ASX Release 2 August 2016

COMPLETION OF CAPITAL RAISING

Mantle Mining Corporation Limited (ASX: MNM) ('Mantle' or the 'Company') is pleased to announce that it has successfully completed the placement to sophisticated and professional investors, in accordance with the capital raising announced to the ASX on 26 July 2016.

A total of 90 million fully paid ordinary shares in the capital of the Company have been issued to investors at an issue price of $0.015 per share to raise a total of $1.35 million as per the attached Appendix 3B ("Placement"). A further 10,000,000 shares will be issued to raise an additional

$150,000 on the same terms and conditions as the Placement following shareholder approval at a general meeting of shareholders to be convened shortly.

The Placement was made to investors qualifying under Section 708 of the Corporations Act and the Company has used its existing issue capacity under Listing Rules 7.1 and 7.1A to complete the issue.

The Placement was strongly supported by both new investors and long-term advocates of the Company. The funds raised will provide further working capital to advance its key projects to production.

Disclosure under ASX Listing Rules 7.1A.4(b) and 3.10.5A

In accordance with ASX Listing Rules 7.1A.4(b) and 3.10.5A the Company makes the following disclosures in respect of the Placement:

1. The Company issued a total of 90,000,000 fully paid ordinary shares of which 89,618,438 shares were issued under Listing Rule 7.1A and the remaining shares were issued under the Company's 15% placement capacity under Listing Rule 7.1.

   The securities issued under Listing Rule 7.1A resulted in the following dilution to existing holders of ordinary securities:

   • Number of fully paid ordinary shares on issue prior to this issue of securities was 1,028,327,237;

   • Number of fully paid ordinary shares on issue following this issue of securities under LR7.1A was 1,117,945,675 (or 1,118,327,237 including shares issued under LR7.1 under the same Placement).

   • Percentage of voting dilution following this issue is 8.71% (or 8.75% including shares issued under LR7.1 under the same Placement).

2. The Company elected to undertake the Placement in preference to a pro-rata issue to existing shareholders as it offered superior certainty and timeliness with lower

   transaction costs and provided an opportunity to introduce new sophisticated and professional investors to Mantle's register.

3. No underwriting arrangements were entered into in connection with this Placement.

4. A fee of $5,000 was paid to a broker who introduced investors to participate in the Placement.

Secondary Trading Notice Pursuant To Section 708A(5)(E) of the Corporations Act 2001

The Company gives this notice pursuant to section 708A(5)(e) of the Act.

The Company advises that the Securities issued pursuant to the Placement without issued disclosure to investors under Part 6D.2 of the Act. The Company, as at the date of this notice, has complied with:

1. the provisions of Chapter 2M of the Act as they apply to the Company; and

2. section 674 of the Act.

   As at the date of this notice there is no information that is excluded information for the purposes of sections 708A(7) and (8) of the Act.

   Further information please contact:

   Bob Barraket Ian Kraemer

   Chairman Managing Director

   Mantle Mining Corporation Limited Mantle Mining Corporation Limited P: +61 2 8920 1344 P: +61 407 758 722

   About Mantle Mining:

   Mantle's strategic vision is to become the next mid-tier Australian Gold producer. The company is focussed on the acquisition and return to production of low cost gold mines at a time of strong gold prices. The strategy involves a portfolio approach, with two near term production gold mines already acquired in two of Australia's major gold fields.

   Mantle's Gold Projects Mantle's Morning Star Gold Mine

   The Norton Gold Mine is one of two flagship projects for Mantle and is projected to provide a strong foundation cash flow upon which to base substantial future growth.

   The Morning Star Gold Mine has, by historical production, displayed potential to deliver low cost, high grade gold production upon which to found major corporate expansion.

   Appendix 3B New issue announcement

   Appendix 3B

   Rule 2.7, 3.10.3, 3.10.4, 3.10.5

   New issue announcement, application for quotation of additional securities

   and agreement

   Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

   Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12

   Name of entity

   MANTLE MINING CORPORATION LIMITED

   ABN

   70 107 180 441

   We (the entity) give ASX the following information.

   Part 1 - All issues

   You must complete the relevant sections (attach sheets if there is not enough space).

   Fully Paid Ordinary Shares ("Shares")

   1 +Class of +securities issued or to be issued

   90,000,000 Shares

3. Number of +securities issued or to be issued (if known) or maximum number which may be issued

   Fully Paid Ordinary Shares

4. Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid

+securities, the amount outstanding

and due dates for payment; if

+convertible securities, the conversion price and dates for conversion)

+ See chapter 19 for defined terms.

01/08/2012 Appendix 3B Page 1