BLACK ROCK MINING LIMITED — Capital/Financing Update 2011

Oct 19, 2011

20 OCTOBER, 2011

==> picture [136 x 117] intentionally omitted <==

ASX Announcement

NEW STANDARD - LAWFORD #1 DRILLING UPDATE

(ASX: NSE)

New Standard Energy Limited ( New Standard ) provides the following weekly update on drilling operations at the Lawford-1 well as at 06:00hrs, 20 October 2011 (AWST).

The Lawford #1 well is located in EP 417. New Standard has a 65% operated interest in this permit via its wholly owned subsidiary New Standard Onshore Pty Ltd which is the designated operator of EP 417. Buru Energy (35% working interest) is acting as the operator for the Lawford #1 deepening on behalf of the EP 417 joint venture under a delegation agreement with New Standard. Green Rock Energy Limited is earning a 15% interest from New Standard through the deepening of the Lawford #1 well and associated activities.

Since the last progress report, the well has been drilled ahead in 6” hole to a measured depth of 2,483 metres.

The well is being drilled by Century Rig #7.

In accordance with its policy of releasing weekly drilling progress reports, the Company expects to issue a further drilling progress report on 27 October 2011, subject to any material events occurring in the meantime.

ENDS

For further information, please contact:

Sam Willis Cameron Morse Managing Director FTI Consulting Ph: + 61 8 9481 7477 Ph: + 61 8 9386 1233 email: swillis@newstandard.com.au email: cameron.morse@fticonsulting.com

Competent Person: The information in this announcement is based on information reviewed by Dr Mark Hagan (BSc Hons, PhD) who is a Petroleum Geologist and Geophysicist with more than 35 years experience in the industry. Dr Hagan is Technical Director of New Standard Energy and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

NewStandardEnergyLtd.|ACN119323385
Level3,33RichardsonSt.WestPerthWA6005|POBox1542.WestPerthWA6872
T:+61894817477|F:+61894867670|www.newstandard.com.au

==> picture [136 x 117] intentionally omitted <==

LAWFORD-1 DEEPENING

PERMIT

WELL LOCATION

NEW STANDARD INTEREST

DATE OF PROGRESS REPORT PROPOSED TOTAL DEPTH CURRENT DEPTH

SPUD DATE

DAYS SINCE SPUD

CURRENT TARGET FORMATION

OPERATIONS SINCE LAST PROGRESS REPORT

HYDROCARBON INDICATIONS

FORWARD OPERATIONS

The Lawford-1 well is located in exploration permit EP 417 (refer location map below)

Latitude: 19° 59’ 33.8”S Northing: 7787570m Longitude: 126° 37’ 51.3”E Easting: 252115m[1]

New Standard holds a 65% interest in the well, diluting to 50%

06:00hrs, 20 October 2011 (AWST)

2,780m

2,483m

27 September 2011

23 days

Laurel Formation

Since the last progress report, the well has been drilled ahead in 6” hole to a measured depth of 2,483 metres.

None

The well is currently drilling ahead to the Laurel Formation.

LOCATION MAP – LAWFORD-1 DEEPENING

==> picture [344 x 14] intentionally omitted <==

==> picture [344 x 14] intentionally omitted <==

==> picture [344 x 15] intentionally omitted <==

==> picture [344 x 14] intentionally omitted <==

==> picture [344 x 15] intentionally omitted <==

==> picture [344 x 14] intentionally omitted <==

==> picture [344 x 15] intentionally omitted <==

==> picture [344 x 14] intentionally omitted <==

==> picture [344 x 14] intentionally omitted <==

==> picture [344 x 15] intentionally omitted <==

==> picture [344 x 14] intentionally omitted <==

==> picture [344 x 15] intentionally omitted <==

==> picture [344 x 14] intentionally omitted <==

==> picture [344 x 15] intentionally omitted <==

==> picture [344 x 14] intentionally omitted <==

==> picture [344 x 15] intentionally omitted <==

==> picture [344 x 13] intentionally omitted <==

==> picture [39 x 6] intentionally omitted <==

----- Start of picture text ----- 1 AMG Zone 52----- End of picture text -----

NewStandardEnergyLtd.|ACN119323385
Level3,33RichardsonSt.WestPerthWA6005|POBox1542.WestPerthWA6872
T:+61894817477|F:+61894867670|www.newstandard.com.au