SILVER MINES LIMITED — Share Issue/Capital Change 2017

Oct 9, 2017

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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10[th] October 2017

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 53,750,000 fully paid ordinary shares (“ Share ”) at an issue price of A$0.08 per Share to institutional and professional investors under the placement announced on Thursday, 5[th] October 2017.

The Issuer advises that:

• (a) the Shares 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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About Silver Mines Limited

The Silver Mines strategy has been to consolidate quality silver deposits in New South Wales and to form Australia’s pre-eminent silver company.

The Company’s goal is to provide exceptional returns to shareholders through the acquisition, exploration and development of quality silver projects and by maximising leverage to an accretive silver price.

Silver Mines Limited ABN: 45 107 452 942

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