7 October 2015

Capital Raising Price

Pursuant to Minerals Corporation Limited's proposed acquisition of Megastar Millionaire Pty Ltd, details of which have been previously announced on 30 April 2015, 2June 2015, 3 August 2015 and 5 August 2015, the Company will be seeking approval at its general meeting scheduled for 7 October 2015 to undertake a capital raising with shares to be issued at a price that is the higher of $0.06 or a 20% discount to the 10-day volume weighted average price for shares calculated over the last 10 days on which sales in shares were recorded before shareholder approval of all of the resolutions contained in the Notice of Meeting announced on 4 September 2015 ( Raising Price ).

The Company was granted a waiver by ASX from ASX Listing Rule 2.1 condition 2 to the extent necessary to permit the Raising Price not to be at least $0.20, subject to shareholder approval of the Raising Price formula as part of the approvals to be obtained under ASX Listing Rule 11.1.2 for the Megastar Millionaire acquisition and the Company announcing to the market the price at which the shares to be issued under the capital raising will be issued by no later than the day before the shareholder meeting is held.

In accordance with the waiver granted by ASX from ASX Listing Rule 2.1 condition 2, the Company advises that the Raising Price is $0.06.

Contact

Matthew Foy

Non Executive Director T: +61 (08) 9486 4036

W: http://mineralscorp.com.au/