Magnis Resources : RAISES A$4M IN PLACEMENT

fa4f22b8f86d626c2931c8.pdf ASX/MEDIA RELEASE

FOR RELEASE

12 October 2015

PLACEMENT RAISES $4 MILLION

Magnis Resources Limited (ASX:MNS) ('Magnis' or the 'Company') has raised A$4.0 million via a placement of ordinary shares to sophisticated and institutional investors from Australia and overseas ('Placement'). The Company is encouraged by the strong support received for the Placement, which was oversubscribed.

The Placement consisted of 10,000,000 shares issued at A$0.40 per share. Funding will be used to further fast-track Nachu into production.

Chairman Frank Poullas commented: 'We are encouraged by the strong interest shown in our capital raising which was done at a slight discount to the previous closing price. The board and management team are focused on bringing Nachu into production and we are currently working closely with our partners to achieve this goal in a tight timeframe.'

Frank Poullas Chairman

Magnis Resources Limited

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