Altura Mining : Lithium Project Construction Update

ASX ANNOUNCEMENT | 8 January 2018

PLANT CONSTRUCTION AND DEVELOPMENT OF THE ALTURA

LITHIUM PROJECT NEARING COMPLETION

• ■ Civil Works are complete with only minor installations required over the coming weeks

• ■ Key plant items such as the Crushing and Screening Plants, Dense Media Separation Modules and High Pressure Grinding Rolls are all close to completion

• ■ Construction on the Run‐of‐Mine (ROM) Wall is complete

• ■ Practical completion issued on the Tailings Storage Facility

• ■ The Mine Operations Centre is now fully operational and has been occupied by the Altura and NRW workforce

• ■ The Board has recently approved an owner/operator model for the processing plant after completing a careful market investigation

• ■ Stage 1 construction remains on schedule for first lithium concentrate sales in the June Quarter 2018

Altura Mining Limited (ASX Code: AJM) ("Altura" or "the Company") is pleased to advise that the construction and development of the Altura Lithium Project is nearing completion and remains on track for commissioning in Q1 2018 and product sales in Q2 2018.

Civil works on the project have reached practical completion, with a total of 6800m3 of concrete being poured over the last six months.

The crushing and screening plant is largely complete, with commissioning expected once the main power plant is operational in early March. Dense Media Separation (DMS) modules 1 and 2 are complete from a structural and mechanical perspective, with piping works underway, whilst the High Pressure Grinding Rolls (HPGR) motors and gearboxes have been installed and aligned, with work now progressing on the hydraulic system.

Construction of the ROM Wall has been completed and a practical completion status has been issued on the Tailings Storage Facility (TSF). The Mine Operations Centre is also fully operational with both Altura and NRW employees working from the building.

Altura Mining Limited ABN 39 093 391 774

Level 2, 23 Barrack Street	PO Box Z5369	T [phone]	[e-mail]
Perth WA 6000	St. George's Terrace WA 6831	F [phone]	alturamining.com

After a careful market investigation, the board of Altura has recently approved an owner/operator model for the processing plant. This owner/operator model will allow Altura to manage and control this vital step in the delivery of an optimal product to the market, and has indicated cost benefits to the Company as compared with other models reviewed as part of the investigation. Key staff have already been recruited and a recruiting campaign has commenced for the remainder of staff who will be required towards the end of February.

Altura Managing Director Mr James Brown said he has been very impressed with the development and timeline maintenance of the project to meet the Company's aggressive timetable for commissioning and production.

"The Board and Management of Altura outlined an aggressive timetable when we broke ground in March last year on the Altura Lithium Project, to place the company in a position to become the first major producer in 2018. The work completed since then has been outstanding and to be nearing completion on the mine site within this specified targeted date keeps Altura firmly on track to start commissioning in Q1 2018, with product sales to commence in Q2 2018."

Mine site works near completion on the Altura Lithium Project

Drone photo taken from above the Process Plant control room

Ball Mill trunnion ends now installed

Dense Media Separation (DMS) modules 1 & 2

Secondary DMS module now installed

About Altura Mining Limited (ASX: AJM)

Altura is building a leading position in the independent supply of lithium raw materials, with a world-class Altura Lithium Project at Pilgangoora to become Australia's next major hard rock lithium product supplier in 2018. Altura has an experienced in-house team focussed on delivering the Altura Lithium Project into production. The project is the most advanced stage, near-term producing lithium project; coupled with solid offtake partners and a market providing substantial growth opportunities to ensure positive shareholder returns.

For further information, please visitwww.alturamining.com or phone:

Company:	Media:
James Brown, Managing Director [phone]	Michael Weir / Cameron Gilenko
Paul Mantell, Executive Director [phone]	Citadel- MAGNUS
[phone]