Further announcement regarding proposed private placement financing 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 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.