SO4.L Regulatory News (SO4)

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3.00 pm on 27 April 2017

This announcement contains inside information.

Salt Lake Potash Limited

("Salt Lake" or the "Company")

Result of Placing

Salt Lake Potash Limited, the dual listed ASX and AIM mineral exploration company with a portfolio of salt lakes in Western Australia, is pleased to announce the successful completion of the Placing announced by the Company earlier today.

A total of 30,000,000 new ordinary shares in the Company (the "Placing Shares") have been placed by Cenkos (the "Bookrunner") at a price of 25 pence (A$0.43) per Placing Share, in order to raise net proceeds of approximately £7.0 million (A$12.0 million) for the Company.

Application has been made for admission of 30,000,000 new ordinary shares, to be issued pursuant to the Placing, to trading on ASX and AIM ("Admission"). The Placing Shares will rank pari passu with the Company's existing ordinary shares. Admission to AIM is expected to become effective on 8.00 a.m. on 4 May 2017.

Following Admission, Salt Lake's total issued and voting share capital will comprise 164,007,596 Ordinary Shares. The Company does not hold any shares in treasury. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.

Unless the context requires otherwise, capitalised terms in this announcement have the same meanings as defined in the Company's announcement of the Placing released via RNS earlier today.

Matt Syme, CEO, commented:

"We are very pleased to have successfully put in place the next stage of funding for our exciting Sulphate of Potash Projects in Australia, where we are working very hard to become the first producer in a sector with outstanding potential. The outstanding support we have received from our shareholders and advisers in London is a great help in our pursuit of that goal and we look forward to continued success together. "

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