SANTA FE MINERALS LTD — M&A Activity 2017

May 24, 2017

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39 Clifton St Nedlands WA 6009 Tel: +61 8 9389 6032 ABN: 59 151 155 734

25 May 2017

Company Announcements Office ASX Limited

Response to Takeover Offer

EZA Corporation Limited (ASX: EZA, 'Company') refers to the unsolicited off-market takeover offer made yesterday by Mercantile OFM Pty Ltd ('Mercantile OFM'), a wholly owned subsidiary of Mercantile Investment Company Ltd (ASX: MVT) (the 'Offer').

EZA is considering Mercantile OFM's Bidder's Statement in relation to the Offer and is not yet in a position to make a formal recommendation to shareholders. EZA's Board will meet shortly to consider the Offer in detail.

EZA's Board advises shareholders to TAKE NO ACTION in relation to the Offer at this stage.

EZA notes that the Offer appears to be on materially similar terms to Mercantile OFM's previous takeover offer for EZA (including in relation to the Offer price), which closed unsuccessfully in April 2017.

For further information, please contact:

Mark Jones Chairman

Mobile: +61 419 919 250