ASX ANNOUNCEMENT 31 March 2016

Share Placement to Southern Cross Capital

Marmota Energy Limited (ASX: MEU) ("Marmota")

HIGHLIGHTS

• Marmota has accepted a $258,750 placement to Southern Cross Capital

Marmota Energy Limited (ASX: MEU) is pleased to advise that it has agreed to a placement of $258,750 from Southern Cross Capital Pty Ltd.

Marmota's Chairman, Dr Colin Rose, said:

" The Board of Marmota is delighted to welcome Southern Cross Capital as a cornerstone investor in Marmota. We look forward to them being involved with the Company as we ramp up our search for the next Challenger-style gold deposit in the region. "

Placement Details

The Placement of $258,750 (before costs and expenses of the Placement) consists of 17.25 million new shares issued at a price of 1.5 cents per share. The new shares issued will rank equally with all other fully paid ordinary shares on issue. The Company expects settlement of the Placement on or around 31 March 2016.

For further information, please contact:

Marmota Energy Limited

David Williams Managing Director Email: [email protected]

Unit 6

79-81 Brighton Road

Glenelg SA 5045

ABN: 38 119 270 816

T: (08) 8294 0899

F: (08) 8376 8633

www.marmotaenergy.com.au

About Marmota Energy Limited

Marmota Energy Limited (ASX: MEU) is a South Australian mining exploration company, focused on gold, copper and uranium. Gold exploration is centred on the Company's dominant tenement holding in the highly prospective and significantly underexplored Gawler Craton, near the Challenger gold mine, in the Woomera Prohibited Defence Area. The Company's cornerstone copper project is based at the Melton project on the Yorke Peninsula. The Company's largest uranium project is at Junction Dam adjacent to the Honeymoon mine.

For more information, please visit: www.marmotaenergy.com.au