VERITY RESOURCES LIMITED — Capital/Financing Update 2013

Jul 14, 2013

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED

Market Cap

DATE: 15 JULY 2013

Issued Capital

RESULT OF THE 2 FOR 5 NON-RENOUNCEABLE RIGHTS ISSUE

The Directors of Botswana Metals Limited advise that the Company has raised $43,126 before costs from the Rights Issue to Eligible Shareholders that closed on 11 July 2013.

Substantial shareholders

The Rights Issue shortfall to the offer is $709,415 being 70,941,485 shares at 1 cent per share plus 1 Attaching Option at nil cost. The Directors can place the Shortfall Shares in accordance with the ASX Listing Rules.

Directors

Given the low amount of acceptances to the rights issue from shareholders, the Company is now accessing its funding options.

The BML Board acknowledges that uncertainty may exist due to the fact that the Department of Mines in Botswana has still not advised the Company as to whether its Retention License applications (over areas of the former Prospecting Licences 110/94, 111/94 and 54/98) have been approved and the timing of such an approval.

Registered Office

The granting of these Retention Licenses is a condition precedent for the commencement of the Farm-in Joint Venture Agreement with BCL Limited of Botswana as previously advised to the ASX.

Contact

Pat Volpe

Chairman

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