BUXTON RESOURCES LIMITED — Capital/Financing Update 2013

Nov 27, 2013

ASX ANNOUNCEMENT – 28[th] NOVEMBER 2013

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EXPLORATION UPDATE

Highlights

– Yalbra Graphite Gascoyne Region

• RC drilling program completed with 15 holes drilled for 1,674 metres

• Drilling at the Main Zone intersected substantial widths of graphite mineralisation visually consistent with historical results

• New area of graphite mineralisation discovered at the Northern Zone by drilling VTEM conductor

Zanthus – Fraser Range

• **~ 3,000m RC drill program planned to test up to 20 conductors defined in recent ground EM survey for Ni-Cu sulphide mineralisation**

• Heritage clearance received, POW clearances pending

– Dempster Project Albany Fraser Orogen

• Significant new tenement applications in exciting area emerging for magmatic nickel-copper and gold mineralisation

• Large and expanding ground position immediately along strike from targets generated recently by other companies in the region

• Confirmed presence of mafic-ultramafic rocks including gabbros and dunites observed in historical drilling

• Significant surface nickel calcrete anomalies at two prospects, with a peak historical bottom-of-hole RAB result of 0.25% nickel and 348ppm copper

Widowmaker – Fraser Range

• Recent calcrete sampling identifies new Ni-Cu surface anomaly with associated Cr, As and locally Co, located along a significant regional shear-zone

• Further infill calcrete sampling planned for Q1, to be followed by initial RAB program over this exciting anomaly

PO Box 9028 Suite 1, First Floor Tel: 08-9380 6063 Subiaco WA 6008 14-16 Rowland Street Fax: 08-9381 4056 Subiaco WA 6008

www.buxtonresources.com.au info@buxtonresources.com.au

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– Yalbra Graphite Project Gascoyne Region

During November, the Company completed a 15 hole RC drilling program for 1,689 metres at the Yalbra Graphite Project.

Drilling within the Main Zone intersected substantial widths of graphite mineralisation visually consistent with historical results. A new area of graphite mineralisation was discovered at the Northern Zone by drilling a significant VTEM conductor Drilling results will be reported as they become available.

The Company is excited by the potential for Yalbra to host a significant graphite resource once more drilling has been completed.

Significant investment interest in the project has been received from several overseas parties. Discussions are continuing.

Zanthus – Fraser Range

The Company has planned a 3,000m RC drill program to test up to 20 conductors, some with nearby calcrete geochemical anomalies, defined in the recent ground EM survey for Ni-Cu sulphide mineralisation.

Heritage clearances have been received, whilst POW clearances are pending. This program is planned to begin early in the first quarter of calendar 2014.

– Dempster Project Albany Fraser Orogen

Buxton has acquired a significant ground position now totaling 1,365km[2] that is prospective for magmatic nickel-copper and separately orogenic gold deposits at Dempster within the Albany Fraser Orogen (Figure 1). This project straddles the interpreted boundary of the Archaean Yilgarn Craton and the Proterozoic Albany Fraser Orogen and has a similar tectonic position to the Tropicana Gold Deposit.

In addition, historical work at the Dempster Project has identified significant nickel surface calcrete anomalies. One of these, the Prickle prospect, was drilled historically and shown to be underlain by a mafic-ultramafic rock package including gabbros and dunites. Peak results were 0.25% Ni and 348ppm Cu at the base of a RAB hole.

Historical BHP drilling also intersected 1m @ 0.7 ppm Au at the base of a RAB drill hole.

Recent work by other exploration companies in the area has defined a number of high quality Ni-Cu sulphide targets immediately along strike from Buxton’s tenements. The Company is excited about the potential at Dempster and intends to ramp up its exploration efforts in this area in 2014.

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Figure 1. Location of the Company’s Dempster tenements in relation to other

companies’ projects and major prospects.

Widowmaker – Fraser Range

A calcrete sampling program was completed at Widowmaker to follow up a significant area of very strong multi-metal anomalism along a regional shear zone. The metal association over this anomaly variably includes Ni-Cu-Co-Cr-As. The broad anomaly is in the order of 3km long, whilst a central core zone has a strike length of approximately 700m (Figure 2).

The sampling program conducted nominally at 400m x 200m spacing also identified a number of other weaker multi-metal anomalies which will require infill sampling in the future. Peak results at the main calcrete anomaly were: 143ppm Ni, 115ppm Cu, 25ppm Co, 1,130 ppm Cr & 137ppm As. Statistics of the Widomaker calcrete sampling program are listed in Table 1 below.

Table 1. Statistics for main elements of interest, Widowmaker calcrete sampling .

Elementppm	Tot	Min	Max	Mean	Median	25thpercentile	50thpercentile	75thpercentile	90thpercentile
As	289	0	227	6.2	0	0	0	6	17.0
Co	289	0	26	7.0	7	4	7	10	13.0
Cr	289	0	1130	53.9	39	25	39	73	103.2
Cu	289	0	79	20.0	19	14	19	26	35.0
Ni	289	0	143	19.9	19	11	19	30	36.0

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Figure 2. Main calcrete multi-metal anomaly over RTP_1VD magnetic image.

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For further information please contact:

Anthony Maslin

Managing Director

amaslin@buxtonresources.com.au

Competent Persons

The information in this report that relates to exploration results and geology 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.