VOLT RESOURCES LIMITED — Capital/Financing Update 2018

Sep 27, 2018

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ASX ANNOUNCEMENT

By e-lodgement 28 September 2018

Bunyu Project Mining Licence Applications Advanced

Tanzanian-focused flake graphite developer Volt Resources Limited ( ASX: VRC ) (“ Volt ” or “ the Company ”) is pleased to advise that the two Mining License Applications (“MLA”) for the Company’s Bunyu Graphite Project have been recommended for approval within the Tanzanian Ministry of Minerals online Cadastral system.

As previously advised (see ASX announcement dated 8 February 2018), Volt has lodged two MLA’s with the Ministry of Minerals of Tanzania which covers the footprint for both the Stage 1 and 2 developments at the Bunyu Graphite Project.

This recommendation represents an encouraging step forward in the MLA approval process, however this status change does not constitute final approval and receipt of the ML’s. Further updates on the ML approval process will be provided to shareholders in due course.

Tanzanian Note Issue Prospectus Update

Volt continues to advance the US$40 million Note Issue, for which an updated Prospectus was lodged with the Tanzanian Capital Markets and Securities Authority (“CMSA”) and the Dar es Salaam Stock Exchange (“DSE”) on August 17, 2018. Correspondence with the CMSA has been ongoing and positive with the Company preparing to lodge a further update of the Prospectus and associated documents. Volt is satisfied with the recent progress in relation to regulatory approval of the Prospectus with a conclusion expected in the near future.

-ENDS-

For and on behalf of Volt Resources Limited

Trevor Matthews Chief Executive Officer

For further information please contact:

Trevor Matthews Released through Sam Burns Chief Executive Officer Six Degrees Investor Relations Tel: +61 8 9486 7788 M: +61 400 164 067

Volt Resources Limited ACN 106 353 253 Level 5, London House 216 St. Georges Terrace Perth WA 6000 Phone: +61 (8) 9486 7788

Follow us on Twitter @ASXVolt

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About Volt Resources Limited

Volt Resources Limited (“Volt”) is a graphite exploration and development company listed on the Australian Stock Exchange under the ASX code VRC. Volt is currently focused on the exploration and development of its wholly-owned Bunyu Graphite Project in Tanzania. The Bunyu Graphite Project is ideally located near to critical infrastructure with sealed roads running through the project area and ready access to the deep-water port of Mtwara 140km away.

In July 2018, Volt reported the completion of the Feasibility Study (“FS”) into the Stage 1 development of the Bunyu Graphite Project. The Stage 1 development is based on a mining and processing plant annual throughput rate of 400,000 tonnes of ore to produce on average 23,700tpa of graphite products[1] . A key objective of the Stage 1 development is to establish infrastructure and market position in support of the development of the significantly larger Stage 2 expansion project at Bunyu.

1 Refer to Volt’s ASX announcement titled “Positive Stage 1 Feasibility Study Bunyu Graphite Project” dated 31 July 2018. The Company confirms that it is not aware of any new information or data that materially affects the information included in this document and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

Volt Resources Limited ACN 106 353 253 Level 5, London House 216 St. Georges Terrace Perth WA 6000 Phone: +61 (8) 9486 7788