Celsius Resources Limited — Capital/Financing Update 2013

Dec 16, 2013

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ASX RELEASE | 17 December 2013
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CELSIUS ANNOUNCES NEW INFRASTRUCTURE

OPTIONS FOR COAL TRANSPORT

• Kyrgyz Republic Government announces $US 400 million of Chinese funding for construction of new North - South link road

• New road will pass close to Celsius' Uzgen Basin Coking Coal Project and provides additional transport options for domestic and export transport of coal

• The link road will complement the Trans-Asia railway which is also planned to pass within 10 kilometres of Celsius’ Uzgen Basin Coking Coal Project

Kyrgyz Republic Government announces new road infrastructure:

Recent announcements from the Kyrgyz Republic Government have added to Celsius’ coal transport and market access options.

The Kyrgyz Republic Government has recently announced that Chinese funding of US$400m is available for the construction of the first phase of new north-south road transport route between the capital Bishkek and Jalal-Abad near Osh in the south of the country. The road will ultimately form part of a link between the Kyrgyz Republic, China, Kazakhstan and Russia.

The signed funding agreement for construction of the road from Jalal-Abad to Bishkek passes through Kazarman, which was Celsius’ operational base for the 2012 exploration season, and will allow easier access to the Company’s Kokkia and Kargasha deposits in the Uzgen Basin Coking Coal Project.

This road will provide new transport alternatives for Celsius as it looks to develop its coal business in Central Asia and China. Chairman Alexander Molyneux commented “the new road infrastructure will open up new markets for us by creating a much shorter and more efficient transport corridor to Bishkek in the north, as well as additional options for transporting coal into the south of the Kyrgyz Republic and into Uzbekistan. In addition, coal once on this new road is able to link to other existing roads that provide transport options for export via road to Xinjiang Province in China."

It is expected that this new investment will complement the previously announced planned investment in the Trans-Asia railway whose optional routes both pass close by the main Kargasha and Kokkia tenements of the Uzgen Basin Coking Coal Project and connect to China at the Torugart border

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crossing. With the Uzgen Basin Coking Coal Project targeting production from 2015, the timing of this significant infrastructure spend fits very well with Celsius' coal development and production plans.

Figure 1 presented below shows the existing road infrastructure and proposed location of the road and rail transport options.

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Figure 1 – Location of Celsius’ projects and export routes including the proposed Trans-Asia Railway and the new North-South Link road

ABOUT CELSIUS COAL

Celsius Coal Ltd is focused on developing coking and thermal coal deposits in the Kyrgyz Republic.

Celsius owns 80% of its Uzgen Basin Coking Coal Project (comprising: Kargasha; Kokkia; and Min Teke), which cover an established Soviet-era coking coal resource. It also owns 90% of its Alai Range Projects (comprising: Sary Mogol and Bel Alma).

For more information, please visit www.celsiuscoal.com.au or contact Mr Ranko Matic, Company Secretary on +61 (08) 9226 4500.

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