Blina Minerals NL 29th January 2016 Board:‌‌‌‌‌

David Porter (Executive Director)

Brett Fraser (Non-Executive Chairman)

Justin Virgin (Non-Executive Director)

Capital Structure:

2.54 Billion Shares

120 Million Options @ 0.17c exp 31/10/20

296 Million Options @ 0.17c exp 18/12/17

ASX Code: BDI‌‌

Quarterly Activities Report

• Blina signed a Binding Heads of Agreement to Farm into Andes Resources Limited Colombian Gold/Copper Project

• Project highlights include:

  • 8 discrete soil geochemical anomalies over combined 20km strike length

  • 10m spaced soil line sampling has reported high grade results across the Project including:

     90m @ 5.2g/t Au & 220 g/t Ag

     50m @ 3.5g/t Au

     60m @ 2.8g/t Au

    • 640m @ 1.3g/t Au (20m sample spacing)

       110m @ 1.1g/t Au

• $887,000 raised via a placement to sophisticated investors to fund due diligence and on ground exploration activities

Blina Minerals NL ("Blina", ASX: BDI) is pleased to announce the activities undertaken during the December 2015 quarter. The key milestone for Blina was the signing of a Binding Heads of Agreement to farm into Andes Resources Limited Colombian Gold/Copper Project ("Project"). Blina has the right to earn up to 50% equity in the Project via spending AU$5M over a 3 year period.‌

Through this transformational transaction, Blina has gained exposure to a significant gold/copper portfolio.

Andes Project Overview1

The Andes Project is located in central Colombia, 65km south west of Medellin with excellent access on sealed roads to the project area. Topography of the project area ranges between 1,500 and 3,000m ASL.

The size of the strategic land holding, 63,430Ha (634km2), makes it one of the largest Au/Cu land holdings in Colombia. The project is uniquely located at the Junction between the relatively unexplored world-class Middle Cauca and

Choco Porphyry Copper Belts (Figure 1).

Figure 1 : Andes Project Location and major deposits of Colombia

Regional Geology & Metallogenesis

Land utilisation in the vicinity of the project area consists of predominantly traditional coffee farms. The Project area is very-low security risk.

The geology of central Andes comprises a thick sequence of Cretaceous sediments with mid- Miocene granodiorite intrusives (Farallones Batholith), while the east hosts Late-Miocene porphyry intrusives. Mineralisation styles consists of high-grade steeply dipping Au-Ag quartz-carbonate sheeted vein, stockwork and breccia systems plus Au-Cu-Zn quartz- carbonate stockwork and disseminated diorite porphyries. ~40km of the Farallones contact, hosting deeper high grade Au/Ag sheeted vein, stockwork and breccia mineralisation occurs within the Project.

Over 70 artisanal gold mines are currently operating in an area of 20x5km within the Cretaceous sediments.

Notable mineral resources totalling in excess of 35Moz Au within 30km of the Project include:

Table 1 : Notable Mineral Resources Proximal to Project

1Sunward Resources, NI43-101 Report, Titiribi Project, September 2013

2Gran Colombia, NI43-101 Report, Marmato Project, June 2012 3Anglo Gold Ashanti, ASX Release, Quebradona, 3 November 2014 4Bellhaven, NI43-101 Report, La Mina, July 2012

5Seafield Resources, NI43-101 Report, Quinchia (Mira Flores Deposit April 2013 & Dosquebradas December 2011)

Recent Exploration

Recent exploration completed across the Project area comprises of:

• 50,000Ha of geophysical and Lidar surveys

• 13,093 stream, rock chip, adit and soil samples completed during 2014/15 (largest regional geochemical sampling campaign undertaken in Colombia in 2015)

• In excess of AU$2.5 million has been spent to date on exploration

  
  

  Approximately 10% of the Project area has been surfaced sampled to date. The exploration completed has resulted in the discovery of 8 substantial geochemical anomalies across a 22km by 5km area. Soil geochemistry grades of >100ppb Au cover an area of 2km2. Approximately 2% of the reported soil sample results (185 samples) have grades >1g/t Au with nine soil samples reporting >10g/t and peak soil values of up to 303.59g/t Au and 579g/t Ag.

  Significant 10m spaced soil line sample results include:

  
  

• 640m @ 1.3g/t Au (20m spaced soil line)

 90m @ 5.226g/t Au & 220g/t Ag

 50m @ 3.455g/t Au

 60m @ 2.79g/t Au

 110m @ 1.1g/t Au

Figure 2 : Andes Project concessions, prospects & neighbouring deposits