Consolidated Tin Mines : Company Exploration Update

ANNOUNCEMENT

1st May 2017

ASX/MIDIA RELEASE

ASX: CSD Share Price: $0.025 (suspended trading) ABN: 57 126 634 606

TIN M IN ES LIM ITED

COMPANY EXPLORATION UPDATE

MT GARNET DEEPS DRILLING COMPLETED

Further to its announcement on 8th March 2017, Consolidated Tin Mines Ltd (ACN 126 634 606) (ASX Code: CSD) (Company) is pleased to advise that drilling at the Mt Garnet Deeps project has been completed and final assay results have been received. The drilling program represents the first stage of the company's exploration strategy to develop additional base metal resources to provide additional ore reserves for the Company's Mt Garnet processing plant.

The drilling targeting the Mt Garnet Deeps has successfully confirmed the existence of a continuous mineralised shoot at depth and parallel to the original Mt Garnet Resources and Reserves.

Highlights

• This drilling program confirms the presence and continuity of mineralised shoot with higher grade zones

• Significant intersections from the program include:

  o 10.9m @ 2.77% Zn from 308.1m (GTD240)

  o 5.0m @ 4.22% Zn from 310.6m includes 3m @ 6.13% Zn (GTD241)

  o 13.25m @ 2.42% Zn from 322.0m includes 3m @ 6.22% Zn (GTD243)

  o 5.75m @ 2.36% Zn from 341.1m includes 1m @ 8.47% Zn (GTD246)

  o 16.0m @ 3.20% Zn from 425.0m includes 6.2m @ 5.34% Zn (GTD251) o 9.0m @ 3.49% Zn from 449.0m includes 3.0m @ 4.96% Zn (GTD253) o 16.4m @ 3.74% Zn from 270.9m includes 3.6m @ 9.24% Zn (GTD254)

• Follow-up drilling planned to commence this month to infill priority area identified by recent successful drilling

MT GARNET DEEPS

The Mt Garnet Deeps drilling program resulted in 17 holes being drilled for a total of 5,383m. Holes were drilled with Reverse Circulation (RC) precollars and diamond core (DD) tails. RC precollars have been utilised to reduce costs through the predominantly barren hanging wall sequence.

Drilling was designed to infill a gap in deeper drilling and confirm the presence of an interpreted mineralised shoot parallel and at depth to the main orebody. Drilling has successfully confirmed the presence of this mineralised shoot and also indicates that it extends up dip near surface to the south of the current open pit and underground development.

Drill hole GTD254 was drilled to target the shallower portion of this zone and intersected a broad zone of mineralisation 16.4m @ 3.74% Zn with a high grade core of 3.6m @ 9.24% Zn. A full list of the significant intersections are tabulated below.

CONSOLIDATED TIN MINES LIMITED Page 1 of 17

Cairns Corporate Headquarters: 395 Lake Street, Cairns Qld 4870 Phone: +61 (7) 4032 3319

Email: info@csdtin.com.au Web: www.csdtin.com.au

X-Section D

X-Section C

X-Section A

X-Section B

Mt Garnet Open Pit

Figure 1: Mt Garnet Deeps drill hole location plan. Drill hole collars in blue

Figure 2: X-Section A showing recent drilling results. Figure 3: X-Section B showing recent drilling results.

Figure 4: X-Section C showing recent drilling results. Figure 5: X-Section D showing recent drilling results.

Two areas, namely Area 1 and Area 2 have been identified within the mineralised shoot as having the potential to be developed further with more drilling (Figure 6). Due to its shallower depth, relative proximity to existing underground development and the higher grades intercepted in recent and historical holes, Area 1 is seen as being a priority target for further drilling. As such, six holes for a total 1,800m have been planned as a second phase to infill the 200m strike length at 50m intervals in Area 1. This drilling will test the continuity of the higher grade mineralisation as well as improve geological confidence.

This second phase of drilling at Mt Garnet represents another step towards developing further Resources for CSD operations.

Figure 6: Mt Garnet Deeps drill hole sections looking West showing target areas identified in recent drilling

FURTHER EXPLORATION ACTIVITIES

The second phase of drilling at Mt Garnet Deeps Project as outlined above is considered a high priority commenced on 30th April.

Two holes out of a planned five have been completed at the companies Gillian Zinc Project. To date zinc mineralisation is evident in the oxidised zone with assay results pending. Drilling will continue at this project in the coming months targeting deeper sulphide mineralisation.

Drilling has commenced at the Company's Einasleigh Project, initially targeting the Chloe prospect as recently completed reviews have highlighted the potential to increase the existing resource for this area.