EV RESOURCES LTD — Capital/Financing Update 2008

Sep 30, 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

1 October 2008

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

Dear Sir/Madam

TOLI TOLI PROJECT – RELEASE OF ASSAY DATA AND DRILLING UPDATE

Richfield Group Limited (ASX: RCH) is pleased to provide assay results from the first 197 metres of drillhole M37 which has been completed to a depth of 404.85 metres at its Toli Toli Project in Sulawesi, Indonesia.

Visual observations of drill core confirm that the deposit is a sheeted vein system and that drilling has intersected the veins at a high angle. It is believed that that the drillhole intercepts may represent a near true width of the individual veins.

Based on an arbitrary 1,000 ppm Mo assay cut-off, the mineralised sheeted vein intervals below have a total combined downhole width and assay of 92 metres @ 0.36% MoS2 (0.21% Mo) and 0.48 ppm Re.

These intercepts and assays are in line with visual estimates which suggest that the next 100-150 metres of the remaining 228 metres of core for which assays are awaited may show a similar pattern.

The rhenium (Re) assays show that there is a direct correlation between the higher grade molybdenum assays and the higher grade rhenium assays. With an average rhenium assay of 0.29 ppm (g/t) over the first 197 metres of this hole and using a current spot price of US$ 10,000/kg ($10/gm or US$ 2.90 for 0.29ppm), these assays show that the economics of a future mining operation will be significantly enhanced by the sale proceeds of a rhenium by-product contained within the molybdenum concentrates. The highest rhenium assay returned was 3.08 ppm from a one metre interval assaying 1.07% Mo.

The combined intercepts for the first 197 metres of hole M37 are as follows:-

From 5 to 197 metres: 192 metres @ 0.20% MoS2 (0.12% Mo) and 0.29 ppm Re (rhenium).

2

Including the following intercepts:-

From(m)	To(m)	Interval(m)MoS2(%)Mo(%)Re(ppm)
5	197	1920.200.120.29
Including:
8	9	10.220.130.31
12	14	21.590.962.09
39	50	110.200.120.26
59	89	300.310.190.52
96	102	60.300.180.58
104	105	10.680.410.83
110	121	110.280.170.40
128	142	140.390.240.34
147	148	10.340.200.81
161	167	60.220.130.17
184	191	70.620.370.75
195	197	20.220.130.20
	TOTAL:	920.360.210.48

As of 30th September, the second drillhole M38 was at 149.75 metres and the geologists were able to see visible MoS2 veining (traces-0.1%) within the SAFI (silica altered fractured intrusive) and on fractures indicating that drilling was getting close to the western boundary of the main mineralised zone. It is anticipated that once drilling breaks through the SAFI, the highly mineralised clay-sericite -carbonate altered intrusive as seen in the first hole (M37) should be intersected. Drillhole M38 is a step-out hole, 200 metres from M37 and drilling on the same azimuth (045 degrees) and same declination (-55 degrees).

All samples were prepared at PT Intertek’s Manado laboratory and assayed for molybdenum by XRF at PT Intertek’s Jakarta laboratory and for rhenium using a four acid digest/ICP method at Intertek’s Beijing laboratory. A stringent program of quality control is employed by Intertek throughout the assay process with standards, duplications and blanks being entered into the sample stream at 30 sample intervals.

The Company intends to issue a Notice of General Meeting this week, for a meeting to have Shareholders approve the transaction. This meeting will also seek approval for any other requirements to ensure the Company has complied with Chapters 1 and 2 of the ASX Listing Rules. In addition the Company intends to combine the Regulatory Requirements of the transaction with the Annual General Meeting. It is anticipated that this will be held in mid to late November 2008.

Yours sincerely

Luke Martino

Company Secretary

The information in this release that relates to Exploration, Mineral Resources or Ore Reserves is based on information compiled by Laurie E. Whitehouse, Consulting Geologist, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Whitehouse 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 Reserves (“The JORC Code”). Mr Whitehouse consents to the inclusion in the report of matters based on his information in the form and context in which it appears, and in particular to the results of historical exploration carried out by Rio Tinto and Santos Ltd previously disclosed.