BUXTON RESOURCES LIMITED — Interim / Quarterly Report 2011

Jul 28, 2011

==> picture [156 x 55] intentionally omitted <==

ASX Code: BUX, BUXO Frankfurt: 3B4.F Share Price: 0.29 Shares on Issue: 40.1M No of listed options: 4.0M Market Cap: 11.62M Cash at Bank: $2.59M

==> picture [180 x 73] intentionally omitted <==

Quarterly Activities Report

For the three months ending June 2011

Summary & Highlights for the Quarter

Highlights

• Drilling commences at Zanthus project (100% Buxton).

Contact Details

50 Derby Road, Subiaco WA 6008 PO Box 9028, Subiaco WA 6008 Tel: 08 9380 6063 Fax: 08 9381 4056 Email: info@buxtonresources.com.au www.buxtonresources.com.au

• In house ground magnetics program significantly upgrades Joplin and Hendrix (formerly Joplin area

  • B) targets.

Board Members

Seamus Cornelius

Chairman Anthony Maslin Managing Director Sam Wright Non-Executive Director

Events post completion of quarter

Joint Company Secretaries

Sam Wright Jodi Haslinger

==> picture [197 x 267] intentionally omitted <==

• Drilling at Cohen prospect intercepts magnetite up to 60 metres wide over 4kms of strike from a depth of 20 to 50 metres.

• Drilling at Marley and Joplin appears to have intersected significant mineralisation.

• Drilling program extended due to initial success.

• Initial resource and expanded exploration target expected in the upcoming quarter.

29[th] July 2011

Buxton – June 2011 Quarterly Activities Report

Zanthus (E28/1957)

Cohen prospect

On June 23rd 2011, drilling commenced at Buxton’s 100% owned Zanthus Magnetite Project, located 230kms east of Kalgoorlie, Western Australia.

The planned 5000 metre program aims to prove up an initial inferred resource at the Cohen prospect, where wide zones of high grade, coarse grained magnetite were discovered in October 2010.

This is currently underway, preliminary results indicate a zone of magnetite from depths of approximately 20 to 50 metres, ranging from 40 – 60 metres wide.

Twelve additional holes have been drilled at the time of writing, with a further 5 holes planned as part of the current program.

Whilst the results are preliminary in nature, this represents an upgrade of the potential exploration target at Cohen. Further results are expected in 3 to 4 weeks time.

2

29[th] July 2011

Buxton – June 2011 Quarterly Activities Report

==> picture [449 x 625] intentionally omitted <==

Figure 1: Cohen Ground Magnetics Diagram

3

29[th] July 2011

Buxton – June 2011 Quarterly Activities Report

Dylan, Joplin and Hendrix Prospects

Prior to the commencement of drilling, Buxtons exploration team conducted an extensive ground magnetics program over the Cohen, Marley, Joplin and Dylan prospects. At Dylan, Hendrix (formerly Joplin Area B) and Joplin, this resulted in what appears to be shallow anticlines with near horizontal limbs, indicating potential for large tonnages.

Initial drilling attempts proved problematic due to the presence of running sands. Drilling has now recommenced with mud rotary drilling required to penetrate the running sands. The first hole has intersected what appears to be significant mineralisation at a depth of approximately 70 metres. A further eight holes are planned for Dylan, Joplin and Hendrixs prospects combined.

Marley Prospect

An initial three holes have been drilled at Marley, intercepting magnetite at a depth of approximately 80 metres. This is significant as it represents the first magnetite from this area of a regional magnetite feature over 20kms long, which includes the Marley, Dylan and Joplin prospects. However, the depth and apparent more vertical nature of Marley combined with the prospectivity of other targets mean that drilling has been re-allocated elsewhere.

In House Ground Magnetics Surveys

High quality data from the in house ground magnetics surveys has enhanced the magnetite exploration potential of the area. This inexpensive exploration method has resulted in excellent drill hole placement, eliminating deeper targets and allowing drilling to be concentrated on less deeply weathered areas with very high magnetic signatures. The current and past field activities have proven very accurate in reconciling modelled targets with actual drilled results, and on this basis, the current drill program has significantly changed to suit the information obtained by the concurrent ground magnetics mapping.

Dempster Project, Fraser Oregen WA

(E63/1114, E63/1121 (90% Buxton), E63/1351 (100% Buxton)

No field activity was conducted on the Dempster Project during the quarter.

4

29[th] July 2011

Buxton – June 2011 Quarterly Activities Report

==> picture [451 x 403] intentionally omitted <==

Figure 2: Regional Magnetic Targets

Upcoming Events

Given the initial drilling success and encouraging ground magnetics results at all prospects, the board has resolved to extend the program in order to achieve an initial inferred resource at Cohen and a better understanding of the exploration targets at Joplin, Dylan, Marley and the newly identified Hendrix.

The extended drilling program is expected to be completed in 12 to 14 days, with the first results due in the following weeks.

5

29[th] July 2011

Buxton – June 2011 Quarterly Activities Report

The Information in this report that relates to exploration results is based on information compiled by Trevor Saul, who is a member of the Australian Institute of Mining & Metallurgy. Mr Saul is a geologist and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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. Trevor Saul consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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 Ph; 08 9380 6063

6