VERITY RESOURCES LIMITED — Capital/Financing Update 2013

Jul 18, 2013

ABN 96 122 995 073

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ASX Code: BML

TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 19 JULY 2013

REFUND OF SUBSCRIPTIONS FROM NON-RENOUNCEABLE RIGHTS ISSUE

Botswana Metals Limited closed its Non-renounceable Rights Issue (“the Issue”) on 11 July 2013. The Issue was grossly undersubscribed. A total of $43,216 was subscribed leaving a shortfall of $709,415.

The Issue was on a 2 for 5 basis plus one free attaching option. Pursuant to the Replacement Prospectus dated 19 June 2013 (and the Supplementary Prospectus dated 28 June 2013) the Company was to apply for listing of the options issued, however due to the poor response to the Issue there is not sufficient spread of those options to enable those options to be listed with the ASX.

As a consequence of the above the Company will refund amounts subscribed by shareholders who applied for shares pursuant to the Replacement Prospectus (and the Supplementary Prospectus). The refunds will be sent to those subscribers by the share registry as soon as practical.

The Company is also reviewing its future funding options.

Pat Volpe Chairman

Botswana Metals Limited

REGISTERED OFFICE Suite 5, Level 1, 310 Whitehorse Road, Balwyn Vic Australia 3103 P: +61 3 9830 7676; F: +61 3 9836 3056 Email info@botswanametals.com.au www.botswanametals.com.au