SILVER MINES LIMITED — Capital/Financing Update 2015

Aug 31, 2015

ASX and Media Release: 1 September 2015 ASX code: WRM

Heads of Agreement Funding Update

White Rock Minerals Ltd (the Company) advises that it has agreed to a revised funding timetable with Silver Mines Ltd (ASX:SVL) in relation to their funding commitment under the Heads of Agreement and related Subscription Agreement between the parties (refer to ASX Announcement of 23 July 2015).

The Company advises that a Deed of Variation to the Subscription Agreement has been signed by the parties, with the following placement quantum and timetable agreed as follows:-

• Tranche 1 placement of $125,000 by 18 September 2015 (at an issue price of $0.02 per share); and

• Tranche 2 placement of $75,000 by 6 October 2015 (at an issue price of $0.02 per share).

All other material terms of the funding arrangements remain as previously advised.

For further information, please contact: Matthew Gill (Chief Operating Officer) Phone: 03 5331 4644

E-mail: info@whiterockminerals.com.au