SILVER MINES LIMITED — Capital/Financing Update 2019

Apr 3, 2019

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

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4 April 2019

Company Announcement Officer ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

CLEANSING NOTICE

This notice is given by Silver Mines Limited (“Issuer”), under section 708A(5)(e) of the Corporations Act 2001 (“Act”).

The Issuer today issued 57,000,000 fully paid ordinary shares at an issue price of A$0.05 per Share (“Shares”) and 30,500,000 options (exercisable $0.06, expiry 6 September 2021) (“Options”) to institutional, professional and sophisticated investors under the placement announced on 29 March 2019.

The Issuer advises that:

• (a) the Shares and Options were issued without disclosure to investors under Part 6D.2 of the Act;

• (b)

• this notice is being given under sections 708A(5)(e) of the Act;

• (c)

• as at the date of this notice, the Issuer has complied with:

  • (i) the provisions of Chapter 2M of the Act, as they apply to the Issuer; and

  • (ii) section 674 of the Act, as it applies to Issuer; and

• (d) as at the date of this notice, there is no information that is ‘excluded information’ within the meanings of sections 708A(7) and 708A(8) of the Act.

Yours faithfully Silver Mines Limited

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Trent Franklin Company Secretary

Silver Mines Limited ABN: 45 107 452 942

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Silver Mines Limited ABN: 45 107 452 942

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