GENESIS RESOURCES LIMITED — AGM Information 2012

Nov 25, 2012

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GENESIS RESOURCES LIMITED

(ASX: GES)

ASX ANNOUNCEMENT

26 November 2012

2012 Annual General Meeting Chairman and Managing Director’s Address

Chairman’s Address

This financial year has been a remarkable year of progress and achievement for the Company, and I am pleased to advise that the Company has achieved a number of key milestones during the year.

In particular, a significant occasion for the Company was the strengthening of the Board with additional director appointments in May. Peter Kong as Managing Director and Patrick Volpe and John Zee as Non-Executive Directors have collectively been instrumental in reinforcing the Board’s ability to both drive its resource assets to the next level and raise working capital where required.

In April, the Company successfully raised capital through a well subscribed rights issue. In this financial year, the Company has also successfully raised capital through another rights issue and a placement to a strategic investor.

During the year, Genesis was also the subject of an unsolicited takeover offer from Clancy Exploration Limited, which the Board unanimously recommended that all Genesis shareholders reject. After two extensions to the offer period, Clancy closed the takeover offer in August, with the result that it acquired only 8.9% of the Company’s share capital.

Whilst the takeover offer was unsolicited and in the Board’s opinion neither fair nor reasonable to Genesis’ shareholders, the Directors are nevertheless encouraged by the interest demonstrated by other parties in the Company’s assets, and take the view that such interest confirms the potential of these assets.

The loss after tax of the Company for the financial year attributable to the members of Genesis Resources Limited was $935,312. The loss was mainly due to professional, consultancy and administrative fees incurred, and includes a write-off of capital exploration and evaluation assets amounting to $379,688.

I will now hand over to Peter Kong, Managing Director, to address shareholders on the Company’s exciting plans for the current financial year as Genesis enters a phase of significant development.

GENESIS RESOURCES LIMITED ACN 114 787 469 Level 3, 1 Collins Street, Melbourne, Victoria 3000, Australia Tel: +61 3 9286 7500 | Fax: +61 (0)3 9662 1472 | www.genesisresourcesltd.com.au

Managing Director’s Address

Thank you Eddie, I will now provide shareholders with a summary of the Company’s forward strategy and planned activities in the current financial year.

The key focus of the Company’s operations this financial year will be our Plavica Project located in Macedonia. The project is the site of historic mining activity extending back to Roman times. More recently, the Plavica Project has been the subject of substantial exploration by parties including the Yugoslav Government and Rio Tinto, confirming the significant potential of the project.

The Board will continue to seek to capitalise on this potential by swiftly implementing an ongoing exploration and development program designed to progress this project through to a final or bankable feasibility study.

The Company’s drilling contractor, Spektra Jeotek A.S., has recently commenced a drilling program at Plavica Project which includes a minimum of 7,000 meters of reverse circulation drilling and 2,500 meters of diamond core drilling. Having just returned from a site visit to the Plavica Project, I am pleased to advise shareholders that the drilling program is progressing smoothly. My visit to the Plavica Project has been extremely encouraging, and I am optimistic that the drilling program will facilitate the Company’s objective of advancing its resource from an inferred to an indicated JORC status.

In addition, the Company’s scoping study consultant Golder Associates Pty Ltd has commenced a scoping study in relation to the Plavica Project, focussed primarily on moving Genesis towards a prefeasibility study stage, and subsequently to a final feasibility study.

We eagerly anticipate the results from the drilling program and scoping study, and look forward to providing updates to shareholders in this respect.

Whilst the Directors will make it a priority in this current financial year to monetise the value of the Plavica Project, we remain equally committed to developing the Company’s portfolio of exploration assets in Australia.

On behalf of the Board I would like to take this opportunity to thank all shareholders for their continued support of the Company.

-Ends

For further information please contact

Sophie Karzis

Company Secretary T +613 9286 7500

E sk@ccounsel.com.au