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CAZALY RESOURCES LIMITED Capital/Financing Update 2011

Mar 30, 2011

64609_rns_2011-03-30_66b3ff24-8377-428e-9f7c-14b6ef294bee.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT

CAZALY RESOURCES Limited

Repayment of Bridging Facility

The Board of Cazaly Resources Limited (ASX: CAZ, “Cazaly”) is pleased to advise that the Company has repaid in full $2,550,000 plus interest in relation to the Bridging Facility entered into with a range of Institutions, Sophisticated Investors and Directors during September 2010.

The Company has in excess of $5 million in working capital following repayment of the loan.

For further information please contact:

Nathan McMahon/ Clive Jones Joint Managing Directors Cazaly Resources Limited Tel: +618 9380 4600 Em: [email protected]

David Tasker

Professional Public Relations Tel: +618 9388 0944/ +61 433 112 936 Em: [email protected]

Website: www.cazalyresources.com.au

Level 2, 38 Richardson Street, West Perth, Western Australia, 6005. PO Box 396, West Perth, Western Australia, 6872 Phone: +61 8 9322 6283 Fax: +61 8 9322 6398 email: [email protected] ACN 101 049334 www.cazalyresources.com.au