BARYS RESOURCES LIMITED — Capital/Financing Update 2011

Jul 4, 2011

MINING GROUP SUCCESSFULLY LISTS ON ASX AND COMMENCES EXPLORATION

ANNOUNCEMENT 5th JULY 2011

Mining Group Limited (ASX:MNE) (“Mining Group” or “the Company”) is pleased to advise that the Company had made a positive debut on the ASX after raising $2,500,000 for the exploration of its Western Australian gold, base metals and uranium projects and the identification and evaluation of potential new mineral projects and opportunities in Australia and overseas suitable for acquisition and development by the Company.

Mining Group currently has a total of 26,050,001 shares on issue and thanks all shareholders who participated in and supported the listing.

Following on from the successful listing, Mining Group is also pleased to report that commencement of exploration on its Boorara and Teutonic gold and base metal projects in the Western Australian Goldfields is imminent.

The Company has engaged the services of experienced geologist, Mr Zeffron Reeves (B.Sc (Hons) (Applied Geology), MBA, MAIG), to complement the existing expertise within the Company and to develop the Company’s work plan and lead the exploration programme. Mr Reeves has more than 15 years geological experience, most recently working with Cleveland Mining Company Ltd as Principal Exploration Geologist. He has had discovery success in Brazil and Australia having delineated previously unknown mineralisation within the Pocone Goldfield, Mato Grosso, Brazil while with Ashburton Minerals Ltd as well as uncovering the potential of Ashburton Minerals Mt Webb Project by delineating and expanding copper and gold mineralising systems on that project. Also while with Cleveland Mr. Reeves was responsible for the delineation of the Premier Gold Mine resource as well as several new discoveries within the Crixas greenstone belt in Brazil. He has a broad range of experience, from grass roots exploration to underground mining, and adds significant technical depth to the Mining Group team.

It is expected that Mr Reeves and the Company’s Managing Director, Mr Andrew Maurice, will undertake a field trip to the Goldfields this week to commence preliminary fieldwork on the Boorara and Teutonic Projects.

Boorara Project (earning up to 70%)

The Boorara Project is located approximately 17 kilometres southeast of Kalgoorlie and comprises two granted prospecting licenses. The Project area occupies a favourable position within the Boorara Shear Zone and is considered prospective for gold and base metals.

173 MOUNTS BAY ROAD PERTH WESTERN AUSTRALIA 6000 TELEPHONE 08 9322 6424 FACSIMILE 08 9322 6778

www.mininggroup.net.au

A full compilation of data is underway and once complete a review of the integrated datasets will be undertaken to assess all potential targets to determine the work programme moving forward.

Teutonic Project (earning up to 70%)

The Teutonic Project is also located in the Eastern Goldfields and consists of one granted exploration licence. The gold endowment of the Eastern Goldfields is extensive, with Australia’s five largest known gold deposits historically producing 13.5Mozs of gold from the region. An anomalous gold trend within the Teutonic Project area is yet to be systematically tested below the weathered zone and the base metal potential of the Project has also yet to be tested using modern exploration techniques, despite the Project being located in an emerging base metals province. Once existing data has been consolidated into a useable database, the Company believes it may be possible to fast track an RAB drill programme over new conceptual targets.

Mining Group looks forward to providing further updates as it progresses it objectives of prudently managing the Company’s portfolio of assets in order to realise their full potential, as well as identifying and evaluating other resource opportunities.

AUTHORISED BY:

Shannon Coates Company Secretary

Contact:

Andrew Maurice Managing Director amaurice@mininggroup.net.au

P: + 61 8 9322 6424 M: + 61 410 642 660

Level 1, 173 Mounts Bay Road PERTH WA 6000

About Mining Group Limited

Mining Group Limited (ASX: MNE) is an ASX listed, Australian based exploration company established to explore, evaluate and acquire commercially significant resource projects in Australia and overseas.

Mining Group seeks to increase shareholder wealth by prudent exploration of its prospective Western Australian based Boorara, Teutonic and Lake Christopher Projects and by identification and evaluation of potential new mineral projects and opportunities in Australia and overseas suitable for acquisition and development by the Company. Mining Group has a strong Board and management team who collectively have considerable technical, commercial and corporate experience in the resources sector.

For more information visit the Mining Group website at www.mininggroup.net.au

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Zeffron Reeves (B App Sc (Hons) (Applied Geology) MBA, MAIG), a consultant to the Company. Mr Reeves has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Reeves consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.