BATHURST RESOURCES LIMITED. — Capital/Financing Update 2014

May 29, 2014

• T +64 4 499 6830 F +64 4 974 5218

• E wellington@bathurstresources.co.nz

Level 12, 1 Willeston Street Wellington 6011, New Zealand PO Box 5963 Lambton Quay Wellington 6145, New Zealand

30 May 2014

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Market Information Services NZX Limited Level 2, NZX Centre 11 Cable Street Wellington NEW ZEALAND

ASX Market Announcements ASX Limited Level 4, 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth) and Clause 17 of Schedule 1 of the Financial Markets Conduct (Phase 1) Regulations 2014

Not for release or distribution in the United States

1. This notice is given by Bathurst Resources Limited ARBN 164 306 905 (a company registered in New Zealand with company number 4382538) ( Company ) under:

   • (a) section 708AA(2)(f) of the Corporations Act 2001 (Cth) as modified by Australian Securities and Investments Commission Class Order [CO 08/35] ( Corporations Act ); and

   • (b) Clause 17 of Schedule 1 of the Financial Markets Conduct (Phase 1) Regulations 2014 ( FMC Regulations ).

2. The Company has announced a pro rata non-renounceable entitlement offer ( Offer ) to eligible shareholders of 1 new fully paid ordinary share ( Share ) for every 23 existing Shares held by those holders on the record date of 7pm (New Zealand time) on 10 June 2014.

• For the purposes of section 708AA(7) of the Corporations Act, the Company gives notice that:

• (a) the Shares will be offered for issue without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under section 708AA(2)(f) of the Corporations Act;

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (ii) section 674 of the Corporations Act; and

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• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act; and

• (e) the potential effect the Offer will have on the control of the Company, and the consequences of that effect will depend on a number of factors, including investor demand and existing shareholdings. However, given the structure of the Offer as a pro rata issue and the current level of holdings of substantial holders (based on substantial holding notices that have been given to the Company and lodged with ASX Limited ( ASX ) on or prior to the date of this notice), the Offer is not expected to have any material effect or consequences on the control of the Company.

1. For the purposes of Clause 17(1)(a) of Schedule 1 of the FMC Regulations, the Company gives notice that:

   • (a) the Offer is being made in reliance upon the exclusion in clause 19 of Schedule 1 of the Financial Markets Conduct Act ( FMCA )

   • (b) as at the date of this notice, the Company is in compliance with:

     • (i) the continuous disclosure obligations that apply to it in relation to the Company’s listed shares;

     • (ii) its “financial reporting obligations” within the meaning set out in clause 17(4) of Schedule 1 of the FMC Regulations

   • (c) As at the date of this notice, there is no information that is “excluded information” within the meaning set out in clause 17(4) of Schedule 1 of the FMC Regulations;

   • (d) The potential effects that the Offer and acquisition of new shares will have on the “control” (within the meaning of clause 48 of Schedule 1 of the FMCA) of the Company are described in paragraph 3(e) above.

2. Further detail regarding the Offer is set out in the offer booklet given to NZX and ASX by the Company on the date of this notice.

Yours sincerely

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Marshall Maine Chief Financial Officer Bathurst Resources Limited

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