Niuminco Group Limited

Suite 50, 14 Narabang Way, Austlink Corporate Centre, Belrose NSW 2085 Australia Tel: (02) 9450 0828 Fax: (02)9450 0877 Email: [email protected]

ABN 44 009 163 919

16 September, 2016

Companies Announcement Office Australian Securities Exchange Exchange Square

20 Bridge Street

SYDNEY NSW 2000

UNDERWRITTEN SHARE PURCHASE PLAN

Niuminco Group Limited (ASX: NIU) (Niuminco or the Company) is pleased to offer eligible shareholders the opportunity to apply for new, fully paid ordinary shares (New Shares) in Niuminco under a Share Purchase Plan (the SPP).

The SPP is underwritten up to $750,000 by Patersons Securities Limited (Patersons) who are acting as Lead Manager and Underwriter to the offer.

The SPP provides the opportunity for shareholders to subscribe for up to $15,000 worth of New Shares without incurring brokerage or other transaction costs.

The issue price will be determined at the issue date of New Shares under the SPP based on a 20% discount to the volume weighted average price of Niuminco's shares traded on the ASX during the 5 days immediately prior to the issue date of the New Shares, and a price which is not less than 0.4¢ ($0.004).

Funds raised under the SPP will be used to

• Procure additional mining and processing infrastructure to increase production rates at Edie Creek;

• Fund accelerated exploration activities, in particular high-impact drilling campaigns, by the Company at both May River and Bolobip; and

• For general working capital.

The Directors have determined that offers under the SPP will be made to eligible shareholders, being those who are the registered holders of fully paid ordinary shares in the Company as at 7.00pm AEST on 15 September 2016 (Record Date), and whose address in the Company's register is situated in Australia, New Zealand or Papua New Guinea.

Managing Director of Niuminco, Mr Tracey Lake said:

"We look forward to lifting our ore processing throughput to over 40 tonnes per day and increasing gold production towards our targeted 200 ounces per month at Edie Creek.

Additionally, we can now accelerate our exploration programs at Bolobip and May River, and funds raised will be used to drill test these exciting targets.

I am also very pleased with the support shown by Patersons in fully underwriting the $750,000 of this issue."

The timetable is indicative only and subject to change. The Company reserves the right to change the timetable at any time or cancel the SPP at any time before the Allotment Date, subject to applicable regulatory requirements.

Full details of the SPP will be set out in a letter to shareholders, the SPP Booklet and Application Form for Eligible Shareholders (SPP Documents). A copy of the SPP Documents will also be lodged with ASX.

If you have any enquiries in relation to the SPP, please contact the Company secretary (details below).

Mark T Ohlsson Company Secretary

For further information, please contact: