STRIKE RESOURCES LIMITED — Capital/Financing Update 2016

Dec 13, 2016

Wednesday, 14 December 2016

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MARKET ANNOUNCEMENT

Sale of Peru Iron Ore Assets

Strike Resources Limited (ASX:SRK) is pleased to announce that it has entered into a Conditional Sale Agreement ( Agreement ) with a subsidiary of Chinese industrial and financial group Zhongrong Xinda Group Co. Ltd. ( Zhongrong Xinda ) to sell its Apurimac and Cusco Iron Ore Projects in Peru[1] for US$10 million (~A$13.5 million).

The sale is subject to completion of due diligence, execution of final documentation and compliance with all applicable regulatory requirements (including Strike shareholder approval if required). Strike expects to update the market as to whether shareholder approval is required to complete the transaction early in the new year.

Zhongrong Xinda is required to complete its due diligence by 30 April 2017 at which time the parties are also expected to complete the final documentation relating to the sale. The purchase consideration is payable on execution of the final documentation and satisfaction of all applicable regulatory requirements.

Zhongrong Xinda is a large private industrial and financial group in China, which has published reported assets of ~130 billion yuan (~A$25 billion).[2]

Zhongrong Xinda has recently acquired the large-scale Pampa de Pongo Iron Ore Project in Peru.

FOR FURTHER INFORMATION

William Johnson Victor Ho Managing Director Director and Company Secretary T | (08) 9214 9700 T | (08) 9214 9700 E | wjohnson@strikeresources.com.au E | cosec@strikeresources.com.au

ABOUT STRIKE RESOURCES LIMITED (ASX:SRK)

Strike Resources is an ASX listed resource company, owner of the high grade Apurimac Magnetite Iron Ore Project and Cusco Magnetite Iron Ore Project in Peru and currently developing a portfolio of lithium and graphite exploration projects in Australia and Chile.

1 Further information about Strike’s high grade Apurimac Magnetite Iron Ore Project and Cusco Magnetite Iron Ore Project in Peru can be found in Strike’s latest Quarterly Report and on its website: http://strikeresources.com.au/projects/ 2 Per consolidated financial statements for 30 September 2016 published by Shanghai Clearing House: http://www.shclearing.com/xxpl/cwbg/sjb/201610/t20161031_196716.html

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www.strikeresources.com.au

STRIKE RESOURCES LIMITED

A.B.N. 94 088 488 724

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Level 2, 23 Ventnor Avenue, West Perth, Western Australia 6005 T | +618 9214 9700 F | +618 9214 9701

E | info@strikeresources.com.au