BARYS RESOURCES LIMITED — Capital/Financing Update 2014

Apr 2, 2014

UPDATE ON CHILEAN EARTHQUAKE AND DISCLOSURE UNDER ASX LISTING RULE 7.1A.4(b) AND 3.10.5A

ASX ANNOUNCEMENT

3 April 2014

Chilean Earthquake

The Company advises that the Company’s operations at the El Roble project in Chile have not been impacted by Tuesday’s earthquake, which affected Iquique and surrounding areas in the north of Chile.

ASX Listing Rule Disclosure

In relation to the Placement of 75,057,141 fully paid ordinary shares advised in the Appendix 3B released to the ASX on 3 April 2014, and in accordance with ASX Listing Rules 7.1A.4(b) and 3.10.5A the Company makes the following disclosures in respect of the Placement:

• (a) The Company issued a total of 75,057,141 fully paid ordinary shares of which 29,340,732 fully paid ordinary shares were issued under Listing Rule 7.1A and the remaining shares were issued under the Company’s 15% placement capacity under Listing Rule 7.1.

The securities issued under Listing Rule 7.1A resulted in the following dilution to existing holders of ordinary securities:

• Number of fully paid ordinary shares on issue prior to the placement of securities under LR 7.1A was 357,159,133.

• Number of fully paid ordinary shares on issue following this issue of securities under LR 7.1A was 386,499,865.

• Percentage of voting dilution following the issue is 7.6%.

• (b) The Company issued shares as a placement to sophisticated and professional investors as this was considered to be the most expedient mechanism for raising funds in a timely manner.

The Company is grateful for the support of its long-term shareholders and where possible will continue to endeavour to afford those shareholders with opportunities to participate in future capital raisings.

• (c)

• No underwriting agreements were entered into.

• (d) Cygnet Capital Pty Ltd was lead manager to the Placement, and was paid a fee of 6% (excluding GST) on all funds raised under the Placement, comprised of a capital raising fee of 5% (excluding GST) and a management fee of 1% (excluding GST).

SUITE 1, GROUND FLOOR, 83 HAVELOCK STREET WEST PERTH WESTERN AUSTRALIA 6005 TELEPHONE 08 9322 4328 FACSIMILE 08 9322 5230 www.mininggroup.net.au

AUTHORISED BY:

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Shannon Coates Company Secretary

For further information please contact: Zeffron Reeves Managing Director zreeves@mininggroup.net.au P: + 61 8 9322 6424

Investor Relations

Robert Gundelach NWR Communications robert@nwrcommunications.com.au P: +614 51 896 420

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 near term production at its Chilean copper project El Roble. Further, it continues to evaluate 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