EV RESOURCES LTD — Interim / Quarterly Report 2013

Jan 30, 2014

ASX ANNOUNCEMENT

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Quarterly Activity Report

For the period ending 31December2013

South East Asia Resources Limited (ASX: SXI ) (“the Company ”), is pleased to provide shareholders with this Quarterly Activities Report for the three (3) months ending 31 December 2013.

Corporate Matters

• As reported on 30[th] September 2013 the Company agreed through its wholly-owned subsidiary, South East Asia Energy Resources (Australia) Pty Ltd (SEA), to extend the expiry date of the option period granted to acquire Tiger Coal Pty Ltd and Energy Investments Pty Ltd (“Target Companies”), the holders of three coal exploration licences in Tasmania, Australia, until 30 November 2013. Subsequently the option was not extended with the parties agreeing to work towards restructuring the agreements upon the license renewal by the Tasmanian Mines Department. SEA, at the same time, has been working with an Offshore Investor Group to not only fully fund the project with SEA but additionally all coal off-take. It is expected that this process will be concluded by the end of February, 2014.

• During the previous quarter, the Company executed a Bond Subscription Agreement with PA Broad Opportunity IV Limited (Subscriber) for the provision of up to A$10 million by way of unsecured bonds, convertible into shares. The Company issued the Initial Tranche Bonds of A$500,000. The Company also issued 15 million shares in satisfaction of the A$300,000 fee for agreeing the Bond Subscription Agreement.

• On 1 November, 2013, based on a conversion notice received forA$190,000 of the initial tranche, the Company issued 11,728,395 fully paid shares.

PROJECTS REVIEW

PT PAR COKING COAL PROJECT (INDONESIA)

The project has secured IUP Production Licensing and has all required infrastructure in place for immediate mine production, including camp, mining equipment, haul road and processing crush facilities. The hauling road distance from the boundary of the PT PAR concession is 32 kilometers to the jetty facility (which has a port weight bridge and belt loading conveyor capacity of 1000Mt per hour). Loading of coal onto export coal vessels is estimated to take 10 hours.

Production commenced during December 2013 with delays through the later part of December and January due to the wet season and Contractor equipment delays.

South East Asia Resources Limited ACN 009 144 503

311-313 Hay Street Subiaco, Western Australia 6008 T:+61 (0) 8 9381 5819 F: +61 (0) 8 9388 3701 www.southeastasiaresources.com.au

The initial production has been undertaken by mining contractor, Debbia Mining, under the mine and project management of United Mining with Indonesian and Australian site management. SEA have been in negotiations and reached preliminary agreement to take over the mining contractor, mining equipment and workforce and undertake all mining direct. This will not only provide much more efficient, but also a lower cost of production. It is expected that this will be finalised by the end of February 2014.

As part of this take-over, SEA will also expand the coking coal resource area and provide for an additional adjoining coal concession for continued production on the expiry of PAR.

In addition to the export supply to Vietnamese Coke Works, the Company has been working with an Indonesian domestic supply for steel production, which anticipates commencement in March 2014. Both export and domestic will be processed at the barge loading port of Telen, which is a short trucking distance from the PT PAR site. The coal will then be loaded onto barges for 30 kilometres, for either trans-shipment to anchorage of Adang Bay for export or direct to domestic steel mill.

TASMANIA COAL PROJECTS

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Figure 1: Map of Tasmanian Coal Projects- Approx. 80kms N of Tasmania

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First stage due diligence has been completed by SEA with drilling completed at the Jericho resource area and a resource study for Woodbury by Golder Consultants. The SEA exploration program comprises of a minimum of 21 exploration holes within the Jericho area (EL26/2008 and EL26/2008 licenses).

These programs also include coal analysis and geophysical logging. All information has been lodged with Mineral Resources Tasmania and licences extensions compliance is being processed.

Tasmanian coal offers consistent properties essential to keep the cement manufacturing process performing at its peak performance. One of the key benefits of using Tasmanian coal in the cement manufacturing process is the ash characteristic of the coal, which reduces the viabilities and quantities of the raw inputs required. Negotiations have commenced and well advanced with two International cement producers who are looking at offtake and also investment into this specific project

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EXPLORATION UNDERTAKEN AND PLANNED BY SXI

The exploration plan and schedule includes:

• Phase I: A planned 1,000-metre drilling program over 21 holes (12cored holes; 9open holes). As at 23 July 2013, 731 metres were completed over 17 holes (12 cored holes; five open holes). This was finalised during the quarter.

• Phase II: Resource and Reserve JORC Reporting and documentation currently being undertaken by Golder Associates. This has not been finalised by the end of the quarter.

• Phase III: A planned 600-metre drilling program over 10 holes (six cored holes; four open holes) to provide for mineable reserve and mining planning. This phase will be depending on the outcome of phase II.

• The Woodbury Coal Deposit is ideally suited to open-cut techniques. The coal is shallow, the stripping ratio attractive, and a sufficient resource available for a continuous long-term mining operation. Special advantages of the proposed Woodbury coal project include:

• All coal seams greater than 30cm in thickness would be recovered by mining with excavators.

• Coal seam recoveries between 85% and 95% should be achievable through open cut mining at the Woodbury site.

• The proposed Woodbury open cut should be of sufficient scale to justify the creation of a large “inpit” coal exposed inventory. A coal-exposed inventory in the order of approximately 100,000 tonnes should guarantee the continuity and regularity of coal supply.

From an infrastructure viewpoint, the rail line is located immediately to the west of the proposed mine site, representing a major financial and strategic advantage with respect to coal transport between the proposed power station and mine.

MALALA MOLYBDENUM PROJECT, SULAWESI, INDONESIA

The Company has maintained the Malala Molybdenum Project and continued discussions with provincial Government and other officials concerning all licenses and administrative matters. The Company holds 95% beneficial percentage interests in the project.

The Malala Project is located in the Toli Toli Regency of Central Sulawesi Province, Indonesia, approximately 150km to the north of Palu. The project comprises five IUP concessions: PT IntiCemerlang, PT Promistis, PT Era Moreco, PT Sembilan Sumber Mas & PT Indo Surya. The total area forming the Malala Project is in excess of 240km2 spread across the five concessions all of which are located within 15km of the coast.

Since acquisition, SXI has worked diligently at compiling and reviewing the historical data and re-initiating the exploration process. The majority of work has targeted Anomaly B, the key area of Rio Tinto/Santos exploration efforts in the 1970’s and 1980’s. The Company has significantly advanced its understanding of the Anomaly B prospect area, with detailed trenching and geophysical surveying making large contributions to this improved understanding.

The Company has entered into negotiations with Indonesian parties with interests in the same area to join together to develop this project. The support of these incoming parties is expected to substantially enhance the projects ability to fulfil all of the requirements to get this project to production. This will effectively relaunch the Molybdenum project and provide a timetable to take the project to production with a suitable off take/technical partner. These arrangements are to be concluded in the next quarter with a view to commencing the financing or joint venture of the project in that quarter.

While the Company has high expectations in relation to the Malala Molybdenum Project, it was decided to take a conservative approach and impair the related capital expenditure of this project at 30 June 2013.

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About South East Asia Resources Limited

South East Asia Resources Limited is a resources focused exploration company listed on the Australian Securities Exchange (ASX code: SXI) and Frankfurt Stock Exchange (FSE code: R1E), with a vision to find, prove and extract value from world-class resource projects in South East Asia.

Forward looking statements

This announcement contains forward-looking statements which involve a number of assumptions, risks and uncertainties. These forward looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

For further information on SEAE, please visit www.southeastasiaresources.com.au

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