MARKET RELEASE

2 May 2016

Falcon Minerals Limited

TRADING HALT

The securities of Falcon Minerals Limited (the "Company") will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Wednesday 4 May 2016 or when the announcement is released to the market.

Jill Hewitt

SENIOR ADVISER, LISTINGS COMPLIANCE (PERTH)

ASX Compliance Pty Limited

ABN 26 087 780 489

Level 40 Central Park

152-158 St Georges Terrace Perth WA 6000

www.asx.com.au Customer service 13 12 79

Phone:08 9224 0000

FRLCON

MINERHLS LIMITED

ABN 20 009 256 535

Unit 1, 245 Churchill Avenue

Subiaco WA 6008

PO Box 8319, Subiaco East WA 6008 Telephone : (08) 9382 1596

Facsimile : (08) 9382 4637

Email : [email protected] Website : falconminerals.com.au

2 May 2016

Ben Tippett,

Advisor, Listing Compliance ASX Compliance Pty Ltd Level 40, Central Park

152-158 St Georges Tenace Perth WA 6000

Dear Sir

REQUEST FOR TRADING HALT - FALCON MINERALS LIMITED

In accordance with ASX Listing Rule 17.1, Falcon Minerals Limited (ASX: FCN) requests an immediate trading halt, pending the release of an announcement in relation to an update on the acquisition of Albion 3D Investments Pty Ltd.

The Company requests that the trading halt be lifted on the earlier of the commencement of normal trading on Wednesday 4 May 2016 or when the anticipated announcement referred to above is released to the market.

The Company is not aware of any reason why the trading halt should not be granted, nor of any other information necessary to inform the market about the trading halt.

Should you have any queries or require clarification please call the office on (08) 9382 1596 or alternatively oll'my mobile on 0408095452.

Yours faithfully

Ron Smit Managing Director

Falcon Minerals Limited