Ann: Capital Raising Update, page-2

Gulf Manganese Corporation Limited (ASX: GMC) (“Gulf” or “the Company”) advises that the

Company is still currently in discussions with sophisticated investors regarding a placement.

The Company will make an announcement in respect to this capital raising once it is finalised and expects this to be no later than Monday, 20th March 2017.

The Company requests the voluntary suspension remain in place until the alternate funding has been finalised and secured. The Company is not aware of any reason why the suspension should not be granted.