CAZALY RESOURCES LIMITED — Capital/Financing Update 2009

Jul 27, 2009

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28 July 2009

ASX Release

ALLOTMENT OF SHORTFALL OF NON-RENOUNCEABLE ENTITLEMENT ISSUE

The Directors of Cazaly Resources Limited are pleased to announce that the Company has placed the balance of the Shortfall Securities from its recent Non-Renounceable Entitlement Issue offered pursuant to the Prospectus lodged on 11 May 2009. 544,538 Shares at an issue price of $0.165 each, along with 272,269 free attaching Listed Options, have been issued today. Following this placing the Company now has 86,960,090 Ordinary Shares on issue.

The Directors have now placed the entire shortfall in accordance with Section 1.9 of the Prospectus.

Yours sincerely,

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Nathan McMahon Managing Director

Clive Jones Managing Director

For further information please contact:

Nathan McMahon or Clive Jones (Joint Managing Directors)

Ph: +618 9380 4600 admin@cazalyresources.com.au

Level 1, 22 Oxford Close, West Leederville WA 6007 PO Box 396, West Perth WA 6872

Telephone: (08) 9380 4600 Fax: (08) 9381 5911 Web: www.cazalyresources.com.au