EV RESOURCES LTD — Capital/Financing Update 2007

Oct 17, 2007

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement. application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

RICHFIELD GROUP LIMITED

ABN

66 009 144 503

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\overline{1}$ ⁺Class of ⁺securities issued or to be issued

Share Options

• $\overline{2}$ Number of ⁺securities issued or to be issued (if known) or maximum number which may be issued
• Principal terms of the ⁺securities $\overline{3}$ (eg, if options, exercise price and date; if partly paid expiry ⁺securities, the amount outstanding and due dates for payment; if +convertible securities. the conversion price and dates for conversion)

Up to 534,176,013 options. The precise number will be notified to the ASX following the closing date for the option offer.

534,176,013 options available for purchase by shareholders of the company existing at 30 October 2007 for the sum of \$0.001 per option and exerciseable at \$0.01 by optionholders.

Options are exerciseable by optionholders Between the date the quotation of the options on ASX commences, estimated to be 22 November 2007 and 21 May 2009.

⁺ See chapter 19 for defined terms.

4	Do the + securities rank equally in all respects from the date of allotment with an existing + class of quoted +securities? If the additional securities do not rank equally, please state: the date from which they do which the extent to they participate for the next dividend, (in case of the trust. a distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment	Application will be made for the options to be quoted. When exercised the options will result in the creation of ordinary shares which will rank pari passu in all respects with the existing ordinary shares.
5	Issue price or consideration	\$0.001 per option exerciseable after 21 November 2007 for one ordinary share on the payment of \$0.01
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	To raise working capital
7	Dates of entering + securities into uncertificated holdings or despatch of certificates
		Number	+ Class
8	Number and + class of all +securities quoted ASX on (including the securities in clause 2 if applicable)	534,176,013 534,176,013	ordinary shares options

• $\overline{9}$ Number and ⁺class of all *securities not quoted on ASX (including the securities in clause 2 if applicable)
• $10$ Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

Number	+ Class
N/A

Dividends are payable on shares created as a result of exercise of the share options

Part 2 - Bonus issue or pro rata issue

11	holder security approval Is required?	No
12	Is the issue renounceable or non- renounceable?	Non-renounceable
13	Ratio in which the + securities will be offered	1 option for every one ordinary share held by Australian and New Zealand resident shareholders as at 5.00pm (Sydney time) on 30 October 2007, at the price of \$0.001 per option
14	+ Class of + securities to which the offer relates	Options to acquire ordinary shares
15	+ Record determine date to entitlements
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?	Yes
17	Policy for deciding entitlements in relation to fractions	Fractional entitlements will be rounded up to the nearest whole number of ordinary shares
18	Names of countries in which the entity has + security holders who will be not sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.	All countries other than Australia and New Zealand. Shareholders with registered addresses in countries other than Australia and New Zealand are non-qualifying shareholders who will be sent the prospectus only for information.
19	date Closing for of receipt acceptances or renunciations

$+$ See chapter 19 for defined terms.

20	Names of any underwriters	Ashes Capital
21	Amount of any underwriting fee or commission	A fee equal to 5% of the gross proceeds of the option issue is payable by the company to Ashes Capital
22	Names of any brokers to the issue	N/A
23	Fee or commission payable to the
	broker to the issue
24	Amount of any handling fee
	payable to brokers who lodge acceptances or renunciations on behalf of + security holders
25
	If the issue is contingent on *security holders' approval, the date of the meeting	N/A
26	Date entitlement and acceptance	On or before 7 November 2006
	form and prospectus or Product Disclosure Statement will be sent to persons entitled
27	If the entity has issued options, and	N/A
	the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders
28	Date rights trading will begin (if	N/A
	applicable)
29	Date rights trading will end (if applicable)	N/A
30	How do + security holders sell their
	entitlements in full through a broker?	N/A
31	How do + security holders sell part
	of their entitlements through a broker and accept for the balance?	N/A

$+$ See chapter 19 for defined terms.

32 How do ⁺security holders dispose of their entitlements (except by sale through a broker)?

33 ⁺Despatch date $N/A$

On or before 7 November 2007

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• Securities described in Part 1 $(a)$ ΙXΙ
• $(b)$

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35

36

37

If the ⁺securities are ⁺equity securities, the names of the 20 largest holders of the additional ⁺securities, and the number and percentage of additional ⁺securities held by those holders

If the ⁺securities are ⁺equity securities, a distribution schedule of the additional *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$

$5,001 - 10,000$ $10,001 - 100,000$ 100,001 and over

A copy of any trust deed for the additional +securities

⁺ See chapter 19 for defined terms.

Entities that have ticked box 34(b)

• 38 Number of securities for which ⁺quotation is sought
• Class of ⁺securities for which 39 quotation is sought
• 40 Do the ⁺securities rank equally in all respects from the date of allotment with an existing ⁺class of quoted +securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they $\bullet$ participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not $\bullet$ rank equally, other than in relation to the next dividend, distribution or interest payment
• $41$ Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

42 Number and ⁺class of all ⁺securities quoted on ASX (including the securities in clause 38)

Number	+Class

⁺ See chapter 19 for defined terms.

Quotation agreement

• $\mathbf{1}$ ⁺Quotation of our additional ⁺securities is in ASX's absolute discretion. ASX may quote the ⁺securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the ⁺securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation. $\bullet$
• An offer of the ⁺securities for sale within 12 months after their issue will $\bullet$ not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any ⁺securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the ⁺securities be quoted.
• If we are a trust, we warrant that no person has the right to return the $\bullet$ *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the ⁺securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by this form. If any $\overline{4}$ information or document not available now, will give it to ASX before +quotation of the ⁺securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:

Date: .18 October 2007 (Director)

== == == == ==

Print name:

Mark Balfour

⁺ See chapter 19 for defined terms.