EV RESOURCES LTD — Capital/Financing Update 2008

Aug 5, 2008

ABN 66 009 144 503

RICHFIELD GROUP LIMITED

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

LISTED ON THE AUSTRALIAN STOCK EXCHANGE

6 August 2008

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

Dear Sir/Madam

TOLI TOLI PROJECT UPDATE, AUGUST 2008

Richfield Group Limited (ASX: RCH) wishes to announce the following activity and project updates:

• The rig and ancillary equipment was mobilized from Balikpapan to Sulawesi. The three trucks were offloaded at the Sibaluton staging area on 25-26 July 2008 and the equipment, rods, mud etc. readied for slinging into the site of the first hole by helicopter.

• The helicopter was mobilized from Jakarta on 24 July 2008 and arrived at Toli Toli on the afternoon of 26 July 2008. On 27 July the helicopter was readied for flight operations (removal of floats, installation of sling lines etc.) and helicopter slinging operations commenced on 28 July.

• The rig was assembled at the site of the first hole (drill hole M-37 approx. 5 metres from the collar of drill holes M11,12,13 and drilling commenced on 5 August 2008. This hole is designed to replicate the results of drillholes 11, 12 and 13.

• As at 0700 today drillhole M37 is at 13.70 metres and there have been visible sightings of Molybdenum.

• Drillhole A (M37) will take approximately 20 days to complete and samples will be sent for assay on a weekly basis; with assays expected to be received 4 weeks after that and thereafter on weekly intervals. Drillpads B and C have not yet been cleared however it will only take approximately two weeks to ready these two sites for drilling - well in time before the first hole is finished.

• Senior Geologist Mr Heru commenced employment with PT Sulawesi Management Services on 15 July 2008.

• The programme of reconnaissance geological mapping and geochemical sampling will commence soon on all KP’s.

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• Provided the weather is favourable (to date it has not been) mobilization of all remaining ancillary equipment, drilling mud and fuel should be completed by 6 August 2008.

• Construction of the first accommodation block at Nancy camp has been completed and the second accommodation block and toilet/shower facilities are currently nearing completion. It is expected that other facilities such as kitchen, warehouse, generator shed etc will be finished by the end of the current month.

• A contract for the installation and rental of a VSAT communications system has been signed and is expected to be completed within the coming weeks. The Toli Toli office is also now fully functional.

The Company is pleased with the milestones that have been reached in the project and with expenditure to date.

The Company now intends to issue a Notice of General Meeting 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 October 2008.

Yours sincerely

Luke Martino Company Secretary