Consolidated Zinc : Appendix 3B – Rights Issue updated

Name of entity

Consolidated Zinc Limited

ABN

27 118 554 359

1

+Class of +securities issued or to be issued

Fully Paid Ordinary Shares

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

31,436,701

3

Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid

+securities, the amount

outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Fully Paid Ordinary Shares

4

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted

+securities?

If the additional +securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do

not rank equally, other than in relation to the next dividend, distribution or interest payment

Yes

5

Issue price or consideration

$0.03 per share

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Funding for drilling, mine sustaining expenditure, and development of the Plomosas Zinc project; Regional exploration; and

General Working Capital.

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

Yes

6b

The date the security holder resolution under rule 7.1A was passed

30 November 2016

6c

Number of +securities issued without security holder approval under rule 7.1

Nil

6d

Number of +securities issued with security holder approval under rule 7.1A

Nil

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

Nil

6f

Number of +securities issued under an exception in rule 7.2

31,436,701

6g

If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the

+issue date and both values.

Include the source of the VWAP calculation.

N/A

6h

If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

N/A

6i

Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

7.1 capacity - 69,189,208 7.1A capacity - 46,126,139

7

+Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

4 January 2017

Number

+Class

461,261,388

Fully Paid Ordinary Shares

11

Is security holder approval required?

No

12

Is the issue renounceable or non- renounceable?

Non-Renounceable

13

Ratio in which the +securities will be offered

One (1) new share for every five (5) shares held