TEMPEST MINERALS LIMITED — Capital/Financing Update 2017

Apr 9, 2017

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ASX Announcement 10 April 2017

Lithium Consolidated Mineral Exploration Limited (the “Company”)

FIRPTA Withholding of Tax Payment on United States Real Property Interests

Further to the Company’s announcement on 27 March 2017 concerning a secured loan to be made by it to each of Big Smokey Exploration LLC and ProspectOre LLC (the “Vendors”), the Company announces that it has advanced that loan by paying an amount of withholding tax of US$289,065 (A$383,206) to the United States Internal Revenue Service on 7 April 2017.

The Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”) required the company to pay withholding tax on the consideration payable by it to the Vendors for its acquisition of an 80% interest in each of the Tonopah Lithium and Teels projects.

Further details of the terms of that secured load deed as well as the terms of the security are set out in its earlier announcement on 27 March 2017.

ENDS

For further information, please contact:

Duncan Cornish, Chief Financial Officer and Company Secretary Lithium Consolidated Mineral Exploration Limited Level 10, 110 Mary Street Brisbane QLD 4000

About Lithium Consolidated Mineral Exploration Limited

Lithium Consolidated Mineral Exploration Limited (ASX:LI3) is an Australian lithium exploration company. We have material assets in Nevada, Australia and Botswana. Our team of Board members and executives are experienced in all aspects of exploration and development for natural resource companies.

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