VOLT RESOURCES LIMITED — Capital/Financing Update 2015

Oct 8, 2015

==> picture [452 x 126] intentionally omitted <==

ASX ANNOUNCEMENT

By e-lodgement

9 October 2015

Nachingwea Project EM Surveys Produce Multiple Additional Graphite Targets

Highlights:

• Ground EM surveys results received for three additional graphite prospects Namangale, Chidya and Masasi

• A total of 67.3 line km covering an area of 18.1km[2] encompassing the Company’s four main targets is now completed

• All four prospects contain areas of high conductivity associated with outcropping or sub-cropping graphite mineralisation

• Mozambi’s current drilling program will target multiple prospects

• Drilling is continuing on site and results will be released as they come to hand

• Additional exploration to continue over Mozambi’s large tenement package of 1,955km[2]

Introduction

Mozambi Resources Ltd (ASX: MOZ, “ Mozambi”, “the Company” ) is pleased to announce the completion of Ground EM surveys over all four of the Company’s main graphite prospects. The results of the ground EM survey at Chiwata was released on the 1[st] of October 2015 and now the results of the other three prospects have been received, also highlighting significant conductive anomalies coincident with known areas of graphite mineralisation on each prospect.

Managing Director Alan Armstrong said, “Mozambi Resources is highly encouraged by the numerous targets identified at each of the Company’s four key prospects. This has given us exceptional data to map a proposed drill program on multiple prospects as the Company further develops its large tenement package”.

Figure 1 shows the location of the Nachingwea Project tenements and the main graphite prospects. Based on the encouraging results of the ground EM surveys as well as geological mapping, Mozambi Resources is planning to drill test several of the anomalies at both the Chiwata and Namangale Prospects in the current drilling program.

==> picture [452 x 330] intentionally omitted <==

Figure 1 Location of the Nachingwea Project tenements

Ground EM Survey Results Summary

Ground EM surveys have now been conducted on the four priority exploration prospects of the Nachingwea Project. All of the surveys were conducted using a 200m-line spacing and covered the main areas of outcrop at each of the prospects. All four prospects confirmed outstanding targets. The areas of the map with pink indicate areas of high ground conductivity and the areas of blue indicate lower ground conductivity. Of the four surveys completed, the Namangale ground EM survey results produced the strongest magnitude target, with a large area of 1.8 km by 800 meters located in the north of the survey area. This particular area will now be a high priority target in our existing drill program. A brief description of each of the survey results is provided below.

Namangale Prospect

A total of 16.8 line km was surveyed at the Namangale Prospect covering an area of 4.3km[2] . The survey revealed a significant area of high conductivity coincident with mapped outcrops of graphite schist in the northern part of the survey area. The anomaly appears to comprise three sub parallel conductive units covering an area of 1.8km by 800 meters. Mozambi Resources is planning to drill test this target as part of the current drilling program after the completion of the first round of drilling at Chiwata. Preparations are now underway to clear access roads and drilling pads to allow drilling to commence in the coming weeks.

==> picture [369 x 522] intentionally omitted <==

Figure 2 EM Survey Results at the Namangale Prospect

Chidya Prospect

A total of 10 line km covering an area of 3.1km[2 ] was completed at the Chidya Prospect. Several areas of high conductivity were revealed with areas in the northern part of the survey coincident with outcropping graphite schist mineralisation. Geological mapping has now been completed at the prospect and a program of pitting, trenching and rock chip sampling is now planned to further refine drilling targets at the prospect. The results of the EM survey, together with the geological mapping suggest the prospect is quite similar to Chiwata (7.5km to the north) with the mineralisation folded with a generally shallow dip.

==> picture [452 x 321] intentionally omitted <==

Figure 3 EM Survey Results at the Chidya Prospect

Masasi Prospect

A total of 8.9 line km covering an area of 2.7km[2] was completed at the Masasi Prospect. The survey revealed a more complex pattern of anomalies than expected, based on the results of the trenching program completed at the prospect. The trenching program showed consistent strike of mineralisation to the North-North-East. As previously reported the prospect area is covered by alluvial sediments and relatively deep weathering profile compared to the other prospects identified to date on the Nachingwea Project. A program of pitting to reach fresh samples of graphite mineralisation has already commenced at the prospect to help refine drilling targets.

==> picture [467 x 331] intentionally omitted <==

Figure 4 EM Survey Results at the Masasi Prospect

Drilling Program

As confirmed on the 6 October 2015, the Company’s maiden drilling program is now under way. Drilling is continuing on site at Chiwata and results will be released as they come to hand. The drilling will initially target surface outcropping mineralisation, where exceptional metallurgical results have already been received. As announced on the 13 August 2015, results showed preliminary results of high grade, large and jumbo flake size graphite mineralisation.

Nachingwea Project Summary

The project area is located in the south east of Tanzania, which is becoming a significant new province for large tonnage, coarse flake graphite deposits with a number of JORC compliant resources now announced by graphite explorers in the region. The Nachingwea project is located approximately 60km south of ASX listed Magnis Resources’ Nachu Project (ASX: MNS). Graphite mineralisation in the province typically occurs in stratigraphic layers of graphitic schist, within a package of high pressure/temperature metamorphic rocks that make up the Mozambique Mobile Belt. The coarse flake graphite seen in this area is consistently showing large to jumbo flake graphite, which will be targeted by Mozambi Resources.

For and on behalf of Mozambi Resources Limited

==> picture [115 x 73] intentionally omitted <==

Alan Armstrong Mozambi Resources Ltd Managing Director

Competent Person

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Matt Bull, a Competent Person who is a member of Australian Institute of Geoscientists. Mr Bull is a Director of Mozambi Resources. Mr Bull has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Matt Bull consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.