BOSS ENERGY LTD — Capital/Financing Update 2012

Mar 6, 2012

ASX ANNOUNCEMENT

7[th] March 2012

SIGNIFICANT DRILL RESULTS FROM THE GOLDEN HILL PROJECT, BURKINA FASO

HIGHLIGHTS

• Shallow infill Reverse Circulation (RC) drilling confirms historic gold grades and substantial width of mineralisation at the A Zone prospect, Golden Hill Project, Burkina Faso

• Gold mineralisation intercepted in all A Zone drill holes

• Results include:

• 50m @ 1.46g/t Au from 9m including 9m @ 3.23g/t Au (AZRC011)

• 53m @ 1.05g/t Au from 35m including 13m @ 2.32g/t Au (AZRC010)

• 40m @ 1.02g/t Au from 7m including 17m @ 1.55g/t Au (AZRC007)

• 21m @ 1.28g/t Au from surface including 7m @ 2.41g/t Au (AZRC013)

• 18m @ 1.23g/t Au from surface including 10m @ 2.00g/t Au (AZRC012)

• 5m @ 3.36g/t Au from 29m (AZRC005)

• 4m @ 2.67g/t Au from 41m (AZRC001)

• 6m @ 1.95g/t Au from 25m (AZRC009)

• Gold mineralisation at the A Zone remains open at depth and along strike. High grade steeply plunging ore shoots remain untested at depth

• 4,131 out of a total 5,213 Golden Hill Project RC drill samples (80%) awaiting gold analysis

Boss Resources Limited (ASX: BOE) is pleased to announce the completion of a 72 hole 5,213m RC drilling program on its Golden Hill Project within the Houndé Greenstone Belt in western Burkina Faso, West Africa. The program aimed to infill historic drilling completed by Orezone Resources Inc. (Orezone) at A Zone, C Zone, and Peksou prospects to a JORC compliant drill spacing, confirm historic drill intercepts and expand the currently defined gold mineralisation at Ma East, Pekperine and B Zone prospects. RC assays for the A Zone Prospect have now been received with gold mineralisation intercepted in all drill holes. All the Boss RC drill intercepts compare favorably to the historic Orezone intercepts that were drilled across the mineralisation. Final assays for all other prospects are awaited.

Gold mineralisation within the A Zone drilling is associated with an albite‐carbonate‐pyrite altered syenite body up to 60m wide that has intruded into the NNE‐trending Intiedougou Fault Zone (IFZ).

Australian Office Suite 23, 513 Hay St, Subiaco WA 6008 PO Box 1311, Subiaco WA 6904 Tel: +61 (8) 6143 6730 Fax: +61 (8) 9388 8824 ABN 38 116 834 336

www.bossresources.com.au

info@bossresources.com.au

Burkina Faso Office 361 Avenue Babanguida, Zone du Bois 06 BP 10656 Ouagadougou 06 Tel: +226 5036 0486

The IFZ can be traced in aeromagnetic, ground magnetic and ground Induced Polarization (IP) images for a distance of over 5 kilometres. The syenite bodies display coincident chargeability and resistivity highs with IP data proving a useful tool for delineating these mineralised intrusives. Existing Orezone IP data indicates the potential for southern extensions to the B Zone Prospect gold mineralisation and will be used to track additional mineralised intrusives and target more RC drilling in the area.

Results from the 15 RC holes drilled at the A Zone prospect include the following significant intercepts:

Table 1: A Zone Prospect Reverse Circulation Drilling (Golden Hill Project) – Significant Results

	Hole ID	Coordinates*	Coordinates*	Dip	Az*		Intercept (m)	Intercept (m)	Grade
		East (m)	North (m)	(°)	(°)	From	To	Width	(g/t Au)
	AZRC001	450967	1226282	‐55	297	38	46	8	1.51
	incl.					41	45	4	2.67
	AZRC002	450984	1226270	‐55	297	63	69	6	1.01
	incl.					64	67	3	1.49
	AZRC003	451018	1226280	‐55	297	3	48	45	0.37
	AZRC004	450994	1226321	‐55	297	1	12	11	0.50
	incl.					5	9	4	1.03
	and					16	36	20	0.58
	incl.					28	32	4	1.18
	AZRC005	451012	1226312	‐55	297	0	7	7	1.05
	and					13	51	38	0.77
	incl.					29	34	5	3.36
	AZRC006	451030	1226303	‐55	297	31	58	27	0.35
	AZRC007	451043	1226352	‐55	297	7	47	40	1.02
	incl.					8	25	17	1.55
	incl.					42	47	5	1.21
	AZRC009	451061	1226343	‐55	297	25	31	6	1.95
	incl.					27	30	3	3.08
	and					36	70	34	0.66
	incl.					39	45	6	1.06
	incl.					51	54	3	1.12
	AZRC010	451096	1226353	‐55	297	35	88	53	1.05
	incl.					51	64	13	2.32
	incl.					78	81	3	1.10
	AZRC011	451088	1226383	‐55	297	9	59	50	1.46
	incl.					11	22	11	2.17
	incl.					26	38	12	1.08
	incl.					44	53	9	3.23
	AZRC012	451103	1226408	‐55	297	0	18	18	1.23
	incl.					6	16	10	2.00
	and					22	39	17	0.67
	incl.					27	35	8	1.14
	and					52	74EOH	22	1.21
	incl.					59	70	11	2.04
	AZRC013	451108	1226434	‐55	297	0	21	21	1.28
	incl.					3	10	7	2.41
	and					26	58	32	0.38
	AZRC014	451133	1226447	‐55	297	6	17	11	1.10
	and					33	38	5	1.45
	AZRC015	451141	1226471	‐55	297	37	46	9	0.52
	incl.					42	45	3	1.06

Australian Office

Suite 23, 513 Hay St, Subiaco WA 6008 PO Box 1311, Subiaco WA 6904 www.bossresources.com.au Tel: +61 (8) 6143 6730 Fax: +61 (8) 9388 8824 info@bossresources.com.au ABN 38 116 834 336

Burkina Faso Office 361 Avenue Babanguida, Zone du Bois 06 BP 10656 Ouagadougou 06 Tel: +226 5036 0486

Boss implements a rigorous quality control program with RC drilling involving the insertion of one certified standard from an accredited New Zealand laboratory, a blank sample, and a riffle split duplicate sample within every 30 samples submitted for analysis. The ALS laboratory in Ouagadougou, Burkina Faso was used for gold analysis on all the RC samples. Samples were assayed using standard fire assay techniques on a 50 gram charge with an atomic absorption finish.

Managing Director, Leigh Ryan said that “the results from the first 15 holes of Boss’ 72 hole maiden RC drill program at Golden Hill confirm the historic drill results and highlight the potential for large tonnage low grade gold deposits within the numerous shear hosted syenite intrusives in the region. We’re looking forward to receiving some higher grade intercepts over significant widths from the five other prospects we’ve recently drilled within the permit. Our focus moving forward will be to systematically drill test the numerous large soil and IP anomalies within our Golden Hill project with the aim of producing a JORC compliant gold resource.”

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Fig 1: Plan of drilling and intercepts in the A Zone Prospect area over soil sampling image

Australian Office Suite 23, 513 Hay St, Subiaco WA 6008 PO Box 1311, Subiaco WA 6904 Tel: +61 (8) 6143 6730 Fax: +61 (8) 9388 8824 ABN 38 116 834 336

www.bossresources.com.au

info@bossresources.com.au

Burkina Faso Office 361 Avenue Babanguida, Zone du Bois 06 BP 10656 Ouagadougou 06 Tel: +226 5036 0486

==> picture [596 x 281] intentionally omitted <==

Fig 2: A Zone x‐section 10825N

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Fig 3: A Zone x‐section 10775N

Australian Office

Suite 23, 513 Hay St, Subiaco WA 6008 PO Box 1311, Subiaco WA 6904 Tel: +61 (8) 6143 6730 Fax: +61 (8) 9388 8824 ABN 38 116 834 336

www.bossresources.com.au

info@bossresources.com.au

Burkina Faso Office 361 Avenue Babanguida, Zone du Bois 06 BP 10656 Ouagadougou 06 Tel: +226 5036 0486

For further information please contact:

Leigh Ryan Managing Director +61 (0) 427 093 043 Website: www.bossresources.com.au

Boss Resources Limited is a gold and oil shale exploration company focused on increasing shareholder and other stakeholder wealth by exploring for and developing quality mineral resources. Evaluation and acquisition of additional highly prospective projects in West Africa, especially in Burkina Faso, and the development of an oil shale processing facility in Tasmania is seen as critical to the growth of the company.

The information in this report that relates to exploration results is based on information compiled by Mr. Leigh Ryan, the company’s Managing Director, who is a member of the Australian Institute of Geoscientists. Mr. Ryan has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Ryan consents to the inclusion in the report of the matters based on information in the form and context in which it appears.

Australian Office

Suite 23, 513 Hay St, Subiaco WA 6008 PO Box 1311, Subiaco WA 6904 Tel: +61 (8) 6143 6730 Fax: +61 (8) 9388 8824 ABN 38 116 834 336

www.bossresources.com.au

info@bossresources.com.au

Burkina Faso Office 361 Avenue Babanguida, Zone du Bois 06 BP 10656 Ouagadougou 06 Tel: +226 5036 0486