

• two (2) RTG options (in the form of RTG Option CDIs) for every 90 Sierra listed options,

held on the Record Date ( Option Scheme Consideration ).

Transfer of Sierra shares and options

All Sierra shares and options have been transferred to RTG and RTG has been entered in Sierra's share and option registers as the registered holder of all Sierra shares and options.

Delisting of Sierra from ASX and trading in RTG securities

An application has been made to remove Sierra from the official list of ASX at the close of trade today.

It is expected that normal trading in the Share Scheme Consideration and Option Scheme Consideration on ASX will commence on 5 June 2014.

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Board Changes

Following the implementation of the Schemes, Mr Michael Carrick, Ms Justine Magee and Mr Mark Turner have been appointed Directors of the Company. The existing Directors, Mr Ian Middlemas, Mr Matthew Syme and Mr Johan Raadsma have resigned as Directors with immediate effect.

Ms Hannah Hudson has replaced Mr Clint McGhie as Company Secretary.

Enquiries: Hannah Hudson – Company Secretary +61 8 6489 2900

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