9788d24d-8523-424f-b756-bc91f4ebad81.pdf ASX/MEDIA RELEASE

FOR RELEASE 30 May 2016

PROPOSED AWARD OF OPTIONS

Magnis Resources Limited (ASX:MNS) ("Magnis" or the "Company") advises it has conducted a review of the Board and Senior Management remuneration. This was undertaken by the remuneration committee, and has highlighted a relatively low level of share-based incentives to Directors.

Non-cash remuneration is expected to play an important part in attracting and retaining high calibre Board members and Senior Management. This is particularly relevant in a competitive global industry for talent, and as the Company enters the development phase of the Nachu graphite project in Tanzania.

To address the current remuneration structure, the Company will be recommending to shareholders that they approve, at the Company's next general meeting, the award of 1 million options to each Board member. The options will have a three year term and a strike price of 70 cents, at no cost, in accordance with the terms and conditions of the Magnis Incentive Option Plan.

The Board maintains its policy of minimising cash expenditure on overheads, in favour of exploration and the progression of the Nachu project. This policy has resulted in significant value accretion for shareholders.

Frank Poullas Chairman

Magnis Resources Limited

+61 (0)2 8397 9888

Magnis Resources Ltd. published this content on 04 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 July 2016 03:20:01 UTC.

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