Havilah Resources Ltd.: Renounceable Rights Issue Update and New Prospectus

Adelaide - Havilah Resources Ltd. (ASX:HAV) (Havilah or Company) advises that a new prospectus, dated 16 October 2017 (New Prospectus) for the renounceable right issue (Rights Issue) will be lodged with ASIC (and released to the ASX) today, 16 October 2017 with a revised timetable in terms of which the Rights Issue will now be closing on 31 October 2017.

Accordingly, the Company advises that the prospectus released to the ASX on 5 October 2017 is withdrawn, is not to be relied upon by shareholders participating in the Rights Issue nor will it constitute a disclosure document for the offer of continuously quoted securities under the Rights Issue.

The Company and CPS Capital Group Pty Ltd (CPS) have mutually agreed to terminate the underwriting agreement for the Rights Issue announced to the ASX on 5 October 2017. Due to the termination of the underwriting agreement, CPS will no longer be the lead manager for the Rights Issue, but has agreed to continue to support the Company by continuing to market Havilah to its clients.

The New Prospectus reflects the termination of the underwriting agreement and addresses certain technical issues relating to the lodgement of the prospectus with ASIC on 5 October 2017. There are certain other key changes which are highlighted in the New Prospectus. The Company provides the details of the Rights Issue and a revised timetable below.

Details of the Rights Issue: Havilah announced on 5 October 2017 a pro rata one (1) for seven (7) renounceable Rights Issue for shareholders registered as at 7:00 pm (CDT) on the record date of 10 October 2017 (Eligible Shareholders). Each Eligible Shareholder will be entitled to subscribe for one (1) New Share in Havilah at $0.20 for every seven (7) shares registered in their name on the record date of 10 October 2017 (Entitlement). For each two (2) New Shares issued under the Offer, one (1) attaching free New Option to acquire one (1) ordinary share at $0.40 on or before 30 November 2019 will also be issued.

Eligible Shareholders who accept their Entitlement in full will have the opportunity to apply for additional New Shares at a price of $0.20 each (Additional New Shares) under a top up offer (Top Up Offer). For each two (2) Additional New Shares issued, one (1) attaching free New Option to acquire one (1) ordinary share at $0.40 on or before 30 November 2019 will also be issued.

For further details about the Rights Issue please refer to the New Prospectus released to the ASX and lodged with ASIC today, 16 October 2017.

From today, the New Prospectus, with full details of the Rights Issue, will be available to download from both the ASX website (at www.asx.com.au) and the Company's website (at www.havilah-resources.com.au), and will subsequently be mailed to Eligible Shareholders on 18 October 2017, with an Entitlement and Acceptance Form.

The indicative timetable for the Rights Issue is as follows

Activity: Announcement of renounceable Rights Issue & lodging of previous Appendix 3B with ASX
Date: 5 October 2017

Activity: Previous notice sent to Shareholders containing information required by Appendix 3B
Date: 6 October 2017

Activity: Shares commenced trading ex-Rights
Date: 9 October 2017

Activity: Rights started trading
Date: 9 October 2017

Activity: Record Date for Offer participation
Date: 10 October 2017

Activity: Rights Issue Prospectus lodged with ASIC and ASX
Date: 16 October 2017

Activity: Lodging of Appendix 3B with ASX
Date: 16 October 2017

Activity: Notice sent to Shareholders containing information required by Appendix 3B
Date: 16 October 2017

Activity: Prospectus and Entitlement and Acceptance Form despatched to Eligible Shareholders and Opening Date of the Offer
Date: 18 October 2017

Activity: Rights trading ends
Date: 24 October 2017

Activity: Deferred settlement trading commences
Date: 25 October 2017

Activity: Closing Date of Rights Issue and Top Up Offer (5.00 pm CDT)
Date: 31 October 2017

Activity: ASX advised of any Shortfall
Date: 3 November 2017

Activity: Proposed date for the issue of New Shares and New Options
Date: 7 November 2017

Activity: Deferred settlement trading ends
Date: 7 November 2017

Activity: Normal trading of New Shares expected to commence
Date: 8 November 2017

Activity: Holding statements dispatched
Date: 9 November 2017

The timetable is indicative only and the Company reserves the right to vary it at any time without prior notice subject to the Listing Rules and the Corporations Act 2001 (Cth).

To view Renounceable Rights Issue Prospectus, please visit:
http://abnnewswire.net/lnk/22DGQ2B8

About Havilah Resources Ltd:

Havilah Resources Ltd. (ASX:HAV) is a debt free South Australian gold producer having recently financed and developed its first gold mine at Portia in north-eastern South Australia. It plans to follow on with three copper-gold-cobalt mining developments at North Portia, Kalkaroo and Mutooroo, which are underpinned by a JORC resources mineral inventory of over 1.4 million tonnes of copper, 3.6 million ounces of gold, and 18,000 tonnes of cobalt.



Contact:

Dr Chris Giles Managing Director
Havilah Resources Ltd.
T: +61-8-8155-4500
E: info@havilah-resources.com.au
www.havilah-resources.com.au