SILVER MINES LIMITED — Capital/Financing Update 2016

Mar 14, 2016

Level 11, 52 Phillip St Sydney NSW 2000 P: +61 2 8188 2557 F: +61 2 8316 3999 Info@silverminesltd.com.au www.silverminesltd.com.au

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UPDATE ON VOLUNTARY SUSPENSION

Silver Mines Limited (ASX:SVL) (Company) entered a voluntary suspension on Monday, 29[th] February 2016 with the expectation of an announcement in respect to a substantial corporate transaction and a corresponding placement. The Company made an announcement on Thursday, 3[rd] March 2016 in relation to the corporate transaction and is currently awaiting finalisation of the placement.

It is anticipated that the Company will make an announcement with respect of the placement prior to opening of trade on Friday, 18[th] March 2016 along with a request to lift the suspension of SVL.

For enquiries please contact Investor Relations, Hugo McChesney (M: +61 401 736 739 E: hugo@silverminesltd.com.au)

Yours faithfully Silver Mines Limited

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Trent Franklin Company Secretary

Released: 15[th] March 2016

Silver Mines Limited ABN: 45 107 452 942

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