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ASX/Media Announcement

Perth: 12 August 2016

ASX: PLP

Platypus Minerals Appoints Chief Executive Officer

• Mr Joe Walsh, mining executive with over 25 years of industry experience, will join Platypus Minerals Ltd as Chief Executive Officer by 7 November 2016

• Based in Brisbane, Australia, Mr Walsh will lead Platypus in its strategy to become a lithium producer by exploring for lithium minerals and by developing operations using the L-Max® process

Platypus Minerals Ltd ("Platypus" or "the Company") is pleased to announce the appointment of Mr Julian "Joe" Walsh as Chief Executive Officer. Joe Walsh is a resources industry executive and mining engineer with over 25 years of experience. He served as General Manager Corporate Development with PanAust Ltd for 12 years and was instrumental in the evolution of PanAust from an explorer in 2004 to a plus US$2 billion, S&P/ASX Top 100 Index, multi-mine copper and gold company with a portfolio of development assets in Asia, the Pacific and South America. Prior to this Mr Walsh spent 10 years working for investment banks in Australia, Canada and the UK, focused on equity capital markets and the technical and economic evaluation of numerous mining assets and companies around the world. Mr Walsh holds a B.Eng Mining Engineering from the Camborne School of Mines and an MSc in Exploration Geophysics from the Royal School of Mines, London.

Mr Walsh has already helped Platypus develop a strategy that will see it transition from a mineral explorer to mine developer and lithium producer by 2019. This will be achieved via the delineation of lithium Mineral Resources at Platypus's projects and joint ventures, currently in Australia, Canada and South America, coupled with the successful development of mining and processing operations using its proprietary L-Max® process.

Platypus Chairman Gary Johnson said: "We are pleased to be able to attract a CEO of the calibre of Joe Walsh. He is an industry professional with a demonstrated track record in transitioning listed companies from explorer to producer. He will provide the leadership and industry experience that Platypus requires to develop its project portfolio and achieve commercial production of lithium chemical in the near term."

About Platypus Minerals Ltd

Platypus Minerals Ltd is an ASX-listed Company focused on exploration, development and production of lithium. Its current exploration assets include options over the Lemare and the Royal projects, both in Quebec, Canada where drilling activities will commence this quarter; ownership of the Euriowie project near Broken Hill in New South Wales; and joint venture agreements with ASX- listed Crusader Resources (ASX:CAS) in Brazil and Latin Resources (ASX:LRS) in Peru and Argentina to jointly evaluate lithium opportunities. Through its wholly-owned subsidiary Lepidico Ltd, Platypus also owns the technology to a metallurgical process that has successfully produced lithium carbonate from non-conventional sources, specifically lithium-rich mica minerals including lepidolite and zinnwaldite. The L-Max® process has the potential to disrupt the lithium market by providing additional lithium supply from alternative sources.

For further Information, please contact:

Gary Johnson Chairman

+61 418 907 283

Tom Dukovcic Managing Director

+61 8 9363 7800