TREK METALS LIMITED — Share Issue/Capital Change 2014

Jul 24, 2014

ZAMBEZI RESOURCES LIMITED ARBN: 124 462 826

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MAIL: PO Box 1796, West Perth WA 6872 Australia EMAIL: info@zambeziresources.com www.zambeziresources.com

Cleansing Statement

25 July 2014

Company Announcements Office Australian Securities Exchange

Notice under Section 708A(5)(e) Corporations Act

Zambezi Resources Limited (“ZRL”) advises that it has today issued 2,727,273 fully paid ordinary shares to sophisticated investors and directors of the Company at a price of A$0.11.

Accordingly the Company gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (the "Corporations Act") that:

1. The abovementioned fully paid ordinary shares and the relevant CDIs were issued without disclosure to investors under Part 6D.2 of the Corporations Act ;

2. As at the date of this notice the Company has complied with:

3. (i) the provisions of Chapter 2M Corporations Act as they apply to the Company; and

4. (ii) section 674 Corporations Act ; and

5. As at the date of this notice there is no "excluded information" (as defined in subsection 708A(7) of the Corporations Act ) which is required to be disclosed by the Company.

Yours faithfully

Zambezi Resources Limited

Frank Vanspeybroeck Managing Director

BERMUDA ZAMBIA AUSTRALIA CANON’S COURT PLOT 5697 Grd Floor, 20 Kings Park Road 22 VICTORIA STREET BEU CRESCENT WEST PERTH, WA HAMILTON HM12 KALUNDU LUSAKA AUSTRALIA 6005 TEL: +260 211 292 128 TEL: +61 8 6555 1879 FAX: +61 8 9398 4104