EV RESOURCES LTD — Capital/Financing Update 2008

Oct 15, 2008

ABN 66 009 144 503

RICHFIELD GROUP LIMITED

SUITE 2, LEVEL 10, 3 SPRING STREET, SYDNEY NSW 2000 TELEPHONE: (+612) 9256 8888 FACSIMILE: (+612) 9256 8810

LISTED ON THE AUSTRALIAN STOCK EXCHANGE

16 October 2008

The Manager Company Announcement Office Australian Stock Exchange Exchange Plaza 2 The Esplanade PERTH WA 6000

Dear Sir / Madam

UPDATE ON ACQUISITION OF MOLYBDENUM PROJECT, INDONESIA

Richfield Group Limited ( Richfield or the Company ) confirms that on 15 October 2008, the Company entered into a Share Acquisition Agreement with the shareholders of Victory West Pty Ltd ( Victory West ) to formalise its agreement to acquire 75% of their shares in Victory West as previously announced.

The transaction is subject to a range of conditions including;

• 1) the Company completing satisfactory due diligence investigations into Victory West;

• 2) the completion of due diligence investigations into the assets in Indonesia;

• 3) the Company obtaining all necessary shareholder and regulatory approvals for the proposed transaction; and

• 4) any other regulatory approvals required for the proposed transaction.

At this stage, conditions 1 & 2 have been satisfied. Shareholders are being asked to consider and approve the abovementioned transaction at the Company’s Annual General Meeting to be convened on 26 November 2008. Should shareholders approve the transaction at this meeting, it is anticipated that the abovementioned agreement will become unconditional at this time. The Company is also seeking shareholder approval for other requirements to ensure that the Company has complied with Chapters 1 and 2 of the ASX Listing Rules at this meeting.

Yours sincerely

LUKE MARTINO Company Secretary