SUREFIRE RESOURCES NL — Capital/Financing Update 2017

Feb 12, 2017

13 February 2017

Surefire acquires 90% of Kooline High Grade Lead-Silver Project

Highlights

• Surefire elects to acquire 90% of the Kooline Project
• Drill program planning in the process of being finalised
• Geochemical surveys to be conducted in conjunction with upcoming drilling to potentially delineate additional targets beneath transported cover

Surefire Minerals NL (ASX: SRN, "the Company") is pleased that it has elected to proceed with the acquisition of 90% equity in the Kooline Silver-Lead-Copper Project ("the Project").

Figure 1: Rock Chip Sampling, Historical Workings and Mineralised Corridors

Surefire's Executive Director, Don Valentino commented "The high grade results returned from the recently completed sampling and mapping program have provided a strong catalyst to Surefire to proceed with the acquisition of the Kooline Project."

About Kooline

The Project, located 55km south of the Paulsen's Gold Mine, within the Ashburton Province, produced a total of 3,600t of lead and 950kg (30,546oz) of silver over an elevenyear period (1948 and 1959). Much of the historical production came from three mines: The Gift, Jane-Audrey and Bilrose, which lie within the tenure.

Figure 2: regional Location Plan of Kooline

Kooline lies within the northern margin of the West Bangemall Basin and encompass rocks of the Ashburton and Capricorn Formations of the Wyloo Group.

Lead-silver mineralisation at Kooline is associated with mesothermal quartz veins along shear zones in siltstones and greywackes. These sub-vertical vein sets occur in multiple stacked and en echelon sets over several kilometres of strike. Individual veins range from 0.5 to >2m in thickness.

Commercial Terms:

Commercial terms for the acquisition of the Project are summarised below:

• 1. The total consideration for acquisition of 90% equity interest in the Project is 250,000,000 Fully Paid Ordinary Shares.
• 1. The Vendors are to retain a 10% free carried equity interest until the completion of a Definitive Feasibility Study (DFS). Upon completion of the DFS the Vendors may elect to contribute or dilute according to industry standard dilution formula. Upon being diluted to a 5% equity interest the Vendors may elect to retain a 1.5% net smelter royalty

Competent Persons Statement:

The information in this announcement that relates to the Kooline Project Exploration Results is based on information compiled and fairly represented by Mr Jonathan King, who is a Member of the Australian Institute of Geoscientists and a consultant to Surefire Minerals NL. Mr King has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he has undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr King consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.