TUNGSTEN MINING NL — Capital/Financing Update 2014

Nov 4, 2014

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ASX Announcement

Seabrook Rare Metals Venture

Tungsten Mining NL (ASX: TGN) is pleased to advise that it has entered into a binding agreement with Cobre Montana NL (ASX:CXB) that provides for CXB to explore for lithium and other metals, on the shores of Lake Seabrook, approximately 60km north-east of Southern Cross, Western Australia. The agreement concerns tenements comprising Tungsten Mining’s Koolyanobbing Project, notably E77/1853, E77/1854, E77/1855, E77/2021, E77/2022 and E77/2035 (the “Tenements”) and extends to an area of influence of 20km outside of the Tungsten Mining Tenements.

On 20 October 2014, CXB announced lodging an exploration licence application for prospective ground at Lake Seabrook, covering pegmatites which contain lithium mica, beryl and tourmaline. The initial target area was about 5km long and 2km wide. The mineralized zone trends north westerly from the CXB application area, beneath the lake bed and into ground held by Tungsten Mining with surface expression over a further 7km (Figure 1).

The mineralization appears to be associated with an extensive shear zone and consists of pegmatites and metasomatically altered country rock. On the ground held by Tungsten Mining, the mineralization is associated with tungsten bearing quartz veins and calc-silicate alteration which also contain a number of other rare metals, typical of the genesis associated with the pegmatites.

The Seabrook Rare Metals Venture provides CXB with a right to earn an 80% interest to all metals other than tungsten, the right of which remain or are vested in Tungsten Mining. The fundamental terms of the agreement are:

• CXB to manage the joint land package and be responsible for maintaining the tenements in good standing

• An area of influence around the Tungsten Mining Tenements of 20km

• CXB to sole fund to the commencement of definitive feasibility study

• On committing to a definitive feasibility study conversion to an 80/20 (CXB/Tungsten Mining) contributing JV for development of non-tungsten minerals

• Tungsten Mining retains 100% interest in tungsten and retains right to continue operations for the discovery and development of Tungsten within the area of interest

• CXB to provide all exploration data to Tungsten Mining

-ENDS-

Craig Ferrier Chief Executive Officer 5 November 2014

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Tungsten Mining NL 97 Outram Street PO Box 517 T +61 8 9486 8492 E info@tungstenmining.com ABN 67 152 084 403 West Perth WA 6005 West Perth WA 6872 F +61 8 9322 2370 W www.tungstenmining.com

Competent Person’s Statement

The information in this report that relates to Exploration Targets and Exploration Results is based on, and fairly represents, information and supporting documentation prepared by Peter Bleakley, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Bleakley is not a full-time employee of the company. Mr Bleakley is a consultant to the mining industry. Mr Bleakley has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Bleakley consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

For further information contact:

Craig Ferrier Chief Executive Officer Tel: +61 8 9486 8492 Colin Hay PPR Public Relations Tel: + 61 8 9388 0944

Figure 1 –Seabrook Rare Metals Venture tenement interests

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