Common use of Mine Clause in Contracts

Mine. Paringa's President and Chief Executive Officer, Mr. Xxxxx Xxx, said: "I am very excited that Paringa has executed its cornerstone coal sales agreement with LG&E and KU. The contract is the culmination of over a year of due diligence, negotiations, documentation and approvals on both sides. We are very proud to be contracting with LG&E and KU and we will look forward to contracting additional coal sales as we move towards production." Paringa Resources Limited ("Paringa" or "Company") (ASX: PNL; OTCQX: PNGZF) is pleased to advise that it has executed its "cornerstone" coal sales agreement with Louisville Gas and Electric Company and Kentucky Utilities Company ("LG&E and KU") for future coal sales from the proposed Buck Creek No.1 Mine, totaling US$220 million of contracted sales. Based on feedback from Paringa's potential "tier-1" customers within the Ohio River Market, the Buck Creek No.1 Mine's Coal Handling and Preparation Plant was redesigned as part of the Pre-Feasibility Study ("PFS") released to the ASX in March 2015, to produce both a fully-washed and a blended product. It is estimated that 30% of total sales from the Buck Creek No.1 Mine will be a fully washed 11,800 btu/lb product and 70% of total sales will be a 11,200 btu/lb product. Paringa is expected to begin production at the Buck Creek No.1 Mine in 2018, reaching full production of 3.8mtpa by approximately 2020. Under the coal sales agreement, Paringa is contracted to deliver a total of 4.75 million tons over a 5-year period of its 11,200 btu/lb product, with 750,000 tons to be delivered in 2018 and 1,000,000 tons to be delivered in each year from 2019 to 2022. The Buck Creek No.1 Mine's direct barge access to the Green and Ohio River systems provides a significant transportation advantage. The LG&E and KU coal sales agreement calls for fixed sales prices based on a Free-on-Board ("F.O.B.") Buck Creek No.1 Green River Barge Price", which is equivalent to a price for selling coal at the end of the Buck Creek No.1 Mine's conveyor belt at the Green River barge load-out facility. The contracted fixed coal sales prices for Paringa's 11,200 btu/lb coal spec begins at US$44.50 per ton in 2018, escalating toUS$48.20 per ton in 2022. By adjusting for heating content, the equivalent 11,800 btu/lb coal price implied under this coal sales agreement is US$46.88 for 2018, increasing to US$50.78 by 2022. Provided below is a comparison of the five year (2018 to 2022) weighted average 11,200 btu/lb LG&E and KU contract prices to the PFS sales price assumptions which were adjusted for Paringa's blended 11,200 btu/lb coal product in the PFS: 2018 - 2022 US$46.45 per ton US$47.40 per ton (2%) The LG&E and KU agreement specifies coal specifications for deliveries of Buck Creek No.1 Mine's coal on an "as received" basis: The LG&E and KU agreement includes standard project development milestones that are in line with the proposed Buck Creek No.1 Mine construction program. During this construction period, LG&E and KU will progressively monitor Paringa's performance in meeting these milestones. If the Company fails to achieve the relevant milestones, then LG&E and KU may terminate the agreement and the Company shall have no further obligations. LG&E and KU are subsidiaries of the PPL Corporation (NYSE: PPL) family of companies and are regulated utilities that serve a total of 1.2 million customers. LG&E and KU have consistently ranked among the best companies for customer service in the United States. LG&E and KU own three power plants within Paringa's initial target Ohio River Market (Xxxxxxx County, Ghent and Mill Creek) that are almost exclusively supplied by the Illinois Basin. PPL Corporation is one of the largest investor-owned companies in the US utility sector. PPL Corporation has a Xxxxx'x/S&P investment grade credit rating, market capitalization of US$22.2 billion, US$11.5 billion in 2014 annual revenue and 10.5 million utility customers in the US and UK. The Buck Creek Mining Complex is located in the Western Kentucky region of the Illinois Coal Basin ("ILB") which is one of the most prolific coal producing regions in the United States. Paringa controls over 34,556 gross acres (~13,988 ha) of coal leases within an area of interest of approximately 72,000 acres (~28,000 ha). The Buck Creek Mining Complex is one of the few remaining contiguous high quality thermal coal projects within the Western Kentucky No. 9 ("WK No. 9") seam that is not controlled by one of the major United States coal companies. It offers one of the highest quality, highest heating value products in the ILB. The WK No. 9 is now the second largest producer of coal in the United States by coal seam. The Buck Creek Mining Complex has a JORC Measured and Indicated Coal Resource Estimate of 211 million tons (~192 million tonnes) of high quality thermal coal. The Project's Marketable Ore Reserve is classified as a Proven and Probable Ore Reserve Estimate, of which 16.4 million tons (or 26 percent) is considered proven and 46.3 million tons (or 74 percent) is considered probable. Measured Indicated Total Measured & Indicated Inferred Total Calorific Value Ash Yield 57.7 153.5 211.2 5.3 216.5 11,855 Btu/lb (6,583 Kcal/kg) 8.35% 92.9%

Mine. Paringa's President and Chief Executive Officer, Mr. Xxxxx Xxx, said: "I am very excited that Paringa has executed its cornerstone coal sales agreement with LG&E and KU. The contract is the culmination of over a year of due diligence, negotiations, documentation and approvals on both sides. We are very proud to be contracting with Figure 1: Buck Creek Mine Complex and LG&E and KU KU's Power Plants within the Ohio River Market For further information contact: Figure 2: LG&E and we will look forward to contracting additional coal sales as we move towards production." KU's Xxxxxxx County Power Plant on the Ohio River (Note: Cooling tower is releasing water vapor) President & CEO Vice-President of Business Development Location of the Buck Creek Mining Complex PERTH, Australia, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Paringa Resources Limited ("Paringa" or "Company") (ASX: :PNL; ) (OTCQX: :PNGZF) is pleased to advise that it has executed its "cornerstone" coal sales agreement with Louisville Gas and Electric Company and Kentucky Utilities Company ("LG&E and KU") for future coal sales from the proposed Buck Creek No.1 Mine, totaling US$220 million of contracted sales. Based on feedback from Paringa's potential "tier-1" customers within the Ohio River Market, the Buck Creek No.1 Mine's Coal Handling and Preparation Plant was redesigned as part of the Pre-Feasibility Study ("PFS") released to the ASX in March 2015, to produce both a fully-fully- washed and a blended product. It is estimated that 30% of total sales from the Buck Creek No.1 Mine will be a fully washed 11,800 btu/lb product and 70% of total sales will be a 11,200 btu/lb product. Paringa is expected to begin production at the Buck Creek No.1 Mine in 2018, reaching full production of 3.8mtpa by approximately 2020. Under the coal sales agreement, Paringa is contracted to deliver a total of 4.75 million tons over a 5-year period of its 11,200 btu/lb product, with 750,000 tons to be delivered in 2018 and 1,000,000 tons to be delivered in each year from 2019 to 2022. The Buck Creek No.1 Mine's direct barge access to the Green and Ohio River systems provides a significant transportation advantage. The LG&E and KU coal sales agreement calls for fixed sales prices based on a Free-on-Board ("F.O.B.") Buck Creek No.1 Green River Barge Price", which is equivalent to a price for selling coal at the end of the Buck Creek No.1 Mine's conveyor belt at the Green River barge load-out facility. The contracted fixed coal sales prices for Paringa's 11,200 btu/lb coal spec begins at US$44.50 per ton in 2018, escalating toUS$48.20 to US$48.20 per ton in 2022. By adjusting for heating content, the equivalent 11,800 btu/lb coal price implied under this coal sales agreement is US$46.88 for 2018, increasing to US$50.78 by 2022. Provided below is a comparison of the five year (2018 to 2022) weighted average 11,200 btu/lb LG&E and KU contract prices to the PFS sales price assumptions which were adjusted for Paringa's blended 11,200 btu/lb coal product in the PFS: 2018 - 2022 US$46.45 per ton US$47.40 per ton (2%FOB Barge; 11,200 btu/lb) Difference The LG&E and KU agreement specifies coal specifications for deliveries of Buck Creek No.1 Mine's coal on an "as received" basis: The LG&E and KU agreement includes standard project development milestones that are in line with the proposed Buck Creek No.1 Mine construction program. During this construction period, LG&E and KU will progressively monitor Paringa's performance in meeting these milestones. If the Company fails to achieve the relevant milestones, then LG&E and KU may terminate the agreement and the Company shall have no further obligations. LG&E and KU are subsidiaries of the PPL Corporation (NYSE: :PPL) family of companies and are regulated utilities that serve a total of 1.2 million customers. LG&E and KU have consistently ranked among the best companies for customer service in the United States. LG&E and KU own three power plants within Paringa's initial target Ohio River Market (Xxxxxxx County, Ghent and Mill Creek) that are almost exclusively supplied by the Illinois Basin. PPL Corporation is one of the largest investor-owned companies in the US utility sector. PPL Corporation has a Xxxxx'x/S&P investment grade credit rating, market capitalization of US$22.2 billion, US$11.5 billion in 2014 annual revenue and 10.5 million utility customers in the US and UK. The Buck Creek Mining Complex is located in the Western Kentucky region of the Illinois Coal Basin ("ILB") which is one of the most prolific coal producing regions in the United States. Paringa controls over 34,556 gross acres (~13,988 ha) of coal leases within an area of interest of approximately 72,000 acres (~28,000 ha). The Buck Creek Mining Complex is one of the few remaining contiguous high quality thermal coal projects within the Western Kentucky No. 9 ("WK No. 9") seam that is not controlled by one of the major United States coal companies. It offers one of the highest quality, highest heating value products in the ILB. The WK No. 9 is now the second largest producer of coal in the United States by coal seam. The Buck Creek Mining Complex has a JORC Measured and Indicated Coal Resource Estimate of 211 million tons (~192 million tonnes) of high quality thermal coal. The Project's Marketable Ore Reserve is classified as a Proven and Probable Ore Reserve Estimate, of which 16.4 million tons (or 26 percent) is considered proven and 46.3 million tons (or 74 percent) is considered probable. Measured Indicated Total Measured & Indicated Inferred Total Calorific Value Ash Yield 57.7 153.5 211.2 5.3 216.5 11,855 Btu/lb (6,583 Kcal/kg) 8.35% 92.9%.

Mine. Paringa's Xxxxxxx’s President and Chief Executive Officer, Mr. Xxxxx Xxx, said: "“I am very excited that Paringa Xxxxxxx has executed its cornerstone coal sales agreement with LG&E and KU. The contract is the culmination of over a year of due diligence, negotiations, documentation and approvals on both sides. We are very proud to be contracting with LG&E and KU and we will look forward to contracting additional coal sales as we move towards production." ”. For further information contact: President & CEO Vice-President of Business Development Head Office: 0000 X Xxxxxx Xxxxxx, Suite B | Evansville | Indiana | 47715 New York Office: 0 X 00xx Xxxxxx, 0xx Xxxxx | Xxx Xxxx | XX | 00000 Registered Office: Xxxxx 0, XXX Xxxxxx, 00 Xxx Xxxxxxxxx | Xxxxx | XX | 0000 Email: xxxx@xxxxxxxxxxxxxxxx.xxx Website: xxx.xxxxxxxxxxxxxxxx.xxx ABN: 44 155 922 010 Paringa Resources Limited ("“Paringa" ” or "“Company"”) (ASX: PNL; OTCQX: PNGZF) is pleased to advise that it has executed its "“cornerstone" ” coal sales agreement with Louisville Gas and Electric Company and Kentucky Utilities Company ("“LG&E and KU"”) for future coal sales from the proposed Buck Creek No.1 Mine, totaling US$220 million of contracted sales. Based on feedback from Paringa's ’s potential "“tier-1" ” customers within the Ohio River Market, the Buck Creek No.1 Mine's ’s Coal Handling and Preparation Plant was redesigned as part of the Pre-Feasibility Study ("“PFS"”) released to the ASX in March 2015, to produce both a fully-washed and a blended product. It is estimated that 30% of total sales from the Buck Creek No.1 Mine will be a fully washed 11,800 btu/lb product and 70% of total sales will be a 11,200 btu/lb product. Paringa Xxxxxxx is expected to begin production at the Buck Creek No.1 Mine in 2018, reaching full production of 3.8mtpa by approximately 2020. Under the coal sales agreement, Paringa is contracted to deliver a total of 4.75 million tons over a 5-year period of its 11,200 btu/lb product, with 750,000 tons to be delivered in 2018 and 1,000,000 tons to be delivered in each year from 2019 to 2022. The Buck Creek No.1 Mine's ’s direct barge access to the Green and Ohio River systems provides a significant transportation advantage. The LG&E and KU coal sales agreement calls for fixed sales prices based on a Free-on-Board ("“F.O.B."”) Buck Creek No.1 Green River Barge Price"”, which is equivalent to a price for selling coal at the end of the Buck Creek No.1 Mine's ’s conveyor belt at the Green River barge load-out facility. The contracted fixed coal sales prices for Paringa's ’s 11,200 btu/lb coal spec begins at US$44.50 per ton in 2018, escalating toUS$48.20 to US$48.20 per ton in 2022. By adjusting for heating content, the equivalent 11,800 btu/lb coal price implied under this coal sales agreement is US$46.88 for 2018, increasing to US$50.78 by 2022. Provided below is a comparison of the five year (2018 to 2022) weighted average 11,200 btu/lb LG&E and KU contract prices to the PFS sales price assumptions which were adjusted for Paringa's ’s blended 11,200 btu/lb coal product in the PFS: 2018 - 2022 US$46.45 per ton US$47.40 per ton (2%) The LG&E and KU agreement specifies coal specifications for deliveries of Buck Creek No.1 Mine's ’s coal on an "“as received" ” basis: The LG&E and KU agreement includes standard project development milestones that are in line with the proposed Buck Creek No.1 Mine construction program. During this construction period, LG&E and KU will progressively monitor Paringa's Xxxxxxx’s performance in meeting these milestones. If the Company fails to achieve the relevant milestones, then LG&E and KU may terminate the agreement and the Company shall have no further obligations. LG&E and KU are subsidiaries of the PPL Corporation (NYSE: PPL) family of companies and are regulated utilities that serve a total of 1.2 million customers. LG&E and KU have consistently ranked among the best companies for customer service in the United States. LG&E and KU own three power plants within Paringa's ’s initial target Ohio River Market (Xxxxxxx Trimble County, Ghent and Mill Creek) that are almost exclusively supplied by the Illinois Basin. PPL Corporation is one of the largest investor-owned companies in the US utility sector. PPL Corporation has a Xxxxx'xMoody’s/S&P investment grade credit rating, market capitalization of US$22.2 billion, US$11.5 billion in 2014 annual revenue and 10.5 million utility customers in the US and UK. The Buck Creek Mining Complex is located in the Western Kentucky region of the Illinois Coal Basin ("ILB") which is one of the most prolific coal producing regions in the United States. Paringa controls over 34,556 gross acres (~13,988 ha) of coal leases within an area of interest of approximately 72,000 acres (~28,000 ha). The Buck Creek Mining Complex is one of the few remaining contiguous high quality thermal coal projects within the Western Kentucky No. 9 ("WK No. 9") seam that is not controlled by one of the major United States coal companies. It offers one of the highest quality, highest heating value products in the ILB. The WK No. 9 is now the second largest producer of coal in the United States by coal seam. The Buck Creek Mining Complex has a JORC Measured and Indicated Coal Resource Estimate of 211 million tons (~192 million tonnes) of high quality thermal coal. The Project's Marketable Ore Reserve is classified as a Proven and Probable Ore Reserve Estimate, of which 16.4 million tons (or 26 percent) is considered proven and 46.3 million tons (or 74 percent) is considered probable. Measured Indicated Total Measured & Indicated Inferred Total Calorific Value Ash Yield 57.7 153.5 211.2 5.3 216.5 11,855 Btu/lb (6,583 Kcal/kg) 8.35% 92.9%.

Mine. Paringa's President and Chief Executive Officer, Mr. Xxxxx Xxx, said: "I said:"I am very excited that Paringa has executed its cornerstone coal sales agreement with LG&E and KU. The contract is the culmination of over a year of due diligence, negotiations, documentation and approvals on both sides. We are very proud to be contracting with LG&E and KU and we will look forward to contracting additional coal sales as we move towards production." Paringa Resources Limited ("Paringa" or "Company") (ASX: PNL; OTCQX: PNGZF) is pleased to advise that it has executed its "cornerstone" coal sales agreement with Louisville Gas and Electric Company and Kentucky Utilities Company ("LG&E and KU") for future coal sales from the proposed Buck Creek No.1 Mine, totaling US$220 million of contracted sales. Based on feedback from Paringa's potential "tier-1" customers within the Ohio River Market, the Buck Creek No.1 Mine's Coal Handling and Preparation Plant was redesigned as part of the Pre-Feasibility Study ("PFS") released to the ASX in March 2015, to produce both a fully-fully- washed and a blended product. It is estimated that 30% of total sales from the Buck Creek No.1 Mine will be a fully washed 11,800 btu/lb product and 70% of total sales will be a 11,200 btu/lb product. Paringa is expected to begin production at the Buck Creek No.1 Mine in 2018, reaching full production of 3.8mtpa by approximately 2020. Under the coal sales agreement, Paringa is contracted to deliver a total of 4.75 million tons over a 5-year period of its 11,200 btu/lb product, with 750,000 tons to be delivered in 2018 and 1,000,000 tons to be delivered in each year from 2019 to 2022. The Buck Creek No.1 Mine's direct barge access to the Green and Ohio River systems provides a significant transportation advantage. The LG&E and KU coal sales agreement calls for fixed sales prices based on a Free-on-Board ("F.O.B.") Buck Creek No.1 Green River Barge Price", which is equivalent to a price for selling coal at the end of the Buck Creek No.1 Mine's conveyor belt at the Green River barge load-out facility. The contracted fixed coal sales prices for Paringa's 11,200 btu/lb coal spec begins at US$44.50 per ton in 2018, escalating toUS$48.20 to US$48.20 per ton in 2022. By adjusting for heating content, the equivalent 11,800 btu/lb coal price implied under this coal sales agreement is US$46.88 for 2018, increasing to US$50.78 by 2022. Provided below is a comparison of the five year (2018 to 2022) weighted average 11,200 btu/lb LG&E and KU contract prices to the PFS sales price assumptions which were adjusted for Paringa's blended 11,200 btu/lb coal product in the PFS: Table 2: Comparison of LG&E and KU, and PFS Model Weighted Average Contract Pric Year LG&E and KU Weighted Average Contract Price (FOB Barge; 11,200 btu/lb) PFS Model Weighted Averag (FOB Barge; 11,200 btu/lb) 2018 - 2022 US$46.45 per ton US$47.40 per ton (2%) The LG&E and KU agreement specifies coal specifications for deliveries of Buck Creek No.1 Mine's coal on an "as received" basis: Table 3: Summary of LG&E and KU Contract Coal Specifications Specifications Guaranteed Monthly Weighted Average Heating Content (Btu/lb) min. 11,200 Btu/lb Moisture max. 10.00 lbs/mmbtu Ash max. 11.00 lbs/mmbtu Chlorine max. 0.18 lbs/mmbtu The LG&E and KU agreement includes standard project development milestones that are in line with the proposed Buck Creek No.1 Mine construction program. During this construction period, LG&E and KU will progressively monitor Paringa's performance in meeting these milestones. If the Company fails to achieve the relevant milestones, then LG&E and KU may terminate the agreement and the Company shall have no further obligations. LG&E and KU are subsidiaries of the PPL Corporation (NYSE: PPL) family of companies and are regulated utilities that serve a total of 1.2 million customers. LG&E and KU have consistently ranked among the best companies for customer service in the United States. LG&E and KU own three power plants within Paringa's initial target Ohio River Market (Xxxxxxx County, Ghent and Mill Creek) that are almost exclusively supplied by the Illinois Basin. PPL Corporation is one of the largest investor-owned companies in the US utility sector. PPL Corporation has a Xxxxx'x/S&P investment grade credit rating, market capitalization of US$22.2 billion, US$11.5 billion in 2014 annual revenue and 10.5 million utility customers in the US and UK. The Buck Creek Mining Complex is located in the Western Kentucky region of the Illinois Coal Basin ("ILB") which is one of the most prolific coal producing regions in the United States. Paringa controls over 34,556 gross acres (~13,988 ha) of coal leases within an area of interest of approximately 72,000 acres (~28,000 ha). The Buck Creek Mining Complex is one of the few remaining contiguous high quality thermal coal projects within the Western Kentucky No. 9 ("WK No. 9") seam that is not controlled by one of the major United States coal companies. It offers one of the highest quality, highest heating value products in the ILB. The WK No. 9 is now the second largest producer of coal in the United States by coal seam. The Buck Creek Mining Complex has a JORC Measured and Indicated Coal Resource Estimate of 211 million tons (~192 million tonnes) of high quality thermal coal. The Project's Marketable Ore Reserve is classified as a Proven and Probable Ore Reserve Estimate, of which 16.4 million tons (or 26 percent) is considered proven and 46.3 million tons (or 74 percent) is considered probable. CRE Tonnage (Mt) Coal Quality (+4% Eq. Moisture Measured Indicated Total Measured & Indicated Inferred Total Calorific Value Ash Yield Yiel 57.7 153.5 211.2 5.3 216.5 11,855 Btu/lb (6,583 Kcal6,583Kcal/kg) 8.35% 92.9%92.