SO4.L Regulatory News (SO4)

Further to its announcement on 24 March 2016, Salt Lake Potash Limited (the "Company") is pleased to announce conclusion of the placement of 9,925,000 ordinary shares of the Company to overseas investors at an issue price of A$0.32 per share to raise A$3.2 million. The placement to Australian investors announced on 23 March 2016 raising A$5.2 million has now completed.

Furthermore, the Company plans, subject to shareholder approval, to issue a further 1,600,000 ordinary shares on the same terms as the above placement to Australian based investors, bringing the total fundraising to approximately A$8.9 million. Further details of a General Meeting to approve the additional issue of shares will be provided by the Company to shareholders in due course.

Salt Lake Potash Limited also advises that it has appointed Cenkos Securities plc as its Broker with immediate effect.

Settlement and dealings

Application has been made to the Australian Securities Exchange ("ASX") and the AIM market of the London Stock Exchange ("AIM") for a total of 26,175,000 new ordinary shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on both the ASX and AIM. Dealings on AIM are expected to commence at 8:00 a.m. on 4 April 2016 ("Admission").

Total voting rights

Following the Admission, the Company's issued share capital will comprise 132,227,596 ordinary shares. The Company does not hold any shares in treasury. This figure of 132,227,596 ordinary shares may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information please visit www.saltlakepotash.com.au or contact: