BARYS RESOURCES LIMITED — Capital/Financing Update 2013

Mar 18, 2013

19 March 2013

ASX ANNOUNCEMENT

ENTITLEMENTS ISSUE TO RAISE $2.48 MILLION

The Board of Mining Group Limited (ASX: MNE) (“Mining Group” or “the Company”) is pleased to announce a fully underwritten non-renounceable entitlements issue of approximately 70,904,712 new shares (“New Shares”) on the basis of two New Shares for every three Mining Group shares held by shareholders on the record date at an issue price of $0.035 per New Share and a free attaching New Option (“New Options”) (with an exercise price of $0.06 and an expiry date of 30 June 2015) for every two New Shares issued (“Entitlements Issue”).

The Entitlements Issue will raise approximately $2.48 million before costs. The funds raised pursuant to the Entitlements Issue will be applied, with existing funds and after meeting the expenses of the Entitlements Issue, towards exploration and drilling programs at the Comval Copper-Gold Project, target generation and reconnaissance field work at the Teutonic Project, to assess other opportunities which may fit the Company’s strategy and for general working capital.

Cygnet Capital Pty Ltd has been appointed lead manager and underwriter to the Entitlements Issue. In consideration, Cygnet will be entitled to a 5% capital raising fee and 1% management fee calculated on total funds raised via the Entitlements Issue, which, at Cygnet’s election, can be taken as cash or converted to shares at the same price as those offered pursuant to the Entitlements Issue.

Further, on successful completion of the Entitlements Issue, Cygnet will be entitled to a success fee of 22,500,000 options on the same terms as the New Options.

The Company intends to apply to the Australian Securities Exchange for quotation of the New Shares and New Options, together with any fee options issued to Cygnet.

Mining Group intends to lodge a Prospectus for the Entitlements Issue with the Australian Securities and Investments Commission (ASIC) and announce to Australian Securities Exchange Ltd (ASX) in due course.

A proposed timetable for the Entitlements Issue and documentation related to the Entitlements Issue will be prepared and lodged in due course.

For further information please contact:

Zeffron Reeves Managing Director zreeves@mininggroup.net.au P: + 61 8 9322 6424

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Investors Ronn Bechler Market Eye ronn.bechler@marketeye.com.au 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 along with exploring the prospective Western Australian based Boorara, Teutonic and Lake Christopher 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

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