BARYS RESOURCES LIMITED — Capital/Financing Update 2011

Oct 3, 2011

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4 October 20 1 1

De a r Shareho l der

Notice to Overseas Shareholders of Rights Issue

We write to y ou as th e register e d holder o f Mining Group Li m ited (“Mi n ing Gr o up”) shar e s (ASX co d e: MNE) as at today’s date. As announce d on 4 Oct o ber 20 1 1, the D i rectors o f Mining G roup ha v e resolved to und e rtake a f ully un d erwritten non‐reno u nceable rights issu e of approximately 6 ,512,500 new opt i ons (with an exercise price of $ 0.20 eac h and an e x piry date o f 1 July 2 0 14) on t he basis o f one new option fo r every fou r shares h e ld by sha r eholders a t an iss u e price of $0.01 per n ew optio n , to raise a pproxima t ely $65,125 ( Offer ). The Off e r is being u nderwrit t en by Cyg n et Capital Pty Ltd.

Th e Offer is a vailable t o Mining G roup sha r eholders r egistered on the re c ord dat e of 13 O c tober 2011 ( Record Date ) a n d who re s ide in Au s tralia or N ew Ze a land.

Th e Offer is b eing mad e pursuan t to a prospectus which was l o dged wit h the Au s tralian S e curities a nd Inve s tments Commissio n on 4 O ctober 2 011 ( Prospectus ) . The P r ospectus is availa b le at t h e Comp a ny’s website: w w w.mining g roup.net.a u or on t he ASX w ebsite (c o mpany a n nouncements sec t ion, ASX c o de: MNE) at www.a s x.com.au.

In a ccordanc e with the Listing Ru l es of the A ustralian Securities Exchange , the Co m pany has considere d the num b er of sha r eholders w ith regist e red addresses out s ide of Au s tralia and New Zeal a nd and t h e size of t h e shareh o ldings hel d by tho s e shareh o lders. Ta k ing into c o nsiderati o n the cos t s of com p lying wit h the leg a l require m ents and t he requir e ments of t h e regulat o ry author i ties relati n g to shareholders with regis t ered add r esses out s ide of Au s tralia and New Zealand, the Company has forme d the vie w that it is u nreasona b le to exte n d the Off e r to tho s e shareh o lders.

Ac c ordingly, Mining G r oup is u n able to extend to you the o pportunit y to participate in the entitle m ents issu e .

If y ou have a ny questi o ns in rel a tion to th e above, p lease do n ot hesita t e to co n tact the C o mpany Se c retary on ( 61 8) 9322 6424.

Yo u rs sincere l y

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Shannon Coates No n ‐Executiv e Director / Company S ecretary

173 MOUNTS BAY ROAD PERTH WESTERN AUSTRALIA 6000 TELEPHONE 08 9322 6424 FACSIMILE 08 9322 6778
www.mininggroup.net.au