Citigold : 05 August 2016 Release - CTO Placement and Appendix 3B

ANNOUNCEMENT

Appendix 3B

05 August 2016: Brisbane, Australia - Citigold Corporation Limited ("Citigold" or "Company") (ASX:CTO) is pleased to announce it has approved the placement of 13,333,333 shares at 1.5 cents per share for $200,000. The placement is to be used by the Company as 'top-up' working capital.

The placement has been conducted with Citigold's residual placement capacity. The related appendix 3B are included below.

For further information contact:

Niall Nand - Company Secretary

Or visit the Company's website - www.citigold.com

Cautionary Note: This release may contain forward-looking statements that are based upon management's expectations and beliefs in regards to future events. These statements are subjected to risk and uncertainties that might be out of the control of Citigold Corporation Limited and may cause actual results to differ from the release. Citigold Corporation Limited takes no responsibility to make changes to these statements to reflect change of events or circumstances after the release

1

Citigold Corporation Limited - Update

Appendix 3B

New issue announcement

Appendix 3B

adfRule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities

and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

CITIGOLD CORPORATION LIMITED

ABN

30 060 397 177

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

Ordinary Shares

1 +Class of +securities issued or to be issued

13,333,333

1. Number of +securities issued or to be issued (if known) or maximum number which may be issued

2. Principal terms of the

   +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if

   +convertible securities, the conversion price and dates for conversion)

   + See chapter 19 for defined terms.

   Appendix 3B Page 2 04/03/2013

   Rank equally

3. Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?

   If the additional +securities do not rank equally, please state:

   • the date from which they do

   • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

   • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

     1.5 cents

4. Issue price or consideration

   Working Capital

5. Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

No

6a Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

-

6b The date the security holder resolution under rule 7.1A was passed

-

6c Number of +securities issued without security holder approval under rule 7.1

-

6d Number of +securities issued with security holder approval under rule 7.1A

+ See chapter 19 for defined terms.

04/03/2013 Appendix 3B Page 3

Appendix 3B

New issue announcement

-

6e Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

-

6f Number of +securities issued under an exception in rule 7.2

-

6g If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the

+issue date and both values.

Include the source of the VWAP calculation.

-

6h If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

(rule 7.1) 215,917,375

6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

05/08/2016

7 +Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

Number	+Class
1,785,921,386	ORD - fully paid

8 Number and +class of all

+securities quoted on ASX (including the +securities in section 2 if applicable)

+ See chapter 19 for defined terms.

Appendix 3B Page 4 04/03/2013