White Rock Minerals Ltd (ASX:WRM) provides the Company's Entitlement Offer Prospectus. A non renounceable entitlement offer of New Shares on a 1 for 3 basis at an issue price of $0.01 per New Share and New Options on the basis of 1 for every 2 New Shares (exercisable at $0.02 expiring 26 March 2021), with the ability to apply for additional New Shares and New Options.

Chairman's Letter

On behalf of the Board of White Rock Minerals Limited (White Rock), it is my pleasure to invite you to participate in a pro rata, non-renounceable entitlement offer of 1 new fully paid ordinary share in White Rock (New Shares) for every 3 Shares held by you on the Record Date (7.00 pm (Melbourne time) on 3 April 2018) at an issue price of $0.01 (1 cent) per New Share together with 1 for 2 new options for every New Share exercisable at $0.02 (2 cents) expiring 26 March 2021 (New Options) (together Entitlement Offer) to raise up to $3,570,261 (before costs).

On 21 March 2018, White Rock announced an equity raising of up to $5.2 million, comprising a placement to certain institutional and sophisticated investors to raise approximately $1.6 million (Placement) and the Entitlement Offer (together, the Equity Raising). The Placement is expected to complete on 27 March 2018. This Entitlement Offer Prospectus relates to the Entitlement Offer.

Funds raised from the Equity Raising (after costs) will be used to fund White Rock's exploration activities at its globally significant high-grade zinc VMS Red Mountain Project in Alaska and for general working capital purposes.

Overview of Entitlement Offer

The Entitlement Offer is being made to all eligible shareholders (Eligible Shareholders) who are registered as a holder of White Rock Shares as at 7.00 pm (Melbourne time) on 3 April 2018 (Record Date).

Each Director who holds shares in White Rock, or controls an entity that holds shares in White Rock, has indicated that they intend to participate in the Entitlement Offer.

Under the Entitlement Offer, Eligible Shareholders have the opportunity to subscribe for 1 New Share for every 3 Shares of which they are the registered holder at 7.00 pm (Melbourne time) on the Record Date at an issue price of $0.01 (1 cent) per New Share and 1 for 2 New Options for every New Share exercisable at $0.02 (2 cents) expiring 26 March 2021 (Issue Price). The Entitlement Offer is non-renounceable. Eligible Shareholders are also invited to apply for additional New Shares and 1 for 2 New Options in excess of their entitlement under the Top-Up Facility if there is a shortfall between applications received from Eligible Shareholders and the number of New Shares and New Options proposed to be issued under the Entitlement Offer.

DJ Carmichael Pty Limited is acting as the lead manager and underwriter to the Entitlement Offer (Lead Manager or Underwriter). The Lead Manager has underwritten the Entitlement Offer to the first $1,600,000. The directors have reserved the right to place any shortfall within 3 months of lodgement of this Prospectus.

The Issue Price represents a discount of:

- 33% to the price of White Rock shares as at the close of trading on 16 March 2018, being the last day of trading of White Rock shares before the Entitlement Offer was announced; and

- 25% and 22% to the 15 trading day and one month volume weighted average price (VWAP) respectively of White Rock shares prior to the announcement of the Entitlement Offer.

Further information about White Rock is also contained in the Investor Presentation in connection with the Equity Raising, which was released to the ASX on 21 March 2018. A copy of the Investor Presentation is available from the ASX website (www.asx.com.au) and on White Rock's website (www.whiterockminerals.com.au).

Underwriting Arrangements

The Entitlement Offer is lead managed and underwritten by the Lead Manager pursuant to an underwriting agreement dated 20 March 2018 (Underwriting Agreement). Further details regarding the underwriting arrangements are set out in Sections 3.3 and 7.17.

Action you should take

The Entitlement Offer is currently scheduled to close at 5.00 pm (Melbourne time) on 19 April 2018. If you wish to subscribe for New Shares, you must ensure that your application and payment is received by this time in accordance with the instructions set out in Section 3.4.

This Entitlement Offer Prospectus contains important information regarding the Entitlement Offer, and I encourage you to read it carefully before making any investment decision. If you have any questions, you should consult your financial or other professional adviser.

For any enquiries please call Security Transfer Australia Pty Ltd as Share Registry on +61 8 9315 2333, or contact your stockbroker, accountant or other professional adviser.

To view the full Entitlement Offer Prospectus, please visit:

To view Entitlement Offer - Information for Optionholders, please visit:

To view Entitlement Offer - Information for Shareholders, please visit:

About White Rock Minerals Ltd

White Rock Minerals Ltd (ASX:WRM) is an Australian listed minerals exploration and development company with projects located in northern NSW (gold and silver) and central Alaska (zinc, silver, lead and gold). The White Rock vision is to explore and develop both precious and base metal projects.

White Rock's cornerstone asset is the Mt Carrington epithermal gold-silver project in northern NSW. The Mt Carrington project has great leverage to the Australian gold and silver prices with a positive scoping study providing a path towards feasibility studies and development in the near term.

White Rock is also exploring the Red Mountain project in Alaska. Red Mountain is a globally significant advanced VMS project with high grade zinc and silver in two deposits. White Rock is exploring for additional high grade deposits that will enhance the projects leverage to an upturn in the fortunes of zinc and silver.



White Rock Minerals Ltd
WWW: www.whiterockminerals.com.au

Link: White Rock Minerals - Entitlement Offer Prospectus

Link: Entitlement Offer Letter to Optionholders

Link: Entitlement Offer Letter to Shareholders

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White Rock Minerals Ltd

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