Saracen Mineral : Retail Entitlement Offer Open

Saracen Mineral Holdings Limited

RETAIL ENTITLEMENT OFFER OPEN

OFFER DOCUMENTS DESPATCHED

Not for release to US wire services or distribution in the United States

25th November 2019

Further to the announcements on Monday, 18 November 2019 and Wednesday, 20 November 2019, Saracen Mineral Holdings Limited ACN 009 215 347 (ASX: SAR) ("Saracen") wishes to confirm that it has today launched the retail component of its underwritten non-renounceable pro rata entitlement offer ("Retail Entitlement Offer").

The Retail Offer Booklet and Entitlement Offer and Acceptance Form have been sent to eligible retail shareholders who are invited to participate in the Retail Entitlement Offer.

The Retail Entitlement Offer opens today, Monday, 25 November 2019, and closes at 5.00pm (Sydney time) on Friday, 6 December 2019.

The Retail Offer Booklet was released to ASX on Wednesday, 20 November 2019. Saracen also advises that eligible retail shareholders can access the Retail Offer Booklet and their personalised Entitlement and Acceptance Form through Saracen's website via the following link https://saracen2019offer.thereachagency.com.

If you have any questions in relation to any of the above matters, please call the Saracen Offer Information Line on 1300 140 292 (within Australia) or + 61 3 9415 4285 (outside Australia) from 8.30am to 5.00pm (Sydney time) Monday to Friday. For other questions, you should contact your stockbroker, accountant, taxation advisor, financial adviser or other professional adviser.

Investors:

Troy Irvin

Corporate Development Officer

Morgan Ball

Chief Financial Officer

Email: [e-mail]

Contact [phone]

Media Enquiries:

Read Corporate

Paul Armstrong / Nicholas Read Email: [e-mail] Contact: [phone]

Not for release or distribution in the United States

This announcement has been prepared for publication in Australia and may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 (the "US Securities Act") or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.