TEMPEST MINERALS LIMITED — Capital/Financing Update 2017

Mar 26, 2017

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22 March 2017

Ms Lisa Banh ASX Listing Compliance Exchange Centre 20 Bridge Street Sydney NSW 2000

Dear Lisa

Lithium Consolidated Mineral Exploration Limited – Tenement Update

Lithium Consolidated Mineral Exploration Limited (ACN 612 008 358) (the Company , or LCME ) confirms that:

1. the Company has paid $100,000.00 (being the Cash Consideration) to Gordon Addie, ProspectOre LLC and Big Smokey Exploration LLC;

2. the Company has issued 12,000,000 fully paid ordinary shares (being the Consideration Shares) to Gordon Addie, ProspectOre LLC and Big Smokey Exploration LLC; and

3. the Company’s tenements and tenement applications in Western Australia and South Australia remain in good standing. These tenements are owned by West Resources Pty Ltd, a wholly owned subsidiary of the Company;

4. the Company’s tenements and tenement applications in Botswana remain in good standing. These tenements and tenement applications are owned by South Resource Ventures Pty Ltd, an eighty per cent owned subsidiary of the Company; and

5. the payment of the Cash Consideration and the issue of the Consideration Shares triggers a 15% withholding tax liability for ProspectOre LLC and Big Smokey Exploration LLC. In order to allow completion of that transaction and quotation of the Company’s shares on ASX to occur expeditiously, the Company has agreed to lend ProspectOre LLC and Big Smokey Exploration LLC the amount of the withholding tax liability as finally assessed by the US Internal Revenue Service of the US Department of the Treasury.

Signed for an on behalf of Lithium Consolidated Mineral Exploration Limited.

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Duncan Cornish Company Secretary

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