A.B.N. 52 007 626 575

28th July 2016

The Manager

Company Announcements Australian Stock Exchange Level 10, 20 Bond Street

SYDNEY NSW 2000

UPDATE OF PROGRAMS VICTORIA

QUARTERLY REPORT TO 30 June 2016

EL006303 Eildon JRV (Antimony-Gold Project)

Jervois has applied for Exploration Licence 006303 (Eildon JRV) covering approximately 300 sq km south of the town of Eildon, Victoria. The focus of exploration will be antimony and gold. Areas of this tenement were previously held by BHP and CRA respectively. The application has been accepted by the Department of Economic Development, Jobs, Transport & Resources (Victoria) and information and maps have been placed in the form of advertisements in Herald Sun on June 29, Mansfield Courier on July 6 and the Mountain View Mail on July 5, 2016. A copy of the advertisement is also in the News Section of the Jervois website: http://jervoismining.com.au/

The Company is awaiting confirmation of securing the Exploration Licence and will advise shareholders when this happens. Initial exploration of this area is anticipated to commence in January 2017.

METALLURGY

EL006303 Eildon JRV (Antimony-Gold Project) - Preliminary Characterisation Tests

China is the world leader in the production of antimony; reaching 110,000 t in 2010. Antimony is mainly used for making alloys with lead for lead-antimony plates in lead-acid batteries. The other uses for antimony are in the manufacture of solders and additives for chlorine and bromine-containing fire retardants. The price of antimony is often quoted in Chinese Yuan (RMB). In April 2016, a metric ton of F.O.B stibnite concentrate of 50-60% purity was worth 26,000 RMB (Au$5,198) and antimony oxide (99.8% purity) 34,000 RMB (Au $6,797). http://www.metal.com/metals/productinfo/201308090008 ).

At Eildon, antimony occurs in the form of narrow veins and veinlets. Securing this prospect will be exciting news for the shareholders as in addition to antimony the veins also contain gold. In Australia, it is not uncommon to find significant amounts of gold in association with antimony ores (Refer to Table 1. Schedule of Assays)

The Eildon deposit occurs in the monzogranite ring dyke of the Cerberean Volcanic Complex. The primary target will be a narrow (

advantageously by Jervois from previous holders, show that a zone about 5 m wide (downhole) contains gold to about 1.1 g/t. There is potential for a larger gold deposit either along strike or at depth.

Figure 1. General appearance of antimony mineralization in two samples.

Nine (9) hand-sorted samples, collected from the prospective area, were submitted for XRF and fire assay gold analyses to determine whether gold is enclosed in the ore minerals, antimony sulphide (Sb2S3) and/or antimony oxide (Sb2O3) mineral phases, and/or as free gold in quartz. These samples were made available to Jervois Mining by the previous holder who collected the samples during their exploration of the tenement.

Initial assays from these samples are shown in Table 1 below.

Table 1. Schedule of assays on samples from EL 006303 obtained from a previous holder.

Characterisation studies employing x-ray diffraction (XRD) on a sample showed the presence of stibnite (antimony sulphide) and senarmontite, valentinite and stibiconite as major antimony oxide minerals. The XRD pattern of this sample is shown below.

Figure 2. X-ray diffraction pattern to show the mineralogical constitution of the Eildon sample. Note that this sample also contains approximately 15% non-crystalline minerals possibly clay minerals.

A chemical composition of the same sample is shown in Table 2 below. This data show the analysed sample consisted of 75.7% silica, 11.45% antimony, 2.62% sulphur, 2.39g/t gold and lesser amounts of other elements. Recalculations on sulphur and antimony grades suggest that this particular sample would contain approximately 9.3% antimony sulphide and 5.7% antimony oxide. The gold grade is expected to increase once the barren rock is removed by metallurgical treatment.

Table 2. Chemical composition of a target sample from EL006303 Eildon JRV

Initial steps are taken to make clean concentrates of antimony sulphide and antimony oxide by applying simple methods like gravity concentration and flotation. A bulk sample weighing approximately 7 kg has been prepared and shipped to a commercial lab in South Australia for flotation and gravity concentration tests.

Map 1. Map of EL006303 Eildon JRV showing area applied for.

UPDATE OF PROGRAMS NSW

SYERSTON SCANDIUM PROJECT (near Fifield NSW)

Exploration Licence 7805

There has been an approach from various groups for a Joint Venture or outright purchase of this resource. Thus far offers are not quite attractive enough but a positive outcome is still possible.

The next exploration on this tenement will be a surface sampling program in the northern units to relocate and evaluate the viability of an alluvial copper and gold show. A surface sampling and mapping program for these units on the Exploration Licence is planned for late September 2016.

As outlined in the Jervois September 2015 Quarterly Report a calculated Measured Resource for scandium on EL7805 was completed and released to the ASX on the 19th August 2015.

Calculated Measured Resource: 2,675,000 [email protected] Sc. Calculated Indicated Resource: 468,000 tonnes @426ppm Sc. Calculated Total Resource: 3,143,000 [email protected] Sc.

Total Contained Scandium Metal: 1,363 tonnes.