Mineral Deposits : Cleansing Notice – Entitlement Offer

2 March 2017

Cheng Tang

Adviser, Listings Compliance (Melbourne) ASX Compliance Pty Limited

Level 4, Rialto North Tower 525 Collins Street MELBOURNE VIC 3000

Dear Ms Tang,

Mineral Deposits Limited (MDL) - Notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth)

MDL announced on 2 March 2017 a fully underwritten pro rata accelerated non-renounceable entitlement offer (Entitlement Offer) of approximately 77,757,256 new fully paid ordinary shares (New Shares) to raise approximately A$32.7 million before costs and a placement of 15,551,451 New Shares to raise approximately A$6.5 million before costs.

The Entitlement Offer gives eligible shareholders the opportunity to participate on the basis of 3 New Shares for every 4 fully paid ordinary shares held as at 7.00pm (Melbourne time) on 6 March 2017 by shareholders with a registered address in Australia or New Zealand (and other jurisdictions (if any) determined by MDL).

MDL states that:

1. it will offer for issue the New Shares to be issued under the Entitlement Offer without disclosure to investors under Part 6D.2 of the Corporations Act;

2. this notice is being given under section 708AA(2)(f) of the Corporations Act 2001 (Cth) (Corporations Act);

3. as at the date of this notice, MDL has complied with:

4. the provisions of Chapter 2M of the Corporations Act as they apply to MDL; and

5. section 674 of the Corporations Act;

6. as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act; and

7. the potential effect that the Entitlement Offer will have on the control of MDL, and the consequences of that effect, will depend on a number of factors including eligible shareholders' interest in taking up their entitlements. The Entitlement Offer is not expected to have a material impact on the control of MDL. Specifically, the Company does not expect any shareholder to have voting power in MDL of more than 20% after completion of the Entitlement Offer.

8. The Entitlement Offer is fully underwritten by Morgans Corporate Limited. Yours sincerely,

   Michaela Evans Company Secretary

   Mineral Deposits Limited

   2017.03.02 Section 708AA Cleansing Notice.docx