S2 RESOURCES LTD — Capital/Financing Update 2017

May 31, 2017

ASX Announcement

Thursday 1[st] June 2017

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CHANGE IN EMPLOYEE AND SERVICE PROVIDER OPTIONS

S2 Resources Ltd (“S2” or the “Company”) advises of changes to unlisted service provider (SPSOP) and employee (ESOP) share option plan options as follows:

SPSOP options

• 500,000 SPSOP 31 cent options expiring 14 September 2019 that were required to be exercised by no later than 31 May 2017 under the terms of the SPSOP have lapsed unexercised.

ESOP options

• 1,000,000 ESOP 61 cent options expiring 6 October 2020 have vested.

For further information, please contact:

Mark Bennett Tony Walsh Managing Director Company Secretary +61 8 6166 0240 +61 8 6166 0240

North Wing, Level 2, 1 Manning Street, Scarborough WA 6019, Australia PO Box 1059 Scarborough WA 6922, Australia ABN 18 606 128 090 T +61 8 6166 0240 F 61 8 6241 4299 E admin@s2resources.com.au W www.s2resources.com.au