Ann: Granville Tin Project Update, page-2

Progress Update for Granville (Level 2) Expansion

The Directors of Aus Tin Mining Limited (the Company) wish to provide the following update in respect of
the Granville Level 2 Expansion (Granville Expansion).

Following finalisation of the 2017 trial shipment, the Company has entered into a new, two year tin
purchase agreement with Traxys Europe S.A for tin concentrate from the Granville Tin Project. Whilst the
terms of the agreement are confidential, key elements of the previous agreement, including the purchase
of the concentrate “ex‐mine gate” and payment linked to the prevailing US dollar tin price as quoted on
LME are retained. Taking into account new thresholds for certain penalty elements, overall the new
agreement provides for more favourable terms to the Company. The Company is pleased continue the
working relationship with Traxys Europe S.A.

Work on the new Tailings Storage Facility (TSF) is progressing (refer Figure 1) although the schedule has
been delayed by approximately four weeks due to combination of weather and a more onerous engineering
testing regime than that originally contemplated. The Company has appointed a second contractor to
expedite the recovery of local materials for construction of the new TSF to limit any delay, and the
additional testing has permitted the increased use of local material which will reduce capital costs.
Separately, the Company has sought and obtained approval from EPA Tasmania for installation of a more
economical HDPE liner which will reduce the cost and facilitate improved installation.


The Company will continue to update the market as work at the Granville Expansion progresses.