4 May 2016

The Manager

Market Announcements Office ASX Ltd

4th Floor, 20 Bridge Street SYDNEY, NSW 2000

Dear Sir

Dear Sir

NEW ISSUE OF SECURITIES

BUREY GOLD LIMITED

Level 2, Suite 9

389 Oxford Street Mt Hawthorn WA 6016

Australia

P. +61 8 9381 2299

F. +61 8 9380 6761

A.B.N. 14 113 517 203

Burey Gold Limited (ASX: BYR) refers to its announcement made on 18 April 2016 for the issue of 119,477,739 shares at an issue price of $0.028 each to raise $3.35 million and confirms completion of the private placement.

An Appendix 3B is attached with respect to the new securities issue and the Company gives notice that:

• it issued the securities without disclosure to investors under Part 6D.2 of the Corporations Act 2001 ("Act");

• this notice is being given under section 708A(5)(e) of the Act;

• as at today's date, the Company has complied with:

• the provisions of Chapter 2M of the Act as they apply to the Company; and

• section 674 of the Act; and

• as at today's date there is no other information that is excluded information which is required to be set out in this notice pursuant to section 708A(6)(e) of the Act.

Yours faithfully

Susmit Shah Director

Appendix 3B

New issue announcement,

rRule 2.7, 3.10.3, 3.10.4, 3.10.5

application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

BUREY GOLD LIMITED

ABN

14 113 517 203

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

Ordinary shares

1 +Class of +securities issued or to be issued

119,477,739

1. Number of +securities issued or to be issued (if known) or maximum number which may be issued

   Ordinary fully paid shares

2. Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if

   +convertible securities, the conversion price and dates for conversion)

   Yes, same class as quoted shares (BYR)

3. Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?

   If the additional +securities do not rank equally, please state:

   the date from which they do

   the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

   the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

   $0.028 per share

4. Issue price or consideration

   To provide funding for exploration activity at the Giro Gold Project in the Democratic Republic of Congo and for general working capital.

5. Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Yes

6a Is the entity an+eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

27 November 2015

6b The date the security holder resolution under rule 7.1A was passed

Nil

6c Number of +securities issued without security holder approval under rule 7.1

19,477,739 (*see note below)

6d Number of +securities issued with security holder approval under rule 7.1A

100,000,000 shares issued under the 100m share placement facility approved at the shareholder meeting on 24 March 2016.

6eNumber of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

Nil

6f Number of +securities issued under an exception in rule 7.2

Yes.

Issue date - 4 May 2016 Issue price - $0.028

15 day VWAP preceding issue date (source: IRESS) - $0.028

6g If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the

+issue date and both values. Include the source of the VWAP calculation.

N/A

6hIf +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

*Information required by LR 3.10.5A - (i) 119,477,739 shares issued to some existing shareholders under the placement. Their pre-issue interest was 2.97% and post issue interest is 15%. Consequently non-participating holders' interest has diluted from 97.03% to 85% ; (ii) Directors believe that the issue price at which the placement has been completed is superior to pricing that may have worked for a pro-rata issue and hence has delivered a better overall result for the Company; (iii) private placement is subject to a 6% commission fee.

Refer attached Annexure 1

6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

4 May 2016

7 +Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

8 Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable)

1. Number and +class of all +securities not quoted on ASX (including the +securities in section 2 if applicable)

   Same entitlement to dividends as existing shares

2. Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

   Part 2 -Pro rata issue Not Applicable

3. Is security holder approval required?

4. Is the issue renounceable or non- renounceable?

5. Ratio in which the +securities will be offered