Competent Persons Statement - August 2016

The information on this website that relates to Exploration Results is based on information compiled by Dr Leon Pretorius. Dr Pretorius is the Executive Chairman of TopTung Ltd and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) (CP) and a Member of the Australian Institute of Geoscientists (MAIG). Dr Pretorius has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activities, which he is undertaking. This qualifies Dr Pretorius as a “Competent Person” as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012). Dr Pretorius consents to the inclusion of information on this website in the form and context in which it appears. Dr Pretorius holds shares in TopTung Ltd.

The information on this website that relates to metallurgical testwork for the Torrington Project is being conducted under the supervision of Dr Leon Pretorius. Dr Pretorius is the Executive Chairman of TopTung Ltd and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) (CP) and a Member of the Australian Institute of Geoscientists (MAIG). Dr Pretorius has sufficient experience which is relevant to the type of beneficiation plant under consideration and to the activities being undertaken. This qualifies Dr Pretorius as a “Competent Person” as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012).  Dr Pretorius consents to the inclusion on this website of the matters based on the information in the form and context in which it appears.

The information on this website that relates to the Torrington Project Exploration Targets and Mineral Resources was prepared by Mr Gordon Saul. Mr Saul is a full time employee of Resolve Geo Pty Ltd a company that was engaged by TopTung Limited to prepare the documentation for the Torrington tungsten and topaz deposits on which its JORC Code 2012 report is based. Mr Saul is a Member of the Australian Institute of Geoscientists (MAIG) and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activities, which he is undertaking. This qualifies Mr Saul as a “Competent Person” as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012). Mr Saul consents to the inclusion of information on this website in the form and context in which it appears. Resolve Geo Pty Ltd is a major shareholder (14.9%) of TopTung Limited.

Review of Material Changes

The Company and Mr Saul confirm that they reviewed the Company’s JORC 2012 Mineral Resource Estimate as presented in this report on 2 September 2016 and are not aware of any new information or data that materially affects the original ‘Mineral Resource Update’ ASX announcement of 12 August 2015 and, in the case of estimates that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in that announcement continue to apply and have not materially changed as at 30 June 2016. The Company and Mr Saul also confirm that the form and context in which the Competent Person’s findings are presented have not materially changed from the original announcement.