Silver Lake Resources : Change in substantial holding

Corporations Act 2001 Section 671B

604 a e 2/2 15 Jul 2001

To Company Name/Scheme Silver Lake Resources Limited

ACN/ARSN 108 779 782

1. Details of substantial holder (1)

   Name

   There was a change in the interests of the substantial holder on	15/2/2017
   The previous notice was given to the company on	9/2/2017
   The previous notice was dated	8/2/2017

   ACN/ARSN (if applicable)

   Van Eck Associates Corporation (and its associates referred to in paragraph 6). N/A

2. Previous and present voting power

   Class of securities (4)	Previous notice		Present notice
   	Person's votes	Voting power (5)	Person's votes	Voting power (5)
   Ordinary shares	77,421,474	15.37%	83,690 ,917	16.62%

   The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows :

3. Changes in relevant interests

Particulars of each change in, or change in the nature of,a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

1. Present relevant interests

   Particulars of each relevant interest of the substantial holder in voling securities after the change are as follows:

   Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
   VEAC	Bank of New York Mellon as cus1odian for Van Eck Vectors Junior Gold Miners ETF	VanEck Vectors	VEAC holds its relevant	Ordinary shares 82,635 ,146	16.41%
   		Junior Gold Miners interest by having the ETF (GDXJ) power to exercise, control the exercise of, or influence 1he exercise of, the voting powers or disposal of 1he securities to which the relevant interest relates in the ordinary course of rvestment management business .

   VEAC

   Bank of New York Mellon as custodian for VanEck Vectors Junior Gold Miners UCITS ETF

   VanEck Vectors Junior Gold Miners UCITS ETF (UCTGDXJ)

   Same as above.

   Ordinary shares 1.055,771

   0.21%

2. Changes in association

   The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

   Name and ACN/AASN (if applicable)	Nature of association

3. Addresses

The addresses of persons named in this form are as follows:

print name

sign here

Andrew Tilzer capacity AVP

z:::; date 17/2/2017

/

DIRECTIONS

1. If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

2. See the definition of "associate'' in section 9 of the Corporations Act 2001.

3. See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001.

4. The voting shares of a company constitute one class unless divided into separate classes.

5. The person's votes divided byIhe total votes in the body corporate or scheme multiplied by 100.

6. Include details of:

7. any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 6718(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

8. any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

   See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

9. Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may. become entitled to receive in retalion to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be ineluded on any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they

   are not paid directly to the person from whom the relevant interest was acquired.

10. If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown"'.

11. Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

604 GUIDE pa e 1/1 13 March 2000

GUIDE This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 604.

Signature This form must be signed by either a director or a secretary of the substantial holder.

Lodging period Nil

Lodging Fee Nil

Other forms to be completed

Nil

Additional information (a) If additional space is required to complete a question, the information may be included on a separate piece of

paper annexed to the form.

1. This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme . A copy of this notice must also be given to each relevant securities exchange .

2. The person must give a copy of this notice:

3. within 2 business days after they become aware of the information; or

4. by 9.30 am on the next trading day of the relevant securities exchange after they become aware of the information if:

5. a takeover bid is made for voting shares in the company or voting interests in the scheme; and

6. the person becomes aware of the information during the bid period.

Annexures To make any annexure conform to the regulations, you must

1. use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides

2. show the corporation name and A.C.N or ARBN

3. number the pages consecutively

4. print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied

5. identify the annexure with a mark such as A, B, C, etc

6. endorse the annexure with the words:

   This is annexure (mark) of (number) pages referred to in form (form number and title)

7. sign and date the annexure.

The annexure must be signed by the same person(s) who signed the form.

Information in this ulde is intended as a uide only. Please consult our accountant or solicitor for further advice.