BARYS RESOURCES LIMITED — Capital/Financing Update 2013

Oct 27, 2013

ASX ANNOUNCEMENT

28 OCTOBER 2013

DRILLING COMMENCES AT EL ROBLE

Highlights

• First ever diamond drill program commenced at the El Roble Copper Project, Chile

• High grade copper ore shoots targeted to extend known mineralisation in current mines

• Assessment of multiple underground areas with evidence of high grade copper mineralisation ongoing

Mining Group Limited (ASX: MNE) is pleased to announce that the first ever diamond drilling program has commenced at the El Roble Copper Project, Chile.

Mining Group has an exclusive option to acquire up to 90% of the El Roble Copper Project which is located in the IOCG Coastal Cordillera Belt of Chile, approximately 30km from the port of Caldera. The project covers approximately 6,000 Ha and is currently being actively mined on a small scale by the current owner of the project, with ore being trucked at grades in excess of 6% copper. Ore is currently treated at one of the two toll treatment plants located within 70km by road of the project.

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Figure 1- El Roble Project location map showing proximity to two toll treatment plants

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Commenting on the drilling program, Mining Group Managing Director, Mr Zeffron Reeves said: “The drilling program we are embarking on is the first ever diamond drill program at the El Roble Project and has been designed to quickly assess some of the high grade copper targets we have identified.

“We are really focussing on the high grade copper mineralisation currently being mined by the current owner of the concessions in a couple of small scale operations, Descubridora and Veta Gruesa. We have mapped, sampled and surveyed these areas and prioritised the targets based on the newly acquired magnetic data which is looking as though it will be a powerful tool in identifying further areas to be drill tested.

“This is an exciting time for Mining Group as all the work and results to date have shown the potential for the El Roble Project to host high grade copper orebodies. This is also aided by the project’s proximity to Copiapo, where many contractors are based and which will also be beneficial for any potential future mining operations.

“We’re hoping this first round of drilling will extend the known high grade mineralisation currently being exploited and provide us with valuable information on the grade, size and geometry of the high grade ore shoots” added Mr Reeves.

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Figure 1 – Drill rig setting up at the site of the first ever diamond drill hole drilled at the El Roble Project, targeting beneath current mine at Descubridora Vein.

Drilling

An initial 1,000m of diamond drilling has been planned at El Roble, initially on 2 targets: Descubridora and Veta Gruesa. Both areas are currently being mined on a small scale utilising airleg mining along high grade vein structures.

Detailed drill planning has been completed at Descubridora, where the first of 4 holes has begun to be drilled, with the aim to test down dip and along strike of the small, active underground mine (Figures 3 and 4). Current mining activity at Descubridora has recently encountered a high grade ore shoot with grades in excess of 10% copper being trucked to the nearby toll treatment plant (refer ASX announcement 4 October 2013). Mineralised structures mapped to date vary from 0.5m in width to over 10m in width where well developed ore shoots are formed as pods or lenses within the strike continuous vein system.

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All holes will be drilled with HQ diameter drilling equipment to depths of between 50m and 120m. It is anticipated that the initial 1,000m program will take approximately five to six weeks to complete.

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Figure 2 – Overview plan of target locations and geology.

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Figure 3 – Plan of Descubridora planned drill holes on magnetics analytical signal image

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Figure 4 – Section looking north for planned drill holes RCPDH00001 and RCDH00002

For further information please contact: Investors Zeffron Reeves Ronn Bechler Managing Director Market Eye zreeves@mininggroup.net.au ronn.bechler@marketeye.com.au P: + 61 8 9322 6424 P: +61-400 009 774

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 develop the Comval Copper Gold Project in the Philippines and establish near term production at its Chilean copper project, El Roble. Further, it continues to evaluate the prospective Western Australian based Boorara and Teutonic Projects.

Mining Group has a strong Board and management team with 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 is based on information compiled by Mr Zeffron Reeves (B App Sc (Hons) (Applied Geology) MBA, MAIG), a member of the Australian Institute of Geoscientists and is an employee of 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 2012 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.

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