Ann: MT CATTLIN PROCESSING PLANT UPDATE, page-5

MT CATTLIN UPDATE: MOVING TO PRODUCTION 21/01/2016

•  $7 million capital commitment to Mt Cattlin satisfied
•  Spodumene supply into China continues to tighten, prices increasing
  Operations Update
  General Mining Corporation Limited (ASX: GMM, “General Mining” or “Company”) is pleased to announce it has met its 31 December 2015 obligation under the agreement with Galaxy Resources Limited (ASX:GXY) by committing to an initial AUD $7 million capital spend on the recommencement of production at Mt Cattlin.
  This means that, upon the restart, General Mining will earn its initial 14% equity and 50% profit interest in the Mt Cattlin Project as per the formal agreement announced to the market on 9 June 2015.
  All long lead items required for the restart were ordered in late December 2015 with the 2016 production timeline comprising:

•  Fines circuit commissioning – late March 2016
•  Coarse circuit commissioning – late June 2016
•  First export of concentrate – estimated July 2016
•  Plant optimisation process – completed December 2016

GMM RAISES $7.3m, FULLY FUNDED TO POSITIVE CASHFLOW 17/12/2015

•  Strongly supported institutional capital raise
•  Company now funded through to positive cashflow
•  Lead Manager: Canaccord Genuity Australia