CRITICAL RESOURCES LIMITED — Capital/Financing Update 2013

Nov 17, 2013

ASX Release 18[th] November 2013

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Precious Metal Resources Limited ACN 145 105 148

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

Contact Michael Leu Managing Director

Email: mleu@pmrl.com.au

Latest News www.pmrl.com.au

Directors / Officers

John Dawkins AO Non-Executive Chairman

John Foley Non-Executive Deputy Chairman Michael Leu Managing Director

Peter Kennewell Chief Geologist

Bruce Dennis Non-Executive Director

Peter Meers Non-Executive Director

ASX Symbol: PMR

PMR acquiring Peel Fault Gold Project from Gossan Hill Gold Limited

Precious Metal Resources Limited (ASX: PMR) (PMR) is acquiring 100% interest in the Peel Fault Gold Project, previously the subject of a Farm-In and Joint Venture Agreement with Gossan Hill Gold Limited (Gossan Hill), a subsidiary of Sovereign Gold Company Limited (ASX: SOC) (87%).

The Peel Fault Gold Project is located north of Tamworth in northeastern NSW, east of the towns of Manilla, Barraba and Bingara.

PMR will issue 2 million FPO shares to Gossan Hill as consideration for the acquisition of 100% interest in the Peel Fault Gold Project.

Peel Fault Gold Project

The Peel Fault Gold Project (ELs 6648, 7725, 7726, 7862 and 7863, 8161 and ELAs 4858, 4859, 4897) is a major geological suture separating sedimentary rocks in the Tamworth Trough on the west from Ordovician and Cambrian deep ocean floor volcanics and sedimentary rocks to the east, including a suite of extensively serpentinised ultramafic rocks adjacent to the Fault.

The Prospect area is north of Tamworth and very well located with respect to infrastructure, including transport, power and water. The land tenure in the tenements is predominantly freehold.

PMR regards the Peel Fault as a major underexplored gold belt with 3 main types of mineralisation:

• Greenstone Belt Gold: Californian Mother Lode Au. Orogenic Liswanite (Silica-Carbonate-Au)-hosted Gold – Approximately half the World’s gold has been produced from greenstone hosted deposits.

• Intrusion-Related Gold Systems (Large tonnage Au deposits). Altered gold-bearing monzonite dykes.

• High Grade Narrow Vein Orogenic Reef/Structure.

JORC STATEMENT

The information in this report that relates to mineral exploration is based on information compiled by Peter John Kennewell, who is a member of the Australasian Institute of Mining and Metallurgy. Peter John Kennewell is a director of Precious Metal Resources Limited, and 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, Identified Mineral Resources, and Ore Reserves”. Peter John Kennewell consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Crow King EL 6648 has been identified as a highly prospective target by PMR.

PMR has assembled a geological team with a total of over 150 years in experience with requisite technical expertise in gold exploration and mining to advise and support the exploration programme.

For further information please contact: Michael Leu, Managing Director

Telephone: +61 2 9251 7177

Media enquiries: Rebecca Lawson, Mercury Consulting Mobile: +61 432 398 122 Rebecca.lawson@mercuryconsulting.com.au

ASX Release 18[th] November 2013 - Page 2

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Peel Fault Geological Team
Dr Andrew White	45 years experience in exploration, project development, mine management and financial evaluation of mining investments
Jacob Rebek	Highly regarded mine-finder. Senior exploration management positions in CRA and Rio Tinto
Dr Kris Butera	Successful ore finder and multi-skilled geologist with extensive experience in conducting and managing gold exploration
Michael Leu	Leading expert in Intrusion-Related Gold Systems. Extensive experience in Peel Fault mineralisation potential
Peter Kennewell	45 years exploration experience in commodities in Northern NSW

Precious Metal Resources Assets Overview

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ASX Release 18[th] November 2013 - Page 3

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Location map showing ELs and ELAs of the Peel Fault Project.

ASX Release 18[th] November 2013 - Page 4

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Schematic geological map of New England showing location of the Peel Fault