Heemskirk Consolidated : NSC Takeover Offer - Withdrawal Rights

HEEMSKIRK

Announcement

12 April 2017

Northern Silica Corporation Takeover Offer - Withdrawal Rights

Heemskirk Consolidated Limited

ASX: HSK

ABN 18 106 720 138

Shares on issue:

562,635,912

Unquoted securities:

Options: 6,304,860

Employee shares: 1,461,808 Partly paid (to 1c, 24c unpaid): 100,000

Partly paid (to 1c, 49c unpaid): 1,500,000

Level 17

303 Collins Street

Melbourne Victoria 3000 Australia

Telephone: [phone]

Facsimile: [phone] Email: [e-mail]

This information is available on our website at www.heemskirk.com

Heemskirk Consolidated Limited ("Heemskirk") refers to the First Supplementary Target's Statement that was released to the ASX on 12 April 2017 attaching a revised Independent Expert's Report in relation to the bid made for all of the shares in Heemskirk by Northern Silica Corporation ("NSC").

NSC has informed Heemskirk that it has determined, given the new information that was disclosed in the revised Independent Expert's Report, that subject to receiving necessary ASIC relief, it will offer all Heemskirk Shareholders who accepted the bid before 7.00pm on

12 April 2017 the right to withdraw their acceptance or switch their elected consideration by no later than 7.00pm on 5 May 2017. NSC intends to lodge a Supplementary Bidder's Statement in relation to these withdrawal rights tomorrow.

For further information, please contact:

Craig Jensz

Managing Director, Lion Capital Advisory

[phone] or [e-mail]