Announcement PDF ASX ANNOUNCEMENT Date: 11 May 2017 Number: 511/110517 SHARE PURCHASE PLAN TO RAISE UP TO $4 MILLION  Existing Eligible Shareholders are invited to participate in a Share Purchase Plan for up to 222,300,000 New Shares to raise up to $4.0 Million.  Three free attaching Listed Options for every two New Shares subscribed for.  Funds to be used for major drilling campaign at the Commonwealth gold-silver-base metals project in New South Wales and follow up work at Broken Hill. Impact Minerals Limited (Impact or the Company) (ASX:IPT) is pleased to announce a Share Purchase Plan (SPP Offer) for the offer of 222,300,000 new fully paid ordinary shares (New Shares) to raise up to approximately $4.0 Million to drive further exploration at its high grade and prospective Commonwealth goldsilver-base metals project near Orange in New South Wales. The SPP Offer will offer New Shares to each individual who was registered as an Impact shareholder as at 5:00pm (WST) on 10 May 2017, at an issue price of 1.8 cents per share, being the 5 day volume weighted price of Impact’s shares on the ASX. Eligible shareholders will be able to subscribe for up to $15,000 of New Shares, without incurring brokerage or other transaction costs. Eligible shareholders will also be offered three free attaching listed options (Free Attaching Options) exercisable at $0.04 with an expiry date of 15 June 2020 for every two New Shares subscribed for. Shareholders and other eligible individuals (refer below) will also be able to apply for any New Shares and Free Attaching Options not subscribed for under the SPP Offer. This will form part of a Shortfall Offer (Shortfall Offer). Impact Minerals’ Managing Director, Dr Mike Jones: “This is a significant opportunity for existing shareholders to increase their participation in upcoming drill programmes at the Company’s emerging Commonwealth project, where we will start drilling in June, as well as at our Broken Hill copper-nickel-PGM project. Both projects have already delivered exceptional high grade drill results that require follow up work as well as numerous new drill targets from our ongoing work.” “I believe the targets we are going to drill have exceptional merit and I will be taking up my full allocation of shares.” Purpose of the capital raising In 2016 Impact made a high grade gold-silver discovery at the Silica Hill Prospect at the Company’s 100% owned Commonwealth gold-silver-base metal project 100 metres north of the known resource at Main Shaft. Drilling has returned both high grades of gold and very high grades of silver in a geological environment 26 Richardson Street West Perth Western Australia 6005 Tel +61 (8) 6454 6666 Facsimile +61 (8) 6454 6667 Email info@impactminerals.com.au www.impactminerals.com.au similar to the significant Eskay Creek deposit in Canada (4 million ounces of gold and 180 million ounces of silver; see announcements dated 22 February 2017, 21 April 2017 and 9 May 2017). Impact has identified numerous targets along trend, at depth and in the surrounding area that require drill testing. The funds raised from the SPP Offer will be used to help fund a drill programme of up to 3,000 metres of reverse circulation and diamond drilling to test these targets. In addition, funds will be used for follow up work including drilling at the high grade Broken Hill coppernickel-PGM project where a recent VTEM survey has identified new targets for follow up work and where follow up drilling is required at the Red Hill and Platinum Springs Prospects which have returned exceptional grades of platinum group metals nickel and copper. Details of the SPP Offer The SPP Offer is only available to Australian and New Zealand shareholders who were registered as Impact shareholders at 5:00pm (WST) on 10 May 2017 (Eligible Shareholders). Eligible Shareholders will be able to purchase parcels of new fully paid ordinary shares valued at $1,000, $3,000, $5,000, $10,000 or $15,000 at an issue price of 1.8 cents per share, without incurring brokerage or transaction costs. The SPP Offer is intended to raise up to approximately $4.0 Million. Eligible shareholders will also be offered three free attaching options exercisable at $0.04 with an expiry date of 15 June 2020 for every two New Shares subscribed for. Any New Shares and Free Attaching Options not subscribed for under the SPP Offer will form a Shortfall and will be offered under a Shortfall Offer (Shortfall Offer). An individual, including an Eligible Shareholder, may apply for additional New Shares and Free Attaching Options under the Shortfall Offer provided they are eligible under all applicable securities laws to receive an offer under the Shortfall Offer. The Directors reserve the right to place some or all of any New Shares and Free Attaching Options which have not been applied for under the SPP Offer or Shortfall Offer, within 3 months of the close of the Offers. The SPP Offer is currently scheduled to close on 9 June 2017. However, Impact reserves the right to close the SPP Offer at any time depending on demand for shares. Eligible Shareholders are therefore encouraged to lodge their applications well ahead of the advertised closing date of 9 June 2017. All New Shares issued under the SPP Offer and Shortfall Offer will rank equally with existing ordinary fully paid shares in the Company. The Board intends to seek Shareholder approval for the purposes of ASX Listing Rule 7.1 for the issue of the New Shares and Free Attaching Options the subject of the SPP Offer and the Shortfall Offer, and for the placement of any remaining shortfall to the SPP Offer and Shortfall Offer, during the three (3) months after the General Meeting (or a longer period of allowed by the ASX), without using the Company’s 15% placement capacity. The Company advises it is awaiting regulatory approval of the required documentation. Full details of the SPP Offer and Shortfall Offer will be contained in a prospectus which is scheduled to be dispatched to Eligible Shareholders on 19 May 2017. Key dates The proposed timetable for the SPP and Shortfall Offer is set out below, however the Directors reserve the right to vary the dates and times without notice. Event Record Date (date for determining Shareholders’ entitlements to participate in SPP Offer) (5:00 WST) Announcement of SPP Offer Lodgement of Prospectus with ASIC Despatch of Prospectus and Opening Date of SPP Offer and Shortfall Offer Closing Date for SPP Offer (5:00 WST) Closing Date for Shortfall Offer (5:00 WST) General Meeting Issue of Offer Securities Quotation of Securities Despatch of Holding Statements for New Shares and Options For further information please contact: Dr Mike Jones Managing Director Impact Minerals Limited +61 8 6454 6666 Date 10 May 2017 11 May 2017 15 May 2017 19 May 2017 9 June 2017 16 June 2017 20 June 2017 21 June 2017 22 June 2017 23 June 2017