Reference is made to the announcements dated 25 November 2013, 3 March 2014 and 10 June 2014 wherein it was announced that:

(a) Octagon, Malaco Mining and Malaco Leichhardt had on 25 November 2013 entered into the JDA which was subsequently superceded with the execution of the Restated JDA on 3 March 2014. The Restated JDA was varied on 10 June 2014 with the execution of the Supplemental Restated JDA (“1^st Supplemental Restated JDA”); and

(b) Octagon and Malaco Leichhardt had had on 25 November 2013 entered into the OA which was subsequently superceded with the execution of the Restated OA on 3 March 2014. The Restated OA was varied on 10 June 2014 with the execution of the Supplemental Restated OA (“1^st Supplemental Restated OA”).

The Restated JDA and 1^st Supplemental Restated JDA shall be herein collectively referred to as “Restated JDA” and the Restated OA and 1^st Supplemental Restated OA shall be herein collectively referred to as “Restated OA”.

On behalf of the Board of Directors of Octagon, M&A Securities wishes to announce that:

(a) Octagon, Malaco Mining and Malaco Leichhardt have on 23 October 2014 entered into a second Supplemental Restated JDA (“2^nd Supplemental Restated JDA”) to vary certain terms and condition of the Restated JDA; and

(b) Octagon and Malaco Leichhardt have on 23 October 2014 entered into a second Supplemental Restated OA (“2^nd Supplemental Restated OA”) to vary a term and condition of the Restated OA.

This announcement should be read in conjunction with the previous announcements dated 25 November 2014, 3 March 2014 and 10 June 2014 (“Announcements”). Unless otherwise stated, abbreviations used in this announcement are as defined in the Announcements. Save for terms expressly mentioned herein, all other salient terms as announced by Octagon in announcements dated 3 March 2014 and 10 June 2014 remains unchanged.

As such, Section 2.1.2 of the announcement dated 25 November 2013 (which has subsequently been varied via the executions of the Restated JDA and 1^st Supplemental Restated JDA) is hereby varied as follows:

2.1.2 Salient Terms of the Agreements

(1) The Second Supplemental Restated JDA

(i) Octagon, Malaco Mining and Malaco Leichhardt have mutually agreed to enter into the 2^nd Supplemental Restated JDA to amend and vary certain terms and conditions to the Restated JDA.

(ii) The Parties mutually agreed that the Restated JDA shall be accordingly varied via the 2^nd Supplemental Restated JDA, inter alia, as follows:-

(a) That, the Clause 4.1 of the Restated JDA shall be amended as follows:

"The payment of Consideration shall be made by Octagon to Malaco Mining or its nominated assignee on the Unconditional Date or such other time as may be mutually agreed by the Parties in writing (Payment Date) in the following manners:-

(i) an aggregate sum of United States Dollars Fifteen Million (USD15,000,000.00), only in full and in cash in consideration of Malaco Mining granting Octagon the Development Rights to conduct Mining Operations of Copper Resources of not less than 40,000 tonnes in the Operation Area for the Production Period (“Mining Rights Consideration”); and

(ii) an aggregate sum of United States Dollars Fifteen Million (USD15,000,000.00), only in full and in cash as advance lease rentals for the lease of the Process Plant and Infrastructure with the Increased Production Capacity for the Production Period (“Lease Rental”).”

(b) That, a new Clause 4.1A shall be added as follows:

“4.1A.1 In assisting Octagon to calculate the estimated tonnage of Copper Resources which can be produced by Octagon ("Additional Mount Watson Copper Resources") in excess of 40,000 tonnes (“Minimum Resources”) in the Operations Area during the Production Period, Malaco Leichhardt shall, on or before the expiry of the third (3^rd) anniversary (being thirty six (36) months) of the Unconditional Date, furnish Octagon with resource estimation report(s) prepared in accordance with the prevailing Joint Ore Reserves Committee ("JORC") Code for Copper Resources in the Operations Area.

4.1A.2 The Parties hereby agree and acknowledge that there shall be no additional consideration above the Mining Rights Consideration payable by Octagon to Malaco Mining or its nominated assignee in relation to the Additional Mount Watson Copper Resources (if any) from the Operations Area during the Production Period in excess of the Minimum Resources.”

(c) That, Clause 5.6(d) of the Restated JDA be amended to insert the following:

“Based on the present terms and conditions stipulated in the Restated JDA and the Restated between Malaco Leichhardt and Octagon OA (as supplemented), Malaco Leichhardt confirms that no additional fees shall be charged to Octagon to facilitate the sale of Copper Cathodes by Octagon to Glencore.”

(2) The Second Supplemental Restated OA

(i) Octagon and Malaco Leichhardt have mutually agreed to enter into the 2^nd Supplemental Restated OA to amend and vary certain terms and conditions to the Restated OA that the Restated OA shall be varied as follows:-

“2.1 That Clause 3.1(e) of the Restated OA be amended by inserting the following at the end of the sub-Clause:

“Based on the terms and conditions stipulated in the Restated JDA between Octagon, Malaco Mining and Malaco Leichahrdt (as supplemented) and the Restated OA, Malaco Leichhardt hereby agrees that no additional fees shall be charged to Octagon to facilitate the sale of Copper Cathodes by Octagon to Glencore.”

The 2^nd Supplemental Restated JDA and 2^nd Supplemental Restated OA are available for inspection at the registered office of Octagon at 2A, Jalan Gambus 33/4, Taman Perindustrian Elite, Seksyen 33, 40400 Shah Alam, Selangor during normal business hours on Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this announcement.

This announcement is dated 23 October 2014.