BUXTON RESOURCES LIMITED — Capital/Financing Update 2013

Jan 9, 2013

ASX ANNOUNCEMENT – 10[th] JANUARY 2013

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Widowmaker Ni-Cu Project – Exploration Update

Highlights:

• Detailed fixed loop and moving loop ground EM surveys contracted and planned to cover all 14 VTEM anomalies

• Government co-funded exploration drilling grant of $150,000 approved

• Aboriginal heritage survey and clearing of access tracks completed

• Focused soil/calcrete geochemical sampling commenced over VTEM targets and additional regional geochemistry targets

Ground Electromagnetic Survey Underway

Buxton Resources is pleased to provide this update on exploration progress at its 100%owned Widowmaker Ni-Cu Project.

Following on from the success of the Airborne VTEM survey flown late last year, the Company has commenced ground Fixed Loop Transient Electromagnetic (FLTEM) and Moving Loop Transient Electromagnetic (MLTEM) surveys over 14 interpreted bedrock conductors identified in the previous heli-borne VTEM survey (Figure 1). The ground EM survey is expected to take approximately 3-6 weeks to complete and is designed to further define the orientation and geometry of bedrock conductors.

Clearer definition and modelling of the bedrock conductors will increase the chance of success for the planned drilling program which will commence as soon as practically possible after the ground EM survey is complete.

PO Box 9028 Subiaco WA 6008 Suite 1, First Floor 14-16 Rowland Street Subiaco WA 6008

Tel: 08-9380 6063 Fax: 08-9381 4056 www.buxtonresources.com.au info@buxtonresources.com.au

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Figure 1: Ground EM surveys will be conducted over priority 1 and priority 2 VTEM anomalies

Figure 2: Location of Widowmaker Ni-Cu Project in relation to Sirius’ Nova Discovery

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Government Grant

Buxton Resources is also pleased to announce it has been successful in obtaining funding under the WA Government’s co-funded Exploration Incentive Drilling Scheme, offered by the Department of Mines and Petroleum. The grant is capped at $150 000 and will be used by the Company to partially fund a first pass drilling program to test bedrock VTEM/ground EM anomalies for nickel and copper sulphide mineralisation.

Heritage Clearance and Access

During December the Ngadju People completed a heritage survey over the entire Widowmaker tenement. No sites or items of archaeological or Aboriginal interest were located, thus clearing future exploration work programs to go ahead.

The Company has also completed over 50 line kilometres of track clearing in order to easily access all of the major VTEM anomalies.

Competent Persons: The information in this report that relates to Exploration Results is based on information compiled and/or reviewed by Dr Julian Stephens, Member of the Australian Institute of Geoscientists and NonExecutive 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 Jodi Haslinger Managing Director Joint Company Secretary amaslin@buxtonresources.com.au jodi@buxtonresources.com.au