SILVER MINES LIMITED — Capital/Financing Update 2016

Jun 13, 2016

Level 11, 52 Phillip St Sydney NSW 2000 P: +61 2 8316 3997 F: +61 2 8316 3999 Info@silvermines.com.au www.silverminesltd.com.au

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ANNOUNCEMENT: COMPANY UPDATE & VOLUNTARY SUSPENSION

Silver Mines Limited (“the Company”) announces that it is currently finalising a capital raising to complete the proposed acquisition of the Bowdens Silver Project.

The Company will request the ASX to lift the voluntary suspension on or prior to 17[th] June 2016.

Yours faithfully

Silver Mines Limited

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Trent Franklin Company Secretary

Released: 14[th] June 2016

Silver Mines Limited ABN: 45 107 452 942

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