ASX Release ASX code: MAU 7 September 2017 COMPLETION OF PLACEMENT

Level 1 44A Kings Park Road West Perth WA 6005

PO Box1388

West PerthWA 6872

Telephone 08 9226 1777 www.magres.com.au

ABN34 121 370 232

Magnetic Resources NL (Magnetic or the Company) wishes to announce the issue of shares pursuant to the Company's placement announcement dated 29 August 2017, with the Company accepting subscriptions raising a total of $757,050 at $0.115 per share.

The shares will be issued in 2 tranches, with 5,278,696 new shares issued under this notice to sophisticated investors and a further 1,304,348 shares to be issued to related parties including Non-Executive Chairman, Mr Eric Lim, subject to shareholder approval at a meeting to be called.

The placement under this tranche has been conducted within the Company's 15% placement capacity.

The funds will be used for ongoing exploration at the Hawks Nest, Mertondale and Christmas Well projects, with an aggressive exploration programme planned for the coming financial year.

An Appendix 3B will follow.

For more information on the company visit www.magres.com.au or contact

George Sakalidis

Managing Director Phone (08) 9226 1777

Mobile 0411 640 337

Email george@magres.com.au

Magnetic Resources NL published this content on 07 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 07 September 2017 12:22:08 UTC.

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