King Island Scheelite Limited to raise $1,969,000 29th May 2013

ASX: KIS

Market Capitalisation $ 5.0m

Shares on Issue 96.5m

52 Week High $ 0.126

52 Week Low $ 0.052

Share Price (28/05/2013) $ 0.052

King Island Scheelite Limited (KIS)

The Dolphin Project on King Island, Tasmania could meet a significant proportion of the world's tungsten requirements. Producing some 3,500 tonnes of tungsten trioxide (WO3) per annum in an industry standard 65% tungsten concentrate.

Tungsten price

Metal Pages APT USD36,000-37,500/ tonne (28/05/2013)

Directors

Johann Jacobs Chairman

Robin Morritt Director

Chris Ellis Director

Simon Bird Director

Contact

Simon Bird

Chief Executive Officer

King Island Scheelite Limited ABN 40 004 681 734

Level 26, 259 George Street

Sydney NSW 2000

GPO Box 5154

Sydney NSW 2001

P. +61 2 8622 1400

F. +61 2 8622 1401

www.kingislandscheelite.com.au

HIGHLIGHTS Following the recent announcement on the completion of a value engineering review King Island Scheelite Limited is pleased to announce a capital raising to progress plans for reopening the tungsten mine on King Island. Key elements of this capital raising: