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BLACKGOLD NATURAL RESOURCES TO FURTHER RAISE S$3.23 MILLION THROUGH SECOND SHARE PLACEMENT

• Issue of 35,937,000 million shares at S$0.09 per share
• Gross proceeds of S$3.23 million to further strengthen working capital & for
preparation work on the Riau 1 Project


Singapore, 27 March 2017 – BlackGold Natural Resources Limited (“BlackGold” or the
“Company” and together with its subsidiaries, the “Group”) is pleased to announce that the
Group has entered into a share placement agreement (the “Placement”) pursuant to which
the Group intends to issue 35,937,000 new ordinary shares in the capital of the Company (the
“Placement Shares”) at S$0.09 per share to raise gross proceeds of up to S$3.23 million.


The placement price of S$0.09 per Placement Share represents a discount of approximately
6.83% to the volume weighted average price of S$0.096 for trades done on the Catalist of the
Singapore Exchange Securities Trading Limited (“SGX-ST”) on 21 March 2017.


The Company intends to use the net proceeds to further strengthen the working capital
position of the Group, and preliminary preparation work for the development of a 2 x 300 MW
coal – fired power plant in Riau province, Indonesia (the “Riau 1 Project"). The Riau 1 Project
is a joint cooperation project with China Huadian Engineering Co., Ltd., as previously
announced by the Company on 28 December 2015.


The Group has previously announced on 10 March 2017 that it had signed a separate
placement agreement with Mr Johanes Budisutrisno Kotjo for the proposed placement of
39,511,564 new shares in the capital of the Company (the “First Placement”) to raise gross
proceeds of up to S$3.56 million. As of the date of this press release, the Additional Listing
Application in relation to the First Placement has been submitted to the SGX-ST for approval.


Mr Philip Cecil Rickard, Executive Director and Chief Executive Officer of the Group
commented: “We are very encouraged by the strong interest from seasoned and accredited
investors in BlackGold. This second placement further affirms investor confidence in the
Company’s growth prospects. The proceeds from this second placement will enable us to
continue development plans for our assets.”


SAC Capital Private Limited has been appointed as the placement agent to procure
subscribers for the Placement on a best endeavours basis. The Placement is subject to the
fulfilment of certain conditions, including approval from the SGX-ST.


The sponsor of the Company, SAC Advisors Private Limited, will be making an application on
behalf of the Company to the SGX-ST for the dealing in, listing and quotation of the Placement
Shares on Catalist of the SGX-ST.

This press release is to be read in conjunction with the Company’s announcement posted on
the SGXNET on 27 March 2017