TUNGSTEN MINING NL — Capital/Financing Update 2015

Nov 11, 2015

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12 November 2015

Company Announcements Office

Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Notification of expiry of un-listed options

Tungsten Mining NL (ASX: TGN, “TGN”) advises that the attached letter has been sent to holders of TGN un-listed options exerciseable at 25 cents on or before 4 December 2015, as notification of the expiry of their options on 4 December 2015.

Yours sincerely

Tungsten Mining NL

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Mark Pitts

Company Secretary

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97 Outram Street PO Box 517 T +61 8 9486 8492 E info@tungstenmining.com West Perth WA 6005 West Perth WA 6872 F +61 8 9322 2370 W www.tungstenmining.com

Tungsten Mining NL ABN 67 152 084 403

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12 November 2015

NAME OF SHAREHOLDER ADDRESS ADDRESS ADDRESS

Dear Option Holder

EXPIRY OF 4 DECEMBER 2015 OPTIONS

Options issued by the Company are due to expire at 5.00pm Western Standard Time on 4 December 2015.

In accordance with the ASX Listing Rules the Company advises as follows:

1. The latest date for the exercise of the options and for payment for the exercise price is 4 December 2015;

2. The exercise price of the options is 25 cents per option;

3. The consequence of non-payment of the exercise price is that the options will lapse;

4. The latest available market sale price of the Company’s shares on ASX prior to the date of this letter was 4 cents per share on 6 November 2015;

5. The highest and lowest market price of the underlying securities during the three months prior to 11 November 2015 are set out below:

6. i. Highest: 4.0 cents on various dates during the period;

7. ii. Lowest: 3.8 cents on various dates during the period.

If you intend to exercise these options, please advise the Company Secretary and the necessary forms will be sent to you for completion.

Yours sincerely

Tungsten Mining NL

Mark Pitts

Company Secretary

m

97 Outram Street PO Box 517 T +61 8 9486 8492 E info@tungstenmining.com West Perth WA 6005 West Perth WA 6872 F +61 8 9322 2370 W www.tungstenmining.com

Tungsten Mining NL ABN 67 152 084 403