Announcement PDF 17 June 2015 ASX Limited ASX Market Announcements Office Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Hillgrove Resources Limited Results of Capital Raising – 3 for 11 Non-Renounceable Entitlement Offer On Monday, 25 May 2015, Hillgrove Resources Limited (HGO) announced that the Board had resolved to proceed with a pro rata non-renounceable entitlement issue (Offer) of new fully paid ordinary shares (New Shares) to its shareholders on a 3-for-11 basis, at an issue price of $0.25 per New Share. Full details of the Offer were set out in the Entitlement Offer Booklet mailed to shareholders on Wednesday, 3 June 2015. Subscriptions under the Offer totalled 20,052,600 New Shares for an amount of $5,013,150, which represented approximately 50% of entitlements. Entitlements not subscribed for total 20,258,119 New Shares, being an amount equal to $5,064,530 (the Shortfall). The underwriters of the Offer, Freepoint Metals and Concentrates LLC and Wilson HTM Corporate Finance Ltd, will subscribe for 70% and 30% respectively of the Shortfall. New Shares will be allotted to Eligible Shareholders on Monday, 22 June 2015 and it is anticipated that normal trading of New Shares will commence on Tuesday, 23 June 2015. Hillgrove Resources Chairman, The Hon. Dean Brown, AO, would like to thank those shareholders who have subscribed to their rights and the underwriters for their continued support of the Company. He said “The additional equity capital together with the new debt profile will allow the Company to focus on maximising shareholder returns from the Kanmantoo Mine”. Yours faithfully Steven McClare Managing Director and CEO IIII HILLGROVE RESOURCES LIMITED ACN 004 297 116 Suite 1709, Level 17 Australia Square Tower, 264 George Street, Sydney NSW 2000, Australia www.hillgroveresources.com T +61 2 8247 9300 F +61 2 8247 9399