BUXTON RESOURCES LIMITED — Capital/Financing Update 2012

Aug 6, 2012

7th August 2012

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ABN: 86 125 049 550 ASX Code: BUX, BUXO Frankfurt: 3B4.F Share Price: $0.18 (at 6/8/12) Shares on Issue: 41.1M No of listed options: 4.0M Market Cap: 7.22M Cash at Bank: 1.23M Board Members Seamus Cornelius Chairman Anthony Maslin Managing Director Julian Stephens Non-Executive Director Joint Company Secretaries Sam Wright Jodi Haslinger Website www.buxtonresources.com.au

ASX ANNOUNCEMENT

Priority Nickel Targets Identified at

Buxton’s Widowmaker Project, Along Strike from Nova Nickel Discovery

HIGHLIGHTS

• Multiple Ni, Cu and PGE soil anomalies identified at Buxton’s Widowmaker Project, located within the newly identified Fraser Range Nickel Province.

• Available aeromagnetic data highlights the host rocks at Nova trending into Buxton’s tenure.

• Widowmaker is located along strike from Sirius’ Nova discovery where substantial Nickel and Copper hits have been recorded.

• Exploration licence E28/2201 due to be granted in the coming weeks, allowing rapid commencement of field programs.

• Fieldwork to commence immediately, including infill calcrete geochemical sampling, and EM surveys over selected target areas.

Buxton Resources Ltd – ASX Announcement

7 August 2012

Summary

Buxton Resources Limited (“Buxton” or “the Company”) (ASX: BUX & BUXO) is pleased to report that it has identified multiple, significant Ni±Cu±PGE anomalies in a historical calcrete soil sampling database over its Widowmaker Project, located approximately 22km along strike from Sirius Resources’ (ASX: SIR) Nova Ni-Cu sulphide discovery in the newly identified Fraser Range Nickel Province, Western Australia.

Airborne magnetic data indicates that the broad mafic-ultramafic lithological package that hosts the Nova discovery extends north-eastwards into Buxton’s Widowmaker Project area, and corresponds with some of the Ni±Cu±PGE calcrete surface anomalies (Figure 1).

Approximately 20km of strike length of the favourable lithological host-rock package is interpreted to underlie the Widowmaker Project, which covers an area of approximately 225 square kilometres. The exploration licence E28/2201 is currently under application but is expected to be granted by the end of August, 2012.

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Figure 1: Regional magnetic imagery and nickel soil geochemistry highlighting Buxton’s E28/2201 Widowmaker tenement located 22 kilometres along strike from Sirius Resources Nova discovery with identified soil anomalies.

Buxton Resources Ltd Suite 1, First Floor, 14 – 16 Rowland St Subiaco WA 6008

Ph: 08 9380 6063 Fax: 08 9381 4056

Buxton Resources Ltd – ASX Announcement

7 August 2012

Historical Work and Results

During the period 1997-2001 Geographe Resources conducted a detailed aeromagnetic survey, and a broad 1km x 1km regional calcrete sampling program over the current Widowmaker Project area. The calcrete sampling program highlighted at least 3 broad, multi-element Ni±Cu±PGE anomalies (Figure 1):

• Shippies – stretches over approximately 7km strike length along a discontinuity that is slightly oblique to regional strike. This anomaly has a peak value of 138ppm Nickel with multiple samples averaging over 40ppm Ni, as well as coincident Cu with a peak value of 45ppm and Pt+Pd of 6ppb. These values are highly anomalous for sampling at this spacing in the Fraser Range Nickel Province.

• Boneyards – anomaly occurs over at least 2km of strike and contains high coincident Cu of 43ppm and Pt+Pd of 7ppb.

• Old Man’s – anomaly occurs over at least a 2-3km strike length and also contains high coincident Cu of 81ppm and Pt+Pd of 6ppb, along strike from higher Ni values just off tenement.

Next Steps

Buxton has now identified three substantial target areas at Widowmaker for immediate exploration follow up.

Buxton’s exploration program will comprise:

• Compiling and assessing all historical surface geochemistry, drilling and geophysical data.

• Immediate commencement of an infill calcrete surface geochemistry program.

• Initial air core drilling program to test metal anomalies defined in surface geochemistry.

• Initial electromagnetic (EM) survey to identify conductors that may represent massive or other sulphide mineralisation styles.

• RC drilling of any EM conductors or targets identified in air core drilling.

Concluding Comments

The Widowmaker Project represents an extremely exciting opportunity in the emerging Fraser Range Nickel Belt. Sirius Resources’ Nova Ni-Cu sulphide discovery along strike from Widowmaker and encouraging historical geochemical results over the project provide a compelling exploration opportunity for the Company.

Buxton Resources Ltd Suite 1, First Floor, 14 – 16 Rowland St Subiaco WA 6008

Ph: 08 9380 6063 Fax: 08 9381 4056

Buxton Resources Ltd – ASX Announcement

7 August 2012

About Buxton

Buxton is a Western Australian based company with offices in Perth and Hong Kong. Discussions continue with potential joint venture partners for the Company’s Zanthus Magnetite Project. Together with the recent acquisition of the Yalbra Graphite Project, Buxton offers a diverse range of commodity opportunities.

Buxton has 41 Million shares on issue and $1.2m in cash, making it very highly leveraged to exploration success in the new Fraser Range Nickel Province.

Competent Person: The information in this report that relates to geology and exploration results is based on information compiled and/or reviewed by Dr Julian Stephens, Member of the Australian Institute of Geoscientists and Non-Executive Director for Buxton Resources Limited. Dr Stephens has sufficient experience which is relevant to the activity being undertaken 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 and consents to the inclusion in this report of the matters reviewed by him in the form and context in which they appear.

For further information regarding Buxton Resources Limited please contact:

Anthony Maslin Managing Director amaslin@buxtonresources.com.au

Jodi Haslinger

Joint Company Secretary jodi@buxtonresources.com.au

Buxton Resources Ltd Suite 1, First Floor, 14 – 16 Rowland St Subiaco WA 6008

Ph: 08 9380 6063 Fax: 08 9381 4056