BUXTON RESOURCES LIMITED — Capital/Financing Update 2014

Jan 15, 2014

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Buxton Resources Limited graphite update

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• Very high grade graphite intersected at Yalbra Graphite Project, of which MZM owns 15%

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• Buxton believes results to be the highest grade graphite drill

• intercepts reported in Australia

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• Significant portion of medium and coarse flake graphite shown in recent petrographic studies

Montezuma Mining Company Limited (ASX: MZM) is pleased to announce that Buxton Resources Limited (ASX: BUX) recently completed a drilling program at the Yalbra graphite project, located east of Gascoyne Junction in Western Australia.

Montezuma continues to maintain its strong balance sheet and positive cash position while also remaining active, working on a number of fronts to deliver on its corporate growth strategy.

Management are continuing to review potential investment and acquisition targets to build a diversified resource asset portfolio.

ABOUT MONTEZUMA MINING AND BUXTON RESOURCES

Buxton Resources Limited owns an 85% interest in the Yalbra graphite project with Montezuma holding the remaining 15% interest. Montezuma will retain a 15% free carried interest up to a decision to mine, then will elect to either contribute on a prorate basis, or dilute to a 1% gross revenue royalty. The tenement is in good standing and there are no known significant impediments to exploration or mining in the area.

Montezuma currently hold 2,372,500 shares in Buxton.

Montezuma’s interest in Buxton and the Yalbra graphite project is consistent with the company’s new growth strategy and commitment to achieving returns for shareholders through selected strategic acquisitions and targeted exploration programs.

FOR MORE INFORMATION…

Mike Moore

Buxton Yalbra graphite project (15%)

Drilling and petrographic results from the Yalbra graphite project are in excess of Buxton’s expectations. Buxton announced on 13 January - 2014, very high grade graphite occurs within multiple zones over 500m strike length and is open at depth and long strike. A significant portion of graphite in petrographic samples was shown to have medium to coarse flakes. Buxton is currently planning its 2014 work program for Yalbra and will provide further information on this once the program has been finalised.

For further details refer to Buxton’s website:

www.buxtonresources.com.au

Chief Executive Officer Phone: +61-8 6315 1400 Email: mmoore@montezuma.com.au Ronn Bechler

Investor Relations, Market Eye Phone: +61-400 009 774 Email: ronn.bechler@marketeye.com.au

Company information, ASX

announcements, investor presentations, corporate videos and other investor material on the Company’s projects can be viewed at

www.montezumamining.com.au

Ground Floor, 31 Ventnor Street, WEST PERTH WA 6005 16 January 2014

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