24 May 2017

Rights Issue Update

Notification of Shortfall

Consolidated Zinc Limited (CZL or the Company) is pleased to announce the result of its pro-rata renounceable Entitlement Offer of New Shares dated 1 May 2017 which closed on 19 May 2017 (Entitlement Offer).

The maximum number of New Shares that were available to be issued under the Entitlement Offer was 184,504,438.

The Company received total applications from eligible shareholders to subscribe for 139,234,383 new shares (18,811,729 shares of the total were subscribed for under the Shortfall Offer) for a total value of

$2,227,751.

The Entitlement Offer was fully underwritten by the Patersons Securities Limited (Patersons), leaving a shortfall of 45,270,055 shares to be placed by the underwriter.

A summary of the result of the Entitlement Offer is as follows:

Number

Value

Entitlement Shares subscribed for

120,422,654

$1,926,763

Shortfall Shares subscribed for

18,811,729

$300,988

Shortfall Shares placed by Patersons

45,270,055

$724,321

184,504,438

$2,952,072

Consolidated Zinc's Managing Director commented:

"We are grateful for the strong backing shown by our shareholders in supporting the Entitlement Offer. The funds raised will position Consolidated Zinc well in advancing the Plomosas Zinc Project towards a production scenario in a strengthening zinc market. "

Yours faithfully,

Will Dix Managing Director

Level 1, 35 Havelock St, West Perth WA Australia 6005 PO Box 692, West Perth WA Australia 6872 T:+61 8 9322 3406 F: +61 8 9320 7501 E: info@conzinc.com.au

(ASX: CZL) ACN 118 554 359

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Consolidated Zinc Limited published this content on 24 May 2017 and is solely responsible for the information contained herein.
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