ACROW LIMITED — Capital/Financing Update 2010

Jun 10, 2010

11 JUNE 2010

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Completion of Share Purchase Plan

ASX MEDIA RELEASE

Noble Mineral Resources Limited (ASX NMG) is pleased to announce that the Company’s May 2010 Share Purchase Plan which closed last week has raised $3,406,500. As a result, 11,354,999 new shares have been allotted to 386 participating shareholders.

These proceeds, combined with the recently completed $36.8 million placement, will more than satisfy the minimum working capital requirements associated with the Bibiani Gold Project acquisition. The combined raisings will be used to fund:

• the $8m refurbishment of the 2.7mtpa gold processing plant;

• the first stage of the $8m open pit cut-back to access the previously announced gold resources;

• the Company’s $9m 2010-2011 exploration program targeting new open cut resources at the Bibiani Gold Project and the adjacent concessions;

• exploration on other concessions in the Ashanti Gold Belt.

The Company has recently acquired its own drilling rig with drilling expected to commence in July 2010 with first results due soon after.

Noble expresses its appreciation to participating shareholders for their response to the Share Purchase Plan Offer and looks forward to advising of the Company’s progress.

The Company’s ASX Appendix 3B, Application for Quotation of Additional Securities, is attached.

Authorised by:

Wayne Norris Managing Director

About Noble Mineral Resources Limited

Noble Mineral Resources Ltd listed on the Australian Securities Exchange on 26 June 2008 with a focus on exploring for large-scale gold deposits in the world-class Ashanti Gold Belt in Ghana.

In November 2009, the Company entered into an agreement for the acquisition of the Bibiani Gold Mine , a project located in the Sefwi-Bibiani Gold belt in Ghana, host to over 30 million ounces of gold..

Noble’s other primary gold concessions are two Exploration Licences, Cape Three Points and Tumentu , which cover some 88km² and are located within the world-class Ashanti Gold Belt in south eastern Ghana. Ghana is the second largest gold producer in the African continent and is the 10[th] largest gold producing nation in the world, with annual production of approximately 2.4 million ounces.

Noble’s ongoing focus will be to evaluate the Cape Three Points Concession within the southern extension of the Ashanti Gold Belt. Initial exploration will be targeted towards the Satin Mine Project and the Morrison Project, which both lie in an area of historic underground gold production. Noble believes that there is significant potential for the delineation of additional high-grade gold mineralisation relating to the down-plunge and strike extension to these zones.

As well as these more advanced exploration opportunities, the Cape Three Points concession hosts three other project areas for immediate follow-up and five lower-priority prospect areas that Noble has earmarked for ongoing exploration.

ASX Code: NMG

www.nobleminres.com.au

A C N 1 2 4 8 9 3 4 6 5

15 B owm an S tr eet , S out h P er t h, W es t er n A us tr ali a, 6151 PO B ox 1021, S out h P ert h, W es t er n A us tr ali a, 6951 T: ( 61- 8) 9474 6771 F: ( 61-8) 9474 6772 W : www. nobl emi nres .c om . au

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

NOBLE MINERAL RESOURCES LIMITED

ABN

36 124 893 465

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued 2 Number of +securities issued or to be issued (if known) or maximum number which may be issued 3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Shares.
	11,354,999.
	Fully paid ordinary shares.

• See chapter 19 for defined terms.

24/10/2005Appendix 3B Page 1

Appendix 3B New issue announcement

4 Do the[+] securities rank equally in all Yes. respects from the date of allotment with an existing +class of quoted +securities? If the additional securities do not rank equally, please state:  the date from which they do  the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment  the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or consideration $0.30 per share. 6 Purpose of the issue The shares have been issued pursuant to an offer (If issued as consideration for the made under the Company’s Share Purchase Plan. acquisition of assets, clearly identify The funds raised from the issue are those assets) supplementary to the recently completed placement and will be applied to the acquisition of the Bibiani Gold Project, and to ensure prudent working capital levels are maintained. 7 Dates of entering[+] securities into 11 June 2010. uncertificated holdings or despatch of certificates Number +Class 8 Number and +class of all +securities quoted on ASX 182,127,317 Ordinary fully paid shares. ( including the securities in clause 2 if applicable) .

• See chapter 19 for defined terms.

24/10/2005

Appendix 3B Page 2

Appendix 3B New issue announcement

9 Number and +class of all +securities not quoted on ASX (_including_the securities in clause 2 if applicable) 10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	Number	+Class
	111,037,500	Ordinary fully paid shares.
	Not Applicable

Part 2 - Bonus issue or pro rata issue

Questions 11 to 33 Not Applicable

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities ( tick one )

• (a) Securities described in Part 1 (b) All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Questions 35 to 37 - Not Applicable

Entities that have ticked box 34(b)

Questions 38 to 42 - Not Applicable

• See chapter 19 for defined terms.

24/10/2005

Appendix 3B Page 3

Appendix 3B New issue announcement

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted[+] quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

  • Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:

..........................................................

Date: 11 June 2010

(Director)

Print name:

Alan Taylor

• See chapter 19 for defined terms.

24/10/2005

Appendix 3B Page 4