VERITY RESOURCES LIMITED — Capital/Financing Update 2016

Mar 9, 2016

ACN 122 995 073

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ASX Code: BML

TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 10 MARCH 2016

NON-RENOUNCEABLE RIGHTS ISSUE RESULTS OF ISSUE

Botswana Metals Limited (ASX: BML) (“the Company”) refers to the pro-rata non-renounceable rights issue on a 7-for-9 basis of up to 505,572,770 new fully paid ordinary shares at an issue price of 0.2 cent ($0.002) cash per share payable in full on application.

The Company is pleased to report that a total of $580,948.05 has been raised to date which exceeds the minimum subscription and, subject to the clearance of cheques, 290,473,741 new shares will be allotted shortly.

Foxfire Capital Pty Ltd will manage the placement of the balance of the shortfall on a best endeavours basis.

The Board wishes to thank all applicants and the underwriters for their support.

An announcement will be made once the securities have been allotted.

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