EV RESOURCES LTD — Capital/Financing Update 2008

Oct 14, 2008

RICHFIELD GROUP LIMITED

ABN 66 009 144 503

311-313 HAY STREET SUBIACO, PERTH WA 6008 TELEPHONE (+618) 9381 5819 FACSIMILE (+618) 9388 3701

LISTED ON THE AUSTRALIAN STOCK EXCHANGE

15 October 2008

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

Dear Sir/Madam,

Richfield Group Limited to conduct non-renounceable entitlements issue under Section 708AA of the Corporations Act 2001

The directors of Richfield Group Limited ( Richfield Group ) have pleasure in announcing a nonrenounceable entitlements issue to existing eligible shareholders of up to 209,037,516 New Shares to raise approximately $2,090,375 ( Rights Offer ).

Each eligible shareholder is being offered one (1) ordinary share in the Richfield Group ( New Share ) for every four (4) fully paid ordinary shares held as at the close of business on the record date of the Rights Offer, being 27 October 2008. Each New Share will be offered at $0.01 per New Share. An offer document will be sent to shareholders on the date detailed in the timetable below (“ Offer Document ”).

The Rights Offer is fully underwritten by Transocean Securities Pty Ltd for a fee of 5% and a management fee of 1% of total gross proceeds of the Rights Offer.

The Rights Offer will be extended to Richfield Group shareholders with registered addresses in Australia and New Zealand. Shareholders outside these jurisdictions will be sent the Offer Document for information only and will not be entitled to take up the Rights Offer.

The funds raised under this Rights Offer will be used for working capital and exploration expenditure.

The Rights Offer is non-renounceable and entitlements under the Rights Offer will not be able to be traded. Application will be made to the ASX for the New Shares to be quoted.

An Appendix 3B in respect of the Rights Offer accompanies this announcement. The company confirms it is in compliance with its continuous disclosure obligations.

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Rights Offer

The anticipated timetable* for the Rights Offer is as follows:

Record Date 27 October 2008 Complete dispatch of Offer Document and Entitlement and 29 October 2008 Acceptance Forms Closing Date for Rights Offer 13 November 2008 Securities quoted on deferred settlement basis 14 November 2008 Dispatch of Holding Statements 18 November 2008

These dates are indicative only and subject to change. Richfield Group, in consultation with the Underwriter, subject to the Corporations Act, the ASX Listing Rules and other applicable laws, reserves the right to change any of these dates without notice. This may include extending the Rights Offer or accepting late acceptances, either generally or in particular cases.

Offers and Applications

Offers of New Shares will be made by way of the Offer Document. Eligible shareholders in Richfield Group who wish to participate in the Rights Offer may only do so by completing the personalised Entitlement and Acceptance Form which will accompany their copy of the Offer Document.

Further details on the Rights Offer are contained in the Offer Document, a hard copy of which you will shortly receive.

Yours faithfully

Steven Pynt Chairman

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