ACROW LIMITED — Share Issue/Capital Change 2010

Jul 11, 2010

ANNOUNCEMENT

12 JULY 2010

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ALLOTMENT OF SHARES AND OPTIONS

Noble Mineral Resources Ltd (ASX: NMG) is pleased to announce that it has allotted 4,000,000 fully paid ordinary shares ( Shares ) in the Company and 6,000,000 options exercisable at 20 cents each on or before 8 July 2014 ( Options ) as part of the acquisition of a 100% interest in Central African Gold Ghana Limited ( CAGG ), the owner of the Bibiani Gold Project.

Shareholder approval was obtained at the Company’s General Meeting held 26 May 2010 for the issue of the Shares and Options to the vendor of CAGG.

Following this announcement is an Appendix 3B relevant to the Shares and Options allotted.

Authorised by:

Alan Taylor Finance Director

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) 474 6771 F : ( 61- 8) 9474 6772 W: www. nobl emi nr es .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 and Options.
	4,000,000 Shares; and 6,000,000 Options.
	Fully paid ordinary shares (“Shares”); and Options exercisable at 20 cents each on or before 8 July 2014 (“Options”).

• 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 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 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets) 7 Dates of entering +securities into uncertificated holdings or despatch of certificates 8 Number and +class of all +securities quoted on ASX (_including_the securities in clause 2 if applicable)	No. Options over unissued shares may only be exercised in accordance with their terms and conditions. Upon conversion of the options to shares, the shares will rank equally with existing shares.	No. Options over unissued shares may only be exercised in accordance with their terms and conditions. Upon conversion of the options to shares, the shares will rank equally with existing shares.
	Deemed issue price of:  $0.30 per Share; and  nil per Option.
	The Shares and Options have been issued pursuant to shareholder approval, as part consideration for the acquisition of 100% interest in Central African Gold Ghana Limited, the owner of the Bibiani Gold Project.
	8 July 2010.
	Number	+Class
	297,731,484 74,432,871 74,432,871	Ordinary fully paid shares. Options exercisable at $0.30 each on or before 21 July 2011 (“Bonus 12-month Option”). Options exercisable at $0.35 each on or before 21 July 2013 (“Bonus 36-month Option”).
	.

• 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)	Number	+Class
	6,000,000	Options exercisable at $0.20 each on or before 8 July 2014.

• 10 Dividend policy (in the case of a Not Applicable trust, distribution policy) on the increased capital (interests)

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:

.......................................................... (Finance Director)

Date: 12 July 2010

Print name: Alan Taylor

• See chapter 19 for defined terms.

24/10/2005

Appendix 3B Page 4