BUXTON RESOURCES LIMITED — Capital/Financing Update 2018

Sep 19, 2018

20[th] September 2018

ASX Release

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Aeromagnetic Survey and Field Work Commences at Sentinel

•  High resolution aeromagnetic and radiometric survey commenced

•  Geological mapping and surface geochemistry commenced

•  Sentinel Project highlights

•  Underexplored for Ni-Cu-Co-PGE sulphide

•  Significant volumes of Ruins Dolerite intrusive rocks

•  Primitive rocks, highly prospective for Ni-Cu-Co-PGE sulphide

•  Crustal scale structures and favourable structural architecture

•  Field work includes investigation of Lamproite intrusive for diamonds

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Figure 1 . Sentinel Project tenure over interpreted bedrock geology (GSWA), highlighting the location of known ultramafic within the Ruins Dolerite and a lamproite pipe situated along the Sandy Creek Shear Zone.

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Buxton Resources Limited (ASX:BUX) updates the market that an airborne survey and on ground field work has commenced at Buxton’s 100% owned Sentinel Project. The Sentinel Project is located ~100km along strike from the Merlin Prospect, Double Magic Project in the West Kimberley region of Western Australia (Figures 1 & 2).

Buxton has established the Ruins Dolerite and the West Kimberley as a de-risked, fertile and unexplored new Ni-Cu-Co-PGE province. Continued high grade intersections of Ni-Cu-Co-PGE sulphides within the Ruins Dolerite at Buxton’s Merlin Prospect, Double Magic Project demonstrate ‘proof of concept’ for the potential of this mineralised intrusive suite to host an economic accumulation of Ni-Cu-Co-PGE.

Buxton is actively progressing a large tenement holding in the West Kimberley (Figure 2) exploring for orthomagmatic Ni-Cu-Co-PGE within the extensive Ruins Dolerite. Field work and airborne geophysics has recently commenced at the Sentinel Project (Figures 1 & 2).

The Sentinel Project is underexplored for orthomagmatic Ni-Cu-Co-PGE sulphide mineralisation with no recent mineral exploration targeting this deposit style. The Project area contains many positive indicators such as; large volumes of Ruins Dolerite intrusive rocks, the occurrence of primitive ultramafic, and deep-seated crustal scale structures; as evidenced by a lamproite intrusive plug along the Sandy Creek Shear Zone (Figure 1).

Additional to exploration targeting Ni-Cu-Co-PGE sulphide, Buxton will investigate the diamond potential of the Sentinel Project. The West Kimberley lamproite province hosts the Ellendale Mine which, until its recent closure, produced more than 50% of the worlds fancy yellow diamonds. The province also hosts the recent discovery of diamond bearing lamproites at the Brooking Prospect by Lucapa Diamond Company Limited ( refer to recent ASX announcements ASX:LOM ).

A high resolution (50m traverse line spacing) aeromagnetic and radiometric survey is currently being flown over the Sentinel Project by MAGSPEC Airborne Services Pty Ltd. The survey data will assist in mapping and interpretation of the Ruins Dolerite intrusive package. Petrology of a highly prospective former Olivine rich ultramafic (Figure 1, sample 182031) at Sentinel showed that this intrusive should have a strong magnetic signature and airborne magnetics will help define its extents.

Geological mapping and surface geochemistry at the Sentinel Project have commenced and is on-going.

Drilling is also continuing at Buxton’s Merlin Prospect, Double Magic Project (ASX:BUX, 17/09/2018).

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Figure 2 . Buxton’s West Kimberley Ni-Cu-Co Project granted and pending tenements over interpreted bedrock geology (GSWA 1:500,000). Granted tenure in red, pending in blue, Merlin group (granted) in yellow.

For further information, please contact:

Eamon Hannon Sam Wright Managing Director Company Secretary ehannon@buxtonresources.com.au sam@buxtonresources.com.au

Competent Persons

The information in this report that relates to Exploration Results is based on information compiled by Mr Eamon Hannon, Fellow of the Australasian Institute of Mining and Metallurgy, and Mr Derek Marshall, Member of the Australian Institute of Geoscientists. Mr Hannon and Mr Marshall are full-time employees of Buxton Resources. Mr Hannon and Mr Marshall have sufficient experience which is relevant to the activity being undertaken to qualify as a “Competent Person”, as defined in the 2012 edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hannon and Mr Marshall consent to the inclusion in this report of the matters based on the information in the form and context in which it appears.