Holding(s) in Company

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Scotgold Resources Limited

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Conversion of Convertible Note

X

3. Full name of person(s) subject to thenotification obligation: iii

Richard Milne Harris

4. Full name of shareholder(s) (if different from 3.):iv

Richard Milne Harris

Golden Matrix Holdings Pty Ltd

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

2 September 2016

6. Date on which issuer notified:

6 September 2016

7. Threshold(s) that is/are crossed orreached: vi, vii

3% and 4%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

42,999,999

42,999,999

67,999,999

67,999,999

4.42%

Ordinary shares

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

N/A

N/A

N/A

N/A

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

N/A

N/A

N/A

N/A

Nominal

Delta

N/A

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

67,999,999

4.42%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Richard Milne Harris holds 22,500,000 ordinary shares in Scotgold Resources Limited

Golden Matrix Holdings Pty Ltd (a company 100% controlled by Richard Milne Harris) holds

45,499,999 ordinary shares in Scotgold Resources Limited.

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

N/A

14. Contact name:

Richard Milne Harris

15. Contact telephone number:

+44 (0) 7789070951