ACROW LIMITED — Share Issue/Capital Change 2012

May 6, 2012

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 tobe issued2Number of +securities issued or tobe issued (if known) or maximumnumber which may be issued3Principal terms of the +securities(eg, if options, exercise price andexpirydate;ifpartlypaid+securities,theamountoutstanding and due dates forpayment;if+convertiblesecurities, the conversion priceand dates for conversion)	Shares.
	6,288 fully paid ordinary shares.
	Fully paid ordinary shares.

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

4Do the +securities rank equally inallrespectsfromthedateofallotment with an existing +classof quoted +securities?If the additional securities do notrank equally, please state:the date from which they dotheextenttowhichtheyparticipateforthenextdividend, (in the case of atrust, distribution) or interestpaymentthe extent to which they donot rank equally, other than in	4Do the +securities rank equally inallrespectsfromthedateofallotment with an existing +classof quoted +securities?If the additional securities do notrank equally, please state:the date from which they dotheextenttowhichtheyparticipateforthenextdividend, (in the case of atrust, distribution) or interestpaymentthe extent to which they donot rank equally, other than in	4Do the +securities rank equally inallrespectsfromthedateofallotment with an existing +classof quoted +securities?If the additional securities do notrank equally, please state:the date from which they dotheextenttowhichtheyparticipateforthenextdividend, (in the case of atrust, distribution) or interestpaymentthe extent to which they donot rank equally, other than in	Yes.	Yes.	Yes.	Yes.	Yes.
relation to the ne		xt dividend,
distributionorament		interest
py
5Issue price or consider6Purpose of the issue		ation
			$0.35 per share.
			Exerciseoflistedoptionsat$035e			ach(expiry
(If issued as consideraacquisitionofasseidentify those assets)		tion for thets,clearly	**. **date: 21 July 2013).
7Datesofentering+securitiesinto uncertificated holdings ordespatch of certificates8Numberand+classofall+securitiesquotedonASX
			7 May 2012.
			Number	+Class
			610147955	Fully paid ordinary shares.
(	includingthesecuritiesinclause 2 if applicable)		,,69,012,233	Options exerc	isable at $0.35
			28,985,523	each on or before 21 July 2013(NMGOA).Options exercisable at $0.48each on or before 1 May 2015(NMGO).

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

9Numberand+classofall+securities not quoted on ASX(includingthesecuritiesinclause 2 if applicable)	Number	+Class
	6,000,0004,250,0005,000,00020,629,230	Options exercisable at $0.20each on or before 8 July2014.Options exercisable at $0.40each on or before 19 August2014.Options exercisable at $0.55each on or before 31 October2015.Options exercisable at $0.83eachonorbefore30November 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.

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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: 7 May 2012 (Managing Director)

Print name: Wayne Norris

• See chapter 19 for defined terms.

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