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Delrand Resources Limited - Further Announcement Regarding Proposed Private Placement Financing

Release Date: 20/06/2016 17:45:00      Code(s): DRN     
Delrand Resources Limited
(Incorporated in Canada)
(Corporation number 627115-4)
Share code: DRN ISIN Number: CA2472672062
(?Delrand? or the "Company")

FURTHER ANNOUNCEMENT REGARDING PROPOSED PRIVATE PLACEMENT FINANCING

Shareholders are refered to the announcement released on 15 June 2016 and are advised that
Delrand?s proposed private placing of up to 300,000 common shares at a price of Cdn$0.40 per
share for gross proceeds of up to Cdn$120,000 (the ?Offering?) will be subject to the Listings
Requirements of the Johannesburg Stock Exchange (?JSE?), in addition to the approval of NEX.

The Offering will not be to related parties as defined in the JSE Listings Requirements.

The subscription price for the common shares is at a premium to the 30 day Volume Weighted
Average Price on the JSE as at 10 June 2016, being the date on which the Offering was agreed
between the parties. The common shares will rank equally and be of the same class as the
common shares already in issue.

Due to the different requirements between NEX and the JSE and the fact that the shares are to
be issued on the Canadian share register, the Company will approach the JSE for further
guidance with respect to the application of the JSE Listings Requirements in the circumstances.

A further announcement will be released in due course.


Johannesburg
20 June 2016

Sponsor
Arbor Capital Sponsors Proprietary Limited

Date: 20/06/2016 05:45:00 Supplied by www.sharenet.co.za                     
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