ACN: 139 522 900

24 February 2017

ASX Market Announcements Office

Via ASX Market Announcements Platform

PLACEMENT TRANCHE 1 SETTLEMENT

Gascoyne Resources Limited ("Gascoyne" or the "Company") is pleased to announce that settlement of Tranche 1 of the recently announced $50,000,000 Placement has occurred today.

The company today issued 74,900,000 shares to institutional and sophisticated investors after receiving $35,081,287 (net of costs) in proceeds.

A shareholder meeting seeking approval to issue Tranche 2 of the Placement, being 25,100,000 shares, is scheduled for the 10th of March 2017.

Yours Sincerely

On behalf of Gascoyne Resources Ltd David Lim

Company Secretary

P.O. Box 1449, West Perth, Western Australia 6872 Level 1, 41-47 Colin Street, West Perth, Western Australia 6005 Telephone +61 8 9481 3434, Facsimile +61 8 9481 0411

Email: admin@gascoyneresources.com.au, Web: www.gascoyneresources.com.au

Gascoyne Resources Ltd. published this content on 24 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 February 2017 08:08:12 UTC.

Original documenthttp://www.gascoyneresources.com.au/assets/Uploads/170224-Placement-Settlement-of-Tranche-1.pdf

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