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FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2015

MDL's primary asset is a 50% interest in the TiZir joint venture ('TiZir'), which owns the Grande C?te mineral sands operation ('GCO') in Senegal, West Africa and the TiZir Titanium & Iron ilmenite upgrading facility ('TTI') in Tyssedal, Norway.  ERAMET of France is MDL's 50% joint venture partner in TiZir.

(Denominated in United States Dollars unless otherwise stated)

HIGHLIGHTS

?         Underlying net loss of $27.2 million

?         MDL's share of TiZir's underlying loss totalled $33.5 million

?         GCO recorded an EBITDA loss of $7.4 million - final five months of the year were EBITDA positive

?         TTI recorded an EBITDA of $3.9 million - a strong result given a three month shutdown for the furnace reline and capacity expansion project

?         As a consequence of the prevailing market environment and declining commodity prices, MDL has recognised an impairment loss related to its investment in TiZir of $26.7 million during the year - MDL's share amounted to $12.0 million

  To read today's full announcement click here.

  To download the full 2015 Financial Report click here.

Mineral Deposits Limited  ABN 19 064 377 420

Level 17 530 Collins Street  Melbourne VIC 3000 Australia  T +613 9618 2500  F +613 9621 1460

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