EV RESOURCES LTD — Capital/Financing Update 2005

Mar 31, 2005

RICHFIELD GROUP LIMITED

ABN 66 009 144 503

LEVEL 1, 9 BOWMAN STREET, SOUTH PERTH WA 6151, AUSTRALIA TELEPHONE: (+61 8) 9367 8133 FACSIMILE: (+61 8) 9367 8812 EMAIL: ROSS@NKH.COM.AU LISTED ON THE AUSTRALIAN STOCK EXCHANGE

1 April 2005 RICHCORTRK/EK/485

The Australian Stock Exchange Company Announcements Office

Dear Sir

The Company advises that the completion date of the Agreement with Richfield International Limited (RIL), (previously Richfield Shipping Pty Ltd) and Richfield Marine Agencies (S) Pte Ltd has been extended from 31 March 2005 to 30 November 2005.

In addition, the in specie distribution of shares in RIL will not proceed until RIL obtains approval for listing on the ASX.

Yours faithfully

$\frac{1}{2}$ $\frac{1}{2}$

Ross Kestel Company Secretary