SILVER MINES LIMITED — Share Issue/Capital Change 2016

Jun 2, 2016

Notification of Consolidation/Split

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Notification of Consolidation/Split

Announcement Summary

Entity name

SILVER MINES LIMITED

Applicable security for the reorganisation

SVL ORDINARY FULLY PAID SVLO OPTION EXPIRING 13-OCT-2017 SVLAM OPTION EXPIRING 31-MAY-2017 EX 4.3C

Announcement Type

New Announcement

Date of this announcement

Friday June 3, 2016

Reorganisation type

Security consolidation

Effective Date

Thursday June 9, 2016

Record Date

Friday June 10, 2016

Issue Date

Monday June 20, 2016

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

1.1 *Name of +Entity

SILVER MINES LIMITED

Registration Number

1.2 *Registered Number Type

ACN 107452942

1.3 *ASX issuer code

SVL

1.4 *The announcement is

New announcement

1.5 *Date of this announcement

Friday June 3, 2016

Notification of Consolidation/Split

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1.6 *Securities affected by the reorganisation

SVL ORDINARY FULLY PAID SVLO OPTION EXPIRING 13-OCT-2017 SVLAM OPTION EXPIRING 31-MAY-2017 EX 4.3C

Part 2 - Approvals

2.1 *Are any of the below approvals required for the reorganisation before business day 0 of the timetable?

• Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval

• FIRB approval

Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the reorganisation.

Yes

2.2 Approvals

Approval/Condition Date for determination Is the date estimated Approval +Security holder Monday June 6, 2016 or actual? received/condition approval Actual met? No Comments** EGM on 6 June 2016

Part 3 - Reorganisation timetable and details

3.1 *+Record date

Friday June 10, 2016

3.2 Date of +security holder meeting

Monday June 6, 2016

3.3 Last day for trading in the pre-re-organised +securities

Wednesday June 8, 2016

3.4 *Effective date. Trading in the re-organised securities commences on a +deferred settlement basis. If the +entity's securities are suspended from trading during this period there will be no +deferred settlement trading however ASX still captures this date.

Thursday June 9, 2016

3.5 Record date

Friday June 10, 2016

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3.6 First day for +entity to send notices to +security holders of the change in the number of +securities they hold. First day for +entity to register +securities on a post-reorganised basis Tuesday June 14, 2016

3.7 *+Issue date. +Deferred settlement market ends. Last day for +entity to send notices to +security holder of the change in the number of +securities they hold. Last day for +entity to register +securities on a post-reorganised basis Monday June 20, 2016

3.8 Trading starts on a normal T+2 basis

Tuesday June 21, 2016

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis

Thursday June 23, 2016

Part 4 - Reorganisation type and details

4.1 *The reorganisation is

+Security consolidation

4.1a *Consolidation ratio: the +securities will be consolidated on the basis that every

100

(pre-consolidation) +securities will be consolidated into

1

(post-consolidation) +security (/ies).

4.2 *Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after reorganisation

5.1 *+Securities on issue before and after the reorganisation

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ASX +Security Code ASX +Security
SVL Description
ORDINARY FULLY
PAID
Quoted/unquoted Number on issue Number on issue after Estimate/Actual
Quoted before reorganisation reorganisation Actual
6,714,172,861 67,141,729
ASX +Security Code ASX +Security
SVLO Description
OPTION EXPIRING
13-OCT-2017
Quoted/unquoted Number on issue Number on issue after Estimate/Actual
Quoted before reorganisation reorganisation Actual
2,339,354,178 23,393,542
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ASX +Security Code ASX +Security
SVLAM Description
OPTION EXPIRING
31-MAY-2017 EX
4.3C
Quoted/unquoted Number on issue Number on issue after Estimate/Actual
Unquoted before reorganisation reorganisation Actual
5,800,000 58,000
5.2 Exercise price of options
ASX +Security Code ASX +Security Description
SVLO OPTION EXPIRING
13-OCT-2017
Quoted/unquoted Exercise price before Exercise price after
Quoted reorganisation reorganisation
0.00300000 0.30000000
ASX +Security Code ASX +Security Description
SVLAM OPTION EXPIRING
31-MAY-2017 EX 4.3C
Quoted/unquoted Exercise price before Exercise price after
Unquoted reorganisation reorganisation
0.04300000 4.30000000
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Part 6 - Further information

6.1 Further information relating to the reorganisation

6.2 Additional information for inclusion in the Announcement Summary

Notification of Consolidation/Split

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