TESORO GOLD LTD — Capital/Financing Update 2016

Dec 7, 2016

8 December 2016

ASX: PKA

PLUKKA PERFORMANCE UPDATE

Plukka Limited (“ Plukka ” or the “ Company ”) is pleased to announce that over the past two months Plukka has seen strong YoY growth in online performance, with a notable uptick in online sales. Combined online sales for October and November 2016 were strong with revenue up 315% over the same period in 2015. Likewise, the overall conversion rate for October and November 2016 showed an improvement of 131% over October and November 2015.

Of the pieces sold in October and November, more than half were from the newly launched Plukka Essentials collection. Launched in late September, the Plukka Essentials collection features Plukka own-brand pieces which are designed for every-day wear and are sold at an average price point of $700. Other fine jewellery brands featured on the company online shop, notably Yeprem and Marika, also performed well during this period.

Growing awareness and sales of the Plukka Essentials range will remain a key priority for the remaining of Q4 and Q1 2017. The collection will continue to be supported via a 360° marketing and PR strategy, focusing on the brand’s key markets: US, UK and Asia Pacific.

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18K Yellow Gold Wire Earrings “Circle of Peace” Diamond “X-Factor” Diamond Multi Band by Marika Bracelet by Plukka Ring by Plukka

For example, Plukka will continue to focus on developing the business' online presence and the overall digital consumer experience, to take advantage of the busy online shopping period in December. Plukka will leverage its robust database and social programme, to strengthen connections to existing consumers and grow our online community.

• Provided on an unaudited basis.

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Offline events will also be used to maximise brand awareness and consumer engagement. A ‘Meet the Designer’ event series will be running throughout the holiday period, in New York, London and Hong Kong, giving consumers the opportunity to meet exclusive Plukka designers and to experience the product.

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“Entwined” Diamond Ring by Plukka “Zesta” Diamond Hoop Earrings by “Moonstar” Diamond Necklace by Plukka Plukka

For more information, please contact:

Natalia Obolensky Charly Duffy natalia@plukka.com charly@cdplus.com.au Managing Director Director / Company Secretary

About PLUKKA

Plukka is a global, bricks and clicks retailer for creative and fashion-forward fine jewelry. Founded in 2011 as a discovery machine for jewellery, Plukka has evolved into a sophisticated ecommerce platform, supported by offline retail operations, that is actively disrupting the highly fragmented, but growing jewellery market world-wide.

The majority of the collections on the website are priced between US$500 and US$2,000, but all feature stylish, edgy pieces which are true style signifiers and have been embraced by the press and celebrities world-wide. The collection, including rings, earrings, bracelets and necklaces, is made of precious and semiprecious stones, 14K or 18K gold, as well as other precious metals.

With industry spending forecast to reach $370B in 2020[1] , and with 10% of spending shifting to online, Plukka is uniquely positioned to capture this new and dynamic jewellery market. Additionally, Plukka is one of the first creative fine jewellery retailers to vertically integrate through strategic partnerships and ensure that the jewellery designs are customer-centric, rather than product driven. www.plukka.com