BUXTON RESOURCES LIMITED — Interim / Quarterly Report 2016

May 1, 2016

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity

BUXTON RESOURCES LIMITED

ABN Quarter ended (“current quarter”) 86 125 049 550 31 March 2016

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 i Other – GST received/(paid) 1.7 ii Net Operating Cash Flows	Current quarter $A‘000	Year to date (9months) $A ‘000
	38 (211) - - (165) - 7 - - 39	45 (1,704) - - (616) - 25 - - 39
	(292)	(2,211)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other – transfer from term deposit investments Net investing cash flows	- - - - - - - - -	- - - - - - - - 128
	-	128

1.13 Total operating and investing cash flows (brought forward)	(292)	(2,083)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, exercise of options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other – costs of capital raising Net financing cash flows	- - - - - -	2,026 - - - - (132)
	-	1,894
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(292) 2,057 -	(189) 1,954 -
	1,765	1,765

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A’000
		23
		-
1.25	Explanation necessary for an understanding of the transactions
	Item 1.23 includes aggregate amounts paid to directors including salary, directors’ fees, consulting fees and superannuation.

Non-cash financing and investing activities

2.1 2.2	Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
	Not applicable
	Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest
	Not applicable

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount available $A’000	Amount used $A’000
		-	-
		-	-
Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Acquisition of interests 4.4 Administration			$A’000
			200
			-
			-
			150
Total			350

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Term deposit 5.3 Bank overdraft 5.4 Other (provide details)	1,637	1,929
	128	128
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	1,765	2,057

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (see note 3)	Amount paid up per security (see note3)
7.1 Preference +securities 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital,etc.
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Shares released from escrow (c) Decreases through returns of capital,buy-backs	, 88,462,921	88,462,921
7.5 +Convertible debt securities 7.6 Changes during quarter (a) Increases (b)Decreases
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired/lapsed during quarter	4,500,000 2,775,000 3,755,000 4,920,000 7,350,000	- - - - -	Exercise Price 50 cents 63 cents 28 cents 24 cents 12 cents	Expiry Date 15/11/16 15/11/16 15/11/17 7/11/18 30/11/19
	-	-
	4,194,450 3,200,000	4,194,450 -	30 cents 35cents	31/1/16 31/1/16
7.11 Debentures (totals only)	-	-
7.12 Unsecured notes (totals only)	-	-

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

• 2 This statement does give a true and fair view of the matters disclosed.

29 April 2016

Sign here: ..........................................................Date: .................................................

(Company Secretary)

Sam Wright

Print name: .........................................................

Notes

1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.