Minotaur Exploration : welcomes new Major Shareholder

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MINOTAUR EXPLORATION LIMITED ACN 108 483 601 ASX: MEP

24 November 2015

MINOTAUR

EXPLORATION

Release

asx

Minotaur welcomes new Major Shareholder

Minotaur Exploration Limited ('Minotaur', ASX Code: MEP) notes that Exploration Capital Partners 2014 Limited Partnership has today released a Substantial Holder Notice.

Exploration Capital Partners 2014 Limited Partnership ('EX2014'), an entity affiliated with Sprott Inc. (TSX: SII, a leading North American-based asset management firm), became Minotaur's primary Shareholder through the recent Placement.

EX2014 directly holds 9.93% of Minotaur's issued shares.

EX2014, in conjunction with a high net worth client whose account resides with an affiliate of Sprott,

additionally acquired all the Shares held by Norilsk Nickel Australia Pty Ltd, previously Minotaur's largest Shareholder. Collectively, those parties hold 12.23% of Minotaur's issued shares.

The directors of Minotaur welcome both new shareholders to the Company and thank them for their recent support.

For further information, please contact:

Minotaur Exploration Ltd

T +61 8 8132 3400

www.minotaurexploration.com.au

Andrew Woskett

Managing Director

LEVEL 1, 8 BEULAH ROAD, NORWOOD, SOUTH AUSTRALIA 5067 T +61 8 8132 3400 F +61 8 8132 3499 E admin@minaturexploration.com.au

www.minotaurexploration.com.au