Terramin Australia : Non-Renounceable Rights Issue Results

ASX ANNOUNCEMENT

5 December 2019

Non-Renounceable Rights Issue Results

Terramin Australia Limited (ASX:TZN) (Terramin) advises that its pro rata non-renounceable rights issue of 1 share for every 3 shares held, at an issue price of $0.035 closed as scheduled on 2 December 2019 .

Terramin CEO Richard Taylor said of the result:

"The successful completion of the Rights Issue provides funding for Terramin through to the completion of the Bird in Hand Gold Project Feasibility Study in H1 next year and leaves us well placed for moving ahead with Tala Hamza after elections in Algeria this month. I would like to thank our shareholders for their continued support as we move into the next phase for both our major projects."

Terramin received applications for 246,961,349 new shares, resulting in a shortfall of 376,239,956 entitlements. Applications for entitlements received totaled $8,643,648 (before issue costs).

Major shareholder Asipac Group Pty Ltd, owning 33.18% of Terramin, underlined its continued support by taking up its full entitlement (~$7.2m), increasing their holding to 39.07% following allotment date. All Terramin Directors participated in the offer.

Under the terms of the Offer, eligible shareholders had the opportunity to apply for any new shares not taken up under the Offer (Shortfall Shares). Terramin Directors have exercised their discretion to accept all subscriptions for Shortfall Shares.

New shares associated with the acceptances are scheduled to be issued to shareholders on 9 December 2019. A summary of the shares to be allotted and the impact upon total securities on issue are as follows:

Description	Securities
Shares currently on issue	1,869,601,371
New Share entitlements applied for by Shareholders	246,786,797
Ineligible foreign shareholder (Nominee shares applied for)	174,552
Total Shares on issue following allotment of New shares	2,116,562,720

For more information on Terramin's Bird-in-Hand Project, Tala Hamza and project pipeline, please visit www.terramin.com.au. This announcement was authorised to be given to ASX by the directors of Terramin.

For further information, please contact:

Investor Relations	Media Enquiries
Richard Taylor	Mike O'Reilly
Chief Executive Officer	Media and Government Consulting
Terramin Australia Limited	O'Reilly Consulting
[phone]	+61	414 882 505
[e-mail]

Terramin Australia Ltd ACN 062 576 238

Unit 7 202-208 Glen Osmond Road Fullarton SA 5064 T [phone] F [phone] [e-mail] terramin.com.au