chloride slag shipments from tti commence

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11 March 2016 CHLORIDE SLAG SHIPMENTS FROM TTI COMMENCE MDL’s primary asset is a 50% interest in the TiZir joint venture (‘TiZir’), which owns the Grande Côte mineral sands operation (‘GCO’) in Senegal, West Africa and the TiZir Titanium & Iron ilmenite upgrading facility (‘TTI’) in Tyssedal, Norway. ERAMET of France is MDL’s 50% joint venture partner in TiZir. Mineral Deposits Limited (‘MDL’, ‘the Company’) is pleased to announce that TTI has commenced shipments of chloride titanium slag. Importantly, the product specifications for chloride titanium slag and high‐purity pig iron, produced using ilmenite from GCO, are consistent with expectations. The ramp up of TTI operations continues to meet expectations following completion of the furnace reline and capacity expansion project in December 2015. It is anticipated that the upgraded furnace and water‐cooled copper‐ceramic roof will increase smelting capacity by approximately 15% and improve maintenance performance by lengthening periods between scheduled shutdowns. The sale of chloride titanium slag and high‐purity pig iron from TTI represents the final step in the vertical integration strategy of the TiZir joint venture. Mineral Deposits Limited ABN 19 064 377 420 Level 17 530 Collins Street Melbourne VIC 3000 Australia T +613 9618 2500 F +613 9621 1460 E [email protected] W ABOUT MDL Forward looking statements Mineral Deposits Limited (ASX: MDL) is an Australian based mining company in the business of mining, integrating and transforming mineral sands resources. Certain information contained in this report, including any information on MDL’s plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance, constitute forward‐looking statements. MDL owns 50% of the TiZir joint venture in partnership with ERAMET of France. The TiZir joint venture comprises two integrated, operating assets – the Grande Côte mineral sands operation (‘GCO’) in Senegal, West Africa and the TiZir Titanium & Iron ilmenite upgrading facility (‘TTI’) in Tyssedal, Norway. GCO is a large‐scale, cost competitive mineral sands operation located in Senegal that is fully integrated from mine‐to‐ship, using owned or controlled infrastructure. GCO commenced mining activities in March 2014 and, over an expected mine life of at least 25 years, will primarily produce high quality zircon and ilmenite. A majority of GCO’s ilmenite is sold to TTI. GCO also produces small amounts of rutile and leucoxene. TTI upgrades GCO ilmenite to produce high‐quality titanium feedstocks which are primarily sold to pigment producers and a high‐purity pig iron, a valuable co‐product, which is sold to ductile iron foundries. TTI benefits from excellent logistics with respect to cheap and clean power access, year‐round shipping capacity and customer proximity. Such statements are based on a number of estimates and assumptions that, while considered reasonable by management at the time, are subject to significant business, economic and competitive uncertainties. MDL cautions that such statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of MDL to be materially different from the Company’s estimated future results, performance or achievements expressed or implied by those forward‐looking statements. These factors include the inherent risks involved in mining and mineral processing operations, exploration and development of mineral properties, changes in economic conditions, changes in the worldwide price of zircon, ilmenite and other key inputs, changes in the regulatory environment and other government actions, changes in mine plans and other factors, such as business and operational risk management, many of which are beyond the control of MDL. Except as required by applicable regulations or by law, MDL does not undertake any obligation to publicly update, review or release any revisions to any forward‐looking statements to reflect new information, future events or circumstances after the date of this report. Nothing in this report should be construed as either an offer to sell or a solicitation to buy or sell MDL securities. Contact details Level 17 530 Collins Street Melbourne Victoria 3000 Australia T +61 3 9618 2500 F +61 3 9621 1460 E [email protected] W For further information please contact: Rob Sennitt Chief Executive Officer T +61 3 9618 2500 E [email protected] Greg Bell Chief Financial Officer T +61 3 9618 2500 E [email protected] 2 

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