UNICO SILVER LIMITED — Capital/Financing Update 2017

Apr 18, 2017

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E2 Metals Limited

ABN: 34 116 865 546 ASX Code: E2M

Level 4, 100 Albert Road South Melbourne VIC 3205 P: +61 3 9692 7222 F: +61 3 9077 9233 E: info@e2metals.com.au

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E2 Metals commences trading on the ASX

E2 Metals to commence drilling at Mt Solitary

19 April 2017

Directors / Secretary

Simon Peters Managing Director

Chris Spurway Non Executive Director

Melanie Leydin Non Executive Director

Justin Mouchacca Company Secretary

Issued capital

60.7M fully paid ordinary shares

Substantial Shareholders

Mrs Dominique Stewart (5.60%) JA Rogers (4.9%) The Trust Company Ltd (4.9%) Capri Trading Pty Ltd (4.74%) Lido Trading Ltd (4.12%)

• Completion of Initial Public Offering

• Completion of acquisition of Mt Hope Gold Project

• Drilling Campaign fast tracked at Mount Solitary Project

• Fully permitted drill program at Neavesville

E2 Metals (ASX: E2M), (E2 Metals or Company) commenced trading today on the Australian Securities Exchange (ASX) following the completion of an initial public offering (IPO) which raised A$6 million at $0.20 a share.

In conjunction with the completion of the IPO and its ASX listing, E2 Metals has completed the acquisition of the remaining interest in the Cobar Basin Mt Hope Gold Project from China Waste Corporation Limited subject to the Ministerial consent that is currently being sought.

E2 Metals is focused on advancing both its Mt Hope Gold project located in the tightly held world class Cobar basin and the Neavesville epithermal Gold and Silver Project, located in the Hauraki goldfield of New Zealand’s North Island.

A drilling campaign for the Mount Solitary NSW Cobar basin gold project has been fast tracked for an immediate start for up to 4000m of both RC and diamond drilling to target the extensions to known high grade gold mineralisation that remains open.

E2 Metals Managing Director Simon Peters said:

“We look forward to embarking on our journey as a listed company and commencing further drilling at our Neavesville and Mount Hope projects. We thank shareholders for their support of our IPO and we look forward to delivering positive news flow.”

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Location of Mt Hope Gold Project

Mt Solitary

Previous drilling by E2 Metals at Mt Solitary returned exceptional results and confirmed the down dip continuity of the gold mineralisation which will now be further tested as the company aims for a maiden JORC compliant resource estimate.

E2 Metals drill results at Mt Solitary include:

• 8.24g/t Au over a drilled thickness of 6m in 13MSR01 at a depth of 148 metres, including an interval of 19.91g/t Au over 2m

• 9.98g/t Au over a drilled thickness of 4 metres in 13MSR05 from a depth of 49 metres, including an interval of 36.60g/t Au over 1 metre from 51m

• 9.01g/t Au over a drilled thickness of 2 metres in 13MSR06 from a depth of 172 metres, including an interval of 17.30g/t Au over 1 metre from 173m

Neavesville Project, New Zealand

The Company has prepared a fully permitted drill program at the Neavesville project situated in the Hauraki Goldfield. The program was set to start upon listing on the ASX, however, severe wet weather in the past two weeks from the Cyclone Debbie system and also a more significant rain event associated with Cyclone Cook has resulted in the Thames-Coromandel District being declared a state of emergency on 12 April, 2017. E2 Metals technical personnel on site in NZ together with the drilling contractor have been required to temporarily postpone the Neavesville drilling program as a result of these weather events.

Drilling at the Neavesville Project in NZ will commence as soon as road repairs have been completed and field crews and drilling contractors mobilized. Neavesville is located near some of the largest producers within the Hauraki Goldfield and the planned drill program was designed with the aim of significantly upgrading the existing JORC 2012 resource estimate.

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Neavesville is:

• 15 km south-east of the historic Thames Mine, which had past production of approximately 1,441,864 oz Au.

• 25 Kilometres North west of Waihi township and the Martha Mine (including Waihi, Favona and Correnso deposits), a giant epithermal gold deposit and major current producer which accounts for most past production of gold and silver from the Hauraki Goldfield.

• 20 kilometres northwest of Golden Cross, which was the fourth largest gold producer in the Hauraki Goldfield with production, from 1991 to 1998 of a total of 662,000 oz of gold produced from 5,136,300 tonnes of ore.

The Neavesville Project contains three principal target areas, Neavesville, Oneura and Chelmsford. The Neavesville target area contains six known prospects, with the two most advanced being the Trig’s Bluff Deposit and the Ajax Prospect. Work conducted at Neavesville includes 63 diamond holes totalling more than 8,900 metres of drilling; 1,400 rock samples, soil sampling grids and geophysical surveys.

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E2 Metals Project Locations

E2’s primary objective after listing is to carry out drilling programs at both the Mt Hope Gold and the Neavesville projects to upgrade historic resources, to expand resources already identified and establish a maiden resource in accordance with the 2012 JORC Code.

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For further information, please contact:

Simon Peters Nathan Ryan Managing Director Investor Relations Ph: +61 3 9671 3801 Ph: +61 420 582 887 Website: www.e2metals.com.au

Competent Person Statements

The Information in this announcement that relates to Exploration Results for the Projects is extracted from the Replacement Prospectus lodged 23 February 2017, which is available to view at http://e2metals.com.au and www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Prospectus. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the Prospectus.

The information in this announcement that relates to the estimation and reporting of the Neavesville Mineral Resource is extracted from the Independent Geologist’s Reports included in the Replacement Prospectus lodged on 23 February 2017 which is available to view at http://e2metals.com.au and www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Independent Geologists Report included in the Prospectus and that all material assumptions and technical parameters underpinning the Mineral Resource estimate in the Independent Geologists Report included in the Prospectus continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not materially modified from the Independent Geologists Report included in the Prospectus.

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