Ann: Gulf Capital Raising Update, page-2

Gulf Manganese Corporation Limited (ASX: GMC) (“Gulf” or “the Company”) advises that further to the announcement dated 20th February 2017, the Company is actively progressing discussions with sophisticated investors regarding the undertaking of a Share Placement (“the Placement”). The Company will make an announcement in relation to the Placement no later than Friday, 3rd March 2017. The Company requests that the voluntary suspension remain in place until the alternative funding has been finalised and secured. The Company is not aware of any reason why the suspension should not be granted.