KBL Mining : Notification of further extension of convening period

(Administrators Appointed) (Receivers and Managers Appointed)

Level 3, 2 Elizabeth Plaza, NORTH SYDNEY NSW 2060 PO Box 98, NORTH SYDNEY NSW 2059

Phone:[phone]

Fax: [phone]

Website: www.kblmining.com.au

ACN 129 954 365

24 November 2016 NOTIFICATION OF EXTENSION OF CONVENING PERIOD

Sydney New South Wales: KBL Mining Ltd (Administrators Appointed) (Receivers and Managers Appointed) ("KBL" or "Company") (ASX: KBL) wishes to advise that on 24 November 2016, with the approval of the Committee of Creditors, the Administrators have sought and obtained further orders from Master Sanderson in the Supreme Court of Western Australia for a further extension of the convening period with respect to the Company from 30 November 2016 to 16 January 2016, pursuant to section 439A(6) of the Corporations Act 2001 (Cth.) ("the Second Orders"). The Second Orders provide the Administrators sufficient time to finalise their investigations and form a view as to potential returns to creditors through liquidation, and to allow the Receivers and Administrators sufficient time to receive and consider binding proposals to restructure and recapitalise the Company. The effect of the Second Orders is that the second meeting of creditors of the Company ("the Second Meeting") may now be convened at any time up to 16 January 2017. Notwithstanding the extension, the Administrators intend to finalise negotiations and call and hold the Second Meeting as soon as is practicable. We advise that the Orders grant liberty to any person who can demonstrate sufficient interest, including any creditor of the Company or the Australian Securities and Investments Commission, to apply to the court to modify or discharge the Orders. The Orders are currently being extracted, and will be available upon request from this office in due course. Should you require any further information with respect to the above, please contact the Administrators via [e-mail] and continue to refer to ASX announcements for any further updates. Matthew Woods Joint & Several Voluntary Administrator

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