TEMPEST MINERALS LIMITED — Capital/Financing Update 2017

Jul 27, 2017

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ASX Announcement

ASX: Li3

28 July 2017

New Hard Rock Lithium Exploration License Applications

• 2 New Exploration License Applications in the SE Yilgarn region, Western Australia: E 63/1862 and E 15/1616

• Extensions of existing granted Exploration Licenses

• Potential for hard-rock lithium mineralisation, including β-spodumene bearing pegmatites

• Consolidates position over existing hard rock lithium targets

Lithium Consolidated Mineral Exploration Ltd (“Lithium Consolidated”) is pleased to announce the application for E 63/1862 (“Ten Mile South”) and E 15/1616 (“Wanoc”) Exploration Licenses (the “Licenses”) (see Figure 1).

These new ELAs will expand our presence over target pegmatite ore bodies which extend outside of our existing granted ELs.

The E 63/1862 (Ten Mile South) license application covers the southern extension of the target pegmatite bodies in the E 63/1813 (“Ten Mile”) granted exploration license.

The geophysical data shows the presence of:

• reduced “fertile” granites which are under cover; and

• potential lithium bearing pegmatite bodies adjacent to regional contractional faults in the Ten Mile and Ten Mile South licenses.

The target pegmatite bodies are in high grade metamorphics in the Ten Mile and Ten Mile South licenses. The presence of high grade metamorphics increases the potential for metallurgically preferable, β-spodumene bearing pegmatites.

The E 15/1616 (“Wanoc”) license application is the northern extension of the granted exploration license E 15/1542 (“Nawoc”). Both licenses are in a regional structural corridor in the Yilgarn Craton.

The geophysical data over the Wanoc and Nawoc licenses shows the presence of reduced “fertile” granites in covered Archean bedrock. A detailed interpretation of the geophysical data has shown potential lithium bearing pegmatite bodies within the aureole of the fertile granite.

Lithium Consolidated’s license area covers 557km² of known lithium-fertile “belts” undercover in the Yilgarn Craton in Western Australia. License details are provided Table 1 of the Appendix.

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Figure 1: Location of the Licenses

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For more information, please contact:

Duncan Cornish Company Secretary Phone: +61 7 3212 6299 Email: investors@lithiumconsolidated.com Please visit us at: www.lithiumconsolidated.com

Cautionary Statements

Forward-looking statements

This document may contain certain forward-looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond the company’s control. Actual events or results may differ materially from the events or results expected or implied in any forward-looking statement.

The inclusion of such statements should not be regarded as a representation, warranty or prediction with respect to the accuracy of the underlying assumptions or that any forward-looking statements will be or are likely to be fulfilled. LCME undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this document (subject to securities exchange disclosure requirements).

The information in this document does not take into account the objectives, financial situation or particular needs of any person or organisation. Nothing contained in this document constitutes investment, legal, tax or other advice.

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Appendix: Additional Information

Table 1: Western Australia Exploration License details

Exploration License / Application	Application Date	**Area (km2) **	Status
E 63/1814 (Bedonia)	30/06/16	23	Granted
E 63/1815 (Caranning)	30/06/16	35	Pending
E 77/2384 (Windarling)	30/06/16	42	Pending
E 69/3455 (Esmond)	30/06/16	52	Granted
E 28/2631 (Junction)	30/06/16	47	Granted
E 28/2632 (Snomys)	30/06/16	38	Granted
E 63/1813 (Ten Mile)	30/06/16	44	Granted
E 15/1542 (Nawoc)	18/07/16	29	Granted
E 28/2651 (Cool)	22/09/16	41	Granted
E 63/1826 (Dundas)	3/10/16	93	Granted
E 63/1862 (Ten Mile South)	7/07/17	49	Pending
E 15/1616 (Wanoc)	17/07/17	64	Pending

Note: Granted Exploration Licenses shown in grey shading