SILVER MINES LIMITED — Capital/Financing Update 2015

Nov 11, 2015

MARKET RELEASE

12 November 2015

SILVER MINES LIMITED

TRADING HALT

The securities of Silver Mines Limited (Company) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Monday, 16 November 2015 or when the announcement is released to the market.

Security Code: SVL

Kimberley Brown SENIOR ADVISER, LISTINGS COMPLIANCE (SYDNEY)

20 Bridge Street www.asx.com.au Sydney NSW 2000 Customer service 13 12 79

ASX Compliance Pty Limited ABN 26 087 780 489

==> picture [122 x 34] intentionally omitted <==

Silver Mines Limited ABN: 45 107 452 942 10[th] Floor, 2 Bligh Street, Sydney, NSW 2000 P: +61 2 8188 2557 F: +61 2 9235 2203

12 November, 2015

Ms Kimberley Brown Senior Adviser, Listings Compliance (Sydney) Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000

Dear Kimberley

Request for Trading Halt on SVL Securities

Pursuant to ASX Listing rule 17.1, Silver Mines Limited (“the Company”) hereby requests a trading halt on its securities before commencement of trading on Thursday, 12 November, 2015, pending an announcement to the market regarding a significant Financing/Capital Raising arrangement by the Company.

The Company anticipates that a request to lift the trading halt will be made no later than the opening of trading on Monday, 16 November, 2015, concurrent with the release of an announcement in respect to the proposed transaction.

The Company is not aware of any reason why the trading halt should not be granted.

Yours faithfully Silver Mines Limited

==> picture [109 x 57] intentionally omitted <==

Vaz Hovanessian Company Secretary

1