ASX Announcement

13 May 2016

Gorno Zinc Project Update

Further high grade drilling results from Zorzone and new massive zinc sulphide zone discovered on 600 level

Figure 1: New semi-massive sphalerite zone on 600 level to the east of Colonna Zorzone

• Latest intercepts from within Inferred Resource at Zorzone include:

  • 4.6m at 25.6% zinc, 4.7% lead and 71g/t silver including 1.8m at 50.7% zinc, 9.1% lead and 135g/t silver in GDD071

  • 11.4m at 6.5% zinc, 2.0% lead and 25g/t silver in GDD068

• Exploration Decline advanced to 120m with first planned drill cuddy anticipated to be ready for drillout of the Inferred Resource between the 850 level and the 600 level by the end of June 2016.

• New zone of massive zinc sulphide discovered on the 600 level, approximately two kilometres to the east of Zorzone (see photograph above).

ASX Code EMX

ABN 63 078 510 988

PO Box 1785

West Perth WA 6872

Level 2, 20 Kings Park Road West Perth WA 6005

T: +61 8 9321 5000

F: +61 8 9321 7177

E: [email protected]

W: www.energiaminerals.com

Board of Directors Alexander Burns Executive Chairman

Kim Robinson Managing Director

Max Cozijn Finance Director

Marcello Cardaci

Non-Executive Director

Company Secretary

Jamie Armes

Energia Minerals Ltd (ASX: EMX, "Energia" or Company) is pleased to provide an update on its 100%- owned Gorno Zinc Project in northern Italy, where exploration continues to expand the potential of the Company's flagship Colonna Zorzone Deposit as well as the broader Gorno region.

Ongoing drilling at Colonna Zorzone continues to deliver impressive results with Diamond drill hole GDD071 returning a 4.6m intersection grading 25.6% zinc, 4.7% lead and 71g/t silver. This intersection, together with GDD068 (11.4m grading 6.5% zinc, 2.0% lead and 25g/t silver) within an interpreted lower grade section of the Inferred Resource of 2.9Mt grading 5.8% zinc,1.5% lead and 23g/t silver, highlights the potential for the Inferred Resource to increase in grade with infill drilling.

Drilling is continuing within the upper levels of the Colonna Zorzone resource with the primary objective of elevating the Inferred Resource in this area to Indicated status. This is being carried out utilising one Diamond drilling rig including recently completed GDD082 for which assays are awaited (see Figure 2 below). The drilling will intensify when a second drilling rig is remobilised in June when the Exploration Decline reaches its first drilling location.

Figure 2: Thirteen metre intersection in GDD082 containing abundant massive zinc sulphides

Another very significant development for the Company has been the discovery of a strongly mineralised zone on the 600 level. This mineralisation is accessed from a northern drive off the Riso Parina adit completed by the previous owners ENI during the 1980's, approximately two kilometres to the east of Colonna Zorzone. Minimal exploration was carried out by ENI with a single drive through the mineralised zone (see Figures 1 and 3) with no drilling to the south, only six holes completed to the north and remaining open in both directions. Five of these exploration drillholes are known to be mineralised but no assays have been located to date and additional Diamond drilling of this zone is planned to be carried out as soon as access along the Riso Parina adit is established as part of any future mine development.

Figure 3: Gorno Project Plan View showing position of newly discovered mineralised zone

Energia's Managing Director, Mr Kim Robinson, said this new discovery was an exciting development for Energia in that it highlights the upside potential of the Company's exploration targets.

"If future drilling of this zone, which lies close to the anticipated main haulage route from Zorzone to the possible treatment plant site at Gorno, defines a significant resource then it can be factored into a revised mining plan." he said.

For and on behalf of Energia Minerals Limited.

Kim Robinson Managing Director

+61 8 9321 5000

[email protected]

For media enquiries contact: Nicholas Read

Read Corporate

+61 8 9388 1474

[email protected]

Competent Person Statement

Information in this release that relates to Exploration Results is based on information prepared by Mr David Andreazza and Mr Kim Robinson who are both Competent Persons and Members of the Australian Institute of Geoscientists. Mr Andreazza and Mr Robinson are full-time employees of Energia Minerals Limited. Mr Andreazza and Mr Robinson have sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities 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". Mr Andreazza and Mr Robinson consent to the inclusion in this release of the matters based on their information in the form and context in which it appears.

Figure 4: Colonna Zorzone showing recent and planned drilling