G11 RESOURCES LIMITED — Capital/Financing Update 2012

Apr 30, 2012

ASX and Media Release

1 May 2012

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Saudi Arabia investment – extension

of documentation timeline

Further to the ASX announcement on 2 April 2012 that Lawson Gold Limited (“ASX:LSN” or Company) has signed a binding term sheet with Mawarid Investments Limited (Mawarid) to acquire a controlling stake in a large portfolio of gold, copper and base metal exploration assets in the Kingdom of Saudi Arabia, the parties wish to advise that they have agreed to extend the target date for completion of formal documentation to 31 May 2012. The date for completion of due diligence has also been extended to 15 June 2012.

LSN and Mawarid have agreed to continue to work towards a 31 July 2012 target settlement date despite the delays in closing formal documentation. Shareholders will be updated on meeting dates and the likely settlement date immediately the formal agreements are signed.

The Company intends to acquire a controlling stake in a suite of gold, copper and base metal exploration assets in the Kingdom of Saudi Arabia and to raise a minimum of A$15 million to accelerate exploration on a number of high priority targets on the 2,247 km² tenement package. As part of the overall transaction, LSN intends to demerge its existing Kalgoorlie, Western Australia exploration assets (inclusive of A$2.2m in cash) into a new company (NewCo) and distribute the shares in NewCo to give shareholders continuing ownership of those assets.

Fast Facts - May 2012 Share Code ASX : LSN Shares on Issue 24.9 million Options 0.9 million Fully Diluted 25.8 million Debt nil Market Cap $4.0 million Cash at Bank $2.1 million as at 31 March 2012

Directors & Management

David Hillier Chairman David Turvey Director Peter Watson N E Director Donald Stephens Co. Secretary

Top Shareholders

JP Morgan Nominees 13.6% John Nyvlt 10.0% First Samuel 7.0% FerrAus Limited 6.0%

Project Location

• 45 km NE of Kalgoorlie

• 20 km N of Kanowna

• 4 km W of Silver Swan

• 25 km from Paddington

Lawson Gold Project

• Land package ~58sqkm

For further details of the proposed Saudi Arabia transaction see the Company’s announcement to ASX of 2 April 2012.

LSN shareholders will receive more details in the coming months including a notice of meeting and explanatory memorandum, independent expert reports and a prospectus.

• 4 x New PL’s granted

• Soil sampling planned

• Technical evaluation of nearby ground and JV opportunities

• Activities for June quarter: Prepare POW’s Aboriginal heritage surveys Soil sampling new gold targets Planning Aircore / RAB drilling

Further Information

David Hillier +618 8418 8541 +61 408 236 408 David Turvey +618 8418 8568

Simon Jemison + 613 9223 2465 c/. Collins St Media