XREF LIMITED — Capital/Financing Update 2014

Nov 16, 2014

==> picture [98 x 54] intentionally omitted <==

King Solomon Mines Limited

ARBN 122 404 666 242 Marine Parade Otaki 5512, New Zealand Office (within Australia): 1 800 061 569 (outside Australia): +64 6 364 8462 Fax: +64 6 364 8497 enquiries@kingsolomonmines.com www.kingsolomonmines.com

17 November 2014

Company Announcements Office Australian Securities Exchange

Underwritten Renounceable Rights Issue

The Offer Closing Date for the King Solomon Mines Limited Renounceable Rights Issue, pursuant to which a maximum of 459,594,209 new fully paid ordinary shares may be issued on the basis of three new shares for every two shares held by shareholders at an issue price of A$0.002 per share, was 12 November 2014. There were 120,125,848 shares applied for under the Rights Issue and the amount subscribed was A$240,251.70. The Shortfall was therefore 339,468,361 shares or A$678,936.72. The Company will make an announcement concerning the placement of the Shortfall through the Underwriter in due course.

Yours sincerely

King Solomon Mines Limited

==> picture [137 x 53] intentionally omitted <==

Stephen McPhail

Managing Director