CRITICAL RESOURCES LIMITED — Capital/Financing Update 2011

May 23, 2011

ASX Release 24th May 2011

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119m Gold Mineralisation

including 51 metres @ 2.1 g/t gold

Sovereign Gold Company Limited ACN 145 184 667

Level 2, 131 Macquarie Street Sydney NSW 2000 Tel: +61 2 9251 7177 Fax: +61 2 9251 7500

Drilling at Martins Shaft has confirmed the gold mineralisation is derived from a significant, newly discovered Intrusion-Related Gold System. This discovery, pioneered by Sovereign Gold, could potentially transform gold exploration within granitic terrain throughout the entire New England Gold Belt leading to the development of a world class gold province.

Update Highlights

• Gold lode widening

Contact Nick Raffan CEO

email: nraffan@sovereigngold.com.au

• 119 metres @ 1.1 grams per tonne (g/t) gold including 51 metres @ 2.1 g/t

• High silver grades ranging from 30-159 g/t

Latest News www.sovereigngold.com.au

Directors / Officers John Dawkins AO Nick Raffan Michael Leu Peter Meers Jacob Rebek

ASX Symbol: SOC

Martins Shaft

Drill Hole SGRRC030 – gold intercepted 119m at an average grade of 1.1 g/t with 51 metres @ 2.1 grams per tonne gold including:

• 17 metres @ 4.9 g/t gold

• 5 metres @ 10.3 g/t gold

• 1 metres @ 16.0 g/t gold

The highest grade gold intercept interval was from 76-80 metres. This interval was also associated with high silver grades ranging from 30-125 g/t.

Depth	Gold	Silver
Metres	g/t	g/t
76	12.45	74.90
77	16.00	125.00
78	9.94	60.70
79	4.39	37.30
80	9.85	31.70

Qualifying Statement

The information in this Report that relates to Exploration Information is based on information compiled by Michael Leu who is a member of the Australian Institute of Geoscientists.

Mr Leu is a qualified geologist and is a director of Sovereign Gold Company Limited.

Mr Leu has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of exploration Results, Mineral Resources and Ore Resources. Mr Leu consents to the inclusion in this announcement of the Exploration Information in the form and context in which it appears.

The highest silver grade was encountered from 67-68m: 159 g/t silver with 2.1 g/t gold.

Gold Lode Widening

Drill Hole SGRRC017 intercepted 25 metres gold @ 1.24 g/t gold from 76101 metres downhole including three 2 metre intervals at @ 3.93, 3.3 and 2.9 g/t gold.

Mineralisation was also encountered in holes SGRRC035 and SGRRC036 drilled 10m and 20 metres west of SGRRC017 (data in preparation).

These holes confirm the gold lode at Martins Shaft is widening with depth and plunging to the south-west.

For further information please contact:

Nick Raffan, CEO Telephone: +61 2 9251 7177

ASX Release 24[th] May 2011 Page 2

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----- Start of picture text ----- Sovereign Gold CompanyMartins Shaft ProspectSection 347690 E (GDA94)----- End of picture text -----

Figure 1 - Plot of Drill Intercepts Martins Shaft along Section 347690E.

RC Hole SGRRC030 was drilled down plane of mineralisation. The base of the hole passed along and through the eastern margin of the lode. SGRRC030 was collared 10 metres to the east of Section 347690E and has been projected into Section. Holes (SGRRC035, SGRRC036) were drilled to the west of SGRRC017 indicate the lode is extending in that direction.