Celsius Resources Limited — Capital/Financing Update 2012

Mar 11, 2012

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12 March 2012 MEDIA RELEASE/ASX ANNOUNCEMENT

SUCCESSFUL COMPLETION OF ACQUISITION OF KYRGYZSTAN COAL PROJECTS

View Resources Limited ( VRE or the Company ) is pleased to announce that is has successfully completed the acquisition of 100% of Oshpur Limited ( Oshpur ), a company which holds a 90% interest in the Sary-Mogol and Bel-Alma coal projects located in southern Kyrgyzstan.

To give effect to completion, the Company confirms that it has now advanced the remaining amount outstanding on the loan (US$800,000) to Oshpur.

As announced previously to the market, the following consideration which was previously going to be paid by View to the shareholders of Oshpur ( Oshpur Shareholders ) at settlement, being:

• (a) a cash payment of US$400,000 ( Cash Consideration );

• (b) the issue of 100,000,000 fully paid ordinary shares in the capital of View ( Initial Shares ); and

• (c) the issue of 500,000 performance shares in the capital of View, divided into three separate classes (100,000 A Performance Shares, 200,000 B Performance Shares and 200,000 C Performance Shares) ( Performance Shares ),

will now only be paid by View to the Oshpur Shareholders provided the State Agency for Geology and Mineral Resources grants an extension or renewal of the development agreement (on terms satisfactory to View) relating to the Sary-Mogol licence on or before 30 April 2012 (or such later date as agreed by View) ( Renewal ).

If the Renewal is not obtained, then View will be released from its obligations to pay the Cash Consideration and allot and issue the Initial Shares and the Performance Shares to the Oshpur Shareholders.

No determination has yet been made on the status of the Renewal, however the Company will keep the market informed on any future developments.

AUTHORISED BY:

Ranko Matic Director & Company Secretary