Placement 2.4c, page-2

30 August 2016 WELL SUPPORTED CAPITAL RAISE OF $1.44 MILLION Zinc of Ireland NL (ìCompanyî or ìZMIî) (ASX:ZMI) is pleased to announce a capital raising of $1.44 million (before costs) by way of the issue of fully paid ordinary shares at 2.4 cents per share (ìPlacementî). The Placement is fully subscribed. Under the Placement, 60 million shares will be issued at an issue price of 2.4 cents each, together with one free attaching option exercisable at 2 cents on or before 21 July 2017 (being in the currently quoted class of trading as ZMIO) (ìQuoted Optionsî) (on the basis of one Quoted Option for every two shares subscribed for) and one free attaching option exercisable at 4 cents on or before 21 July 2021 (ìUnquoted Optionsî) (on the basis of one Unquoted Option for every two shares subscribed for). The Placement will be made to professional and sophisticated investors as defined in section 708 of the Corporations Act. The shares and Quoted Options the subject of the Placement will be issued following the Companyís shareholder meeting scheduled for 2 September 2016 whereat the Companyís placement capacity pursuant to ASX Listing Rule 7.1 will be refreshed. The Unquoted Options will be issued following shareholder approval being obtained at an additional shareholder meeting anticipated to be held in October. The Company intends to use the proceeds of the Placement to continue and expand the exploration of the Companyís Irish zinc projects, including the drilling at the Kildare project which is currently underway, and for general working capital purposes. In order to allow existing shareholders to participate on the same terms as the Placement, the Company plans to announce a share purchase plan to raise $500,000 on the same or similar terms to the Placement in the near future. Yours faithfully,