VERITY RESOURCES LIMITED — Capital/Financing Update 2015

Apr 28, 2015

ABN 96 122 995 073

==> picture [173 x 50] intentionally omitted <==

DATE: 29 APRIL 2015 ASX Code: BML

TO: ASX COMPANY ANNOUNCEMENTS OFFICE

__________

JOINT VENTURE CONTINUES WITH SCOPING STUDY

BCL –BML: PARTNERS PLAN TO INCREASE RESOURCE WITH SIGNIFICANT DRILL TARGETS IDENTIFIED

Following on from the Maiden JORC (2012) resource announcement yesterday, the Board of Botswana Metals Limited is please to advise that MSA Consultants will move to complete a Scoping Study on behalf of the Joint Venture partners BCL Limited and BML Limited. Plans are also on the way for a proposed drill program to increase the now known Ni +Cu+ PGE’s resource.

The final scoping study may include further drilling at Maibele North to test the now known down hole EM anomalies at depth and also the ground EM anomalies to the west between Maibele North and Airstrip Copper . Target drilling may also cover the east where both ground EM has been completed along strike from Maibele North and also drill hole 94 which encountered mineralisation some 250 metres away from Maibele North where the down hole EM has picked up a conductor response. It should be noted that hole 94 was not included in MSA Resource Calculation.

These VTEM, DHEM and TDEM conductor are being analysed by an independent consultant and a report is expected to recommend a proposed further drilling program.

If the JV partners agree to go ahead, a drilling program would be expected to commence in the June 2015 quarter.

It is expected that the scoping study will continue and include a next round of drilling aimed to increase the now known JORC 2012 inferred Ni + Cu + PGEs resource.

Pat Volpe

Chairman

Botswana Metals Limited

Mailing Address Suite 3, 16 Cotham Road, Kew, Victoria 3101 Registered Office Suite 506, Level 5, 1 Princess Street, Kew, Victoria 3101 P: +61 3 9855 1885; F: +61 3 9855 2885 Email info@botswanametals.com.au www.botswanametals.com.au