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Proven Mineralised Setting

Mahenge Liandu Graphite Project | June 2016

7

The Project consists of 2 tenements covering 29.9km²

and is well located in one of the two main graphite

rich regions of Tanzania

Numerous deposits have been located in the neighbouring

tenements including:

Kibaran Resources Limited (ASX:KNL)

Market Cap A$40M (

£

20M)

Resource 23Mt@9.4% TGC

Positive BFS completed Nov 2015

Off take agreements in place

Black Rock Mining Limited (ASX:BKT)

Market Cap A$13M (

£

7.5M)

Resource 131Mt@7.9% TGC

Positive Scoping completed

Other Major Tanzanian projects in the region include:

Magnis Resource (ASX: MNS)

Market Cap A$312M (

£

156M)

Resources 174Mt @5.4% TGC in March 2016

BFS completed with NPV US$ 1.69 Billion

Off take agreements in place

Volt Resources (ASX: VRC)

Market Cap A$74m (

£

37M)

Resource 214.4Mt @ 5.1% TCG

PFS underway