Celsius Resources Limited — Capital/Financing Update 2012

Aug 28, 2012

==> picture [267 x 101] intentionally omitted <==

MEDIA RELEASE/ASX ANNOUNCEMENT

29 August 2012

VIEW RESOURCES SECURES COMMITMENTS FOR $4 MILLION CAPITAL RAISING

View Resources Limited (ASX:VRE) ( View or the Company ), to be renamed Celsius Coal Ltd (ASX:CLA), is pleased to announce it has secured binding commitments from sophisticated and institutional investors to subscribe for 200 million shares at an issue price of 2 cents per share to raise $4 million before costs.

CPS Securities acted as Lead Manager to the placement.

The book-build for the placement closed significantly oversubscribed indicating continued strong investor interest in the Company’s Uzgen Basin coal assets, particularly as View progresses its aggressive confirmatory drill programme.

The capital raising will be completed in 2 tranches.

Tranche 1 will be completed under the Company’s existing 15% placement capacity without the need for shareholder approval. This tranche involves the issue of 95 million shares to raise $1.9 million and is due to settle early next week.

Tranche 2 will be completed subject to the Company obtaining shareholder approval at a general meeting, which is expected to be held in early October 2012. This tranche involves the issue of an additional 105 million shares to raise $2.1 million and will settle shortly after the shareholders’ meeting.

Further, on completion of the capital raising, the Company will be fully funded for all of its activities well into 2013.

AUTHORISED BY:

Ranko Matic

Company Secretary

Level 1, 12 Kings Park Road, West Perth WA 6005 PO Box 44, West Perth WA 6872 Ph: (08) 9226 4500 Fx: (08) 9226 4300 ACN 009 162 949