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1 AVZ Minerals Limited Quarterly Report for the Period Ending 30 June July 2016 Companies Announcements Office Australian Securities Exchange Level 6, 20 Bridge Street Sydney NSW 2000 The Board is pleased to provide the following report on activities to be read in conjunction with the Appendix 5B for the quarter ending 30 June Shareholder meeting A general meeting of shareholders was held on 2 June 2016 to ratify the following matters: Capital raising and corporate advisory mandate On 31 March 2016, the Company announced a mandate with GTT Ventures Pty Ltd (GTT), for the purpose of identifying new business opportunities, promotion of the Company and undertaking a capital raising (Mandate). GTT is a Perth based specialist corporate advisory firm with an extensive network of contacts in the mining and technology sectors. The Mandate provided for a placement of 73,000,000 shares at a price of 0.6 cents per share to raise $438,000 using the Company's existing capacity in accordance with Listing Rule 7.1 (Placement). The placement was completed on 13 April 2016 and the funds will be used for working capital, expenses of the issue and for the consideration of new business opportunities. Corporate Advisory and Company Promotion Services The Mandate provides for the provision of corporate advisory and company promotion services for a period of six months, with a focus on introducing and assisting in the promotion of new business opportunities. GTT will be paid a monthly retainer and in June 2016 the Company issued to GTT 35,000,000 unlisted options with an exercise price of 1.2 cents per share, with an expiry date of 30 September In addition, and subject to shareholder approval at the time of a corporate transaction, the Company has agreed to pay GTT a fee (Success Fee) of 5% of the value of the consideration amount for any transaction that is successfully introduced by GTT. The Success Fee will be satisfied by the issue of shares to GTT or its nominees at a deemed issue price equal to that of the corporate transaction. AVZ Minerals Limited ABN Level 1, 33 Ord Street, West Perth WA 6005 T F

2 AVZ Minerals Limited New Projects During the quarter the Company continued its efforts to secure a potentially largescale mineral project at the advanced exploration/evaluation phase. Mr Eckhof has identified a number of potential mineral project opportunities in Africa that the Company is pursuing. Negotiations with project stakeholders in respect of a promising gold project noted in the March 2016 quarterly report were unsuccessful. The Company has also reviewed a number of project opportunities introduced by GTT. The Company has sufficient funding to continue its Namibian exploration activities and proceed with new project opportunities. In addition to evaluating new mineral projects, the Board is also considering business opportunities in other sectors. Exploration projects Namibia Activities undertaken in Namibia during the period involved planning and pursuing the renewal of its exploration licences however 3 current licence applications were unsuccessful. For further information about AVZ is available at Information required under Listing Rule All projects are located in Namibia. List of current mining and exploration tenements: Project Tenement Interest Status Granted Tumba EPL % (renewal lodged) Himba EPL % Application EPL % Application EPL % Application Key EPL: Exploration Licence AVZ Minerals Limited ABN Level 1, 33 Ord Street, West Perth WA 6005 T F

3 Appendix 5B Mining exploration entity quarterly report Introdu ced 1 /7 /9 6. O rigin: Ap p endix 8. Am ended 1 /7 /9 7,1 /7 /9 8,3 0 /9 / ,0 1 /0 6 /1 0. Rule 5.3 N am e ofentity AVZ M IN ERALSLIM ITED ABN Qu arter ended ( cu rrent ) Ju ne Cons olidated s tatem ent ofcas h flow Cas h flow s related to op erating activ ities 1.1 Receip ts from p rodu ct s ales and related deb tors s Year to date Cu rrent (1 2 M onths ).2 Paym ents for (a) ex p loration & evalu ation (b ) develop m ent (c) p rodu ction (d) adm inis tration (1 ) (7 ) (3 ) (3 ).3 Dividends received.4 Interes t and other item s ofa s im ilar natu re received.5 Interes t and other cos ts offinance p aid.6 Incom e tax es p aid.7 O ther (net GST /FBT Activity) (5 ) (3 ) N et Op erating Cas h Flow s (7 3 ) (3 6 9 ) 1 u u 1 u Cas h flow s related to inv es ting activ ities.8 Paym ent for p rchas es of: (a) p ros p ects (b ) eq ity inves tm ents (c) other fix ed as s ets.9 Proceeds from s ale of: (a) p ros p ects (b ) eq ity inves tm ents (c) other fix ed as s ets.1 Loans to other entities.1 Loans rep aid b y other entities.1 O ther (p rovide details ifm aterial) N et inves ting cas h flow s Totalop erating and inves ting cas h flow s (carried forw ard) ( 7 3 ) (3 5 5 ) 3 0 /9 / Page 1

4 1.1 3 Totalop erating and inves ting cas h flow s (b rou ght forw ard) (7 3 ) (3 5 5 ) 1 4 u u Cas h flow s related to financing activ ities.1 Proceeds from is s es ofs hares,op tions,etc..1 Proceeds from s ale offorfeited s hares.1 Proceeds from b orrow ings.1 Rep aym ent ofb orrow ings.1 Dividends p aid.1 Cos ts ofis s ing s hares (3 ) (3 ).2 Proceeds from dep os it refu nded.2 Proceeds from ap p lication fu nds held in tru s t (2 ) N et financing cas h flow s N et increas e (decreas e)in cas h held u Cas h at b eginning ofq arter/year to date,7,9.2 Ex change rate adju s tm ents to item.2 (4 ) Cas h at end of 2, ,0 4 7 Paym ents to directors ofthe entity and as s ociates ofthe directors Paym ents to related entities ofthe entity and as s ociates ofthe related entities Cu rrent $A' Aggregate am ou nt ofp aym ents to the p arties inclu ded in item Aggregate am ou nt ofloans to the p arties inclu ded in item Ex p lanation neces s ary for an u nders tanding ofthe trans actions Paym ents to Directors (ex clu ding GST) Paym ent to directorrelated entity p lacem ent fee N oncas h financing and inv es ting activ ities 2.1 Details offinancing and inves ting trans actions w hich have had a m aterialeffect on cons olidated as s ets and liab ilities b u t did not involve cas h flow s N il 2.2 Details ofou tlays m ade b y other entities to es tab lis h or increas e their s hare in p rojects in w hich the rep orting entity has an interes t N il Page /9 /

5 Financing facilities av ailab le Add notes as necessary for an understanding of the position. u Am ou nt availab le Am ou nt s ed $A 0 $A 0.1 Loan facilities 3.2 Credit s tandb y arrangem ents Es tim ated cas h ou tflow s for nex t Ex p loration and evalu ation inclu ding p roject review.2 Develop m ent.3 Produ ction.4 Adm inis tration Total Reconciliation of cash Reconciliation ofcas h at the end ofthe (as s how n in the cons olidated s tatem ent ofcas h flow s ) to the related item s in the accou nts is as follow s. Cu rrent Previou s 5.1 Cas h on hand and at b ank 2, , Dep os its at call 5.3 Bank overdraft 5.4 O ther (p rovide details ) Total:cas h at end of (item ) 2, , /9 / Page 3

6 Changes in interes ts in m ining tenem ents and p etroleu m tenem ents 6.1 Interes ts in m ining tenem ents and p etroleu m tenem ents relinq u is hed,redu ced or lap s ed 6.2 Interes ts in m ining tenem ents and p etroleu m tenem ents acq u ired or increas ed Tenem ent reference and location N atu re ofinteres t (note (2 )) Interes t at b eginning of Interes t at end of EPL4, N am ib ia EPL5, N am ib ia EPL5, N am ib ia Ap p lication Ap p lication Ap p lication % % % Is s u ed and q u oted s ecu rities at end ofcu rrent Description includes rate of interest and any redemption or conversion rights together with prices and dates. 7.1 Conv erting Perform ance Shares 7.2 Changes du ring (a) Increas es throu gh is s u es (b ) Decreas es throu gh retu rns ofcap ital,b u y b acks, redem p tions Ordinary s ecu rities 7.4 Changes du ring (a) Increas es throu gh is s u es (b ) Decreas es throu gh retu rns ofcap ital,b u y b acks Convertib le deb t s ecu rities (description) Totalnu m b er N u m b er q u oted Is s u e p rice p er s ecu rity (s ee note 3 )(cents ) Am ou nt p aid u p p er s ecu rity (s ee note 3 )(cents ) 5 6 0,8 8 3, ,8 8 3, ,0 0 0, ,0 0 0,0 0 0 Page /9 /

7 7.6 Changes du ring (a) Increas es throu gh is s u es (b ) Decreas es throu gh s ecu rities m atu red, converted 7.7 Op tions (description and conversion factor) 7.8 Is s u ed du ring 7.9 Ex ercis ed du ring Ex p ired du ring Deb entu res (totals only) U ns ecu red notes (totals only) 3 5,0 0 0, ,0,0 (p erform ance rights ),0,0 $0.0 /9 /2 Exercise price $ Expiry date 3 0 /9 / Exercise price Expiry date 3 0 /9 / Page 5

8 Compliance statement 1 This s tatem ent has b een p rep ared u nder accou nting p olicies w hich com p ly w ith accou nting s tandards as defined in the Corp orations Act or other s tandards accep tab le to ASX (s ee note 4 ). 2 This s tatem ent does give a tru e and fair view ofthe m atters dis clos ed. Gary Steinep reis Com p any Secretary Ju ly Notes 1 The ly rep ort p rovides a b as is for inform ing the m arket how the entity s activities have b een financed for the p as t and the effect on its cas h p os ition. An entity w anting to dis clos e additionalinform ation is encou raged to do s o,in a note or notes attached to this rep ort. 2 The N atu re ofinteres t (item s 6.1 and 6.2 )inclu des op tions in res p ect ofinteres ts in m ining tenem ents acq u ired,ex ercis ed or lap s ed du ring the rep orting p eriod. If the entity is involved in a joint ventu re agreem ent and there are conditions p recedent w hich w illchange its p ercentage interes t in a m ining tenem ent,it s hou ld dis clos e the change ofp ercentage interes t and conditions p recedent in the lis t req u ired for item s 6.1 and Is s u ed and q u oted s ecu rities The is s u e p rice and am ou nt p aid u p is not req u ired in item s 7.1 and 7.3 for fu lly p aid s ecu rities. 4 The definitions in,and p rovis ions of,aasb 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Cash Flow Statements ap p ly to this rep ort. 5 Accou nting Standards ASX w illaccep t,for ex am p le,the u s e ofinternational Accou nting Standards for foreign entities. Ifthe s tandards u s ed do not addres s a top ic,the Au s tralian s tandard on that top ic(ifany)m u s t b e com p lied w ith. == == == == == Page /9 /