GENESIS RESOURCES LIMITED — Capital/Financing Update 2012

May 10, 2012

==> picture [305 x 82] intentionally omitted <==

GENESIS RESOURCES LIMITED

(ASX: GES)

ASX Release

11 May 2012

Completion of Rights Issue

Genesis Resources Limited (the Company or Genesis ) is pleased to advise that its nonrenounceable pro-rata rights issue under the Company’s Offer Information Statement dated 28 March 2012 has been successfully completed.

A total of $1,194,316.92 (before expenses of the offer) has been raised under the rights issue.

Underwriter Securities

Further to the ASX announcement dated 4 May 2012, the Company confirms that the following shares and unlisted options exercisable at $0.10 and expiring 11 May 2014 have now been issued and allotted to the Underwriter and/or its nominees:

Underwritten shortfall shares: 7,110,952 Free attaching options to the underwritten shortfall shares: 7,110,952

(collectively Underwriter Securities )

An Appendix 3B in relation to the issue of the Underwriter Securities and the application for quotation of the underwritten shortfall shares on the ASX will accordingly follow this announcement.

Effect of Rights Issue on Capital Structure

The Company confirms that pursuant to the allotment of the Underwriter Securities and quotation of the underwritten shortfall shares, there will be 79,621,128 fully paid ordinary Genesis shares quoted on the ASX.

A table showing the Company’s current capital structure is set out below.

GENESIS RESOURCES LIMITED ACN 114 787 469 Level 3, 1 Collins Street, Melbourne, Victoria 3000, Australia

Tel: +61 3 9665 0411 | Fax: +61 3 9650 5571 | www.genesisresourcesltd.com.au

Fully paid ordinary shares

EVENT	NO. OF SHARES
Shares on issue before Rights Issue	53,080,752
New shares issued to shareholder applicants under Rights Issue	19,429,424
New shortfall shares issued to underwriter and/or its nominees underRights Issue	7,110,952
Total new shares issued pursuant to the Rights Issue	26,540,376
TOTAL SHARES CURRENTLY ON ISSUE AFTER COMPLETION OF THERIGHTS ISSUE	79,621,128

Unlisted options to acquire fully paid ordinary shares

EVENT	NO. OF OPTIONS
Options on issue before Rights Issue:	500,000
Unlisted options exercisable at $0.20 on or before 27 October 2012	500,000
Total new options issued pursuant to the Rights Issue	26,540,376
Free attaching unlisted options (on a 1:1 basis per new share issued)exercisable at $0.10 and expiring 4 May 2014	19,429,424
Free attaching unlisted options (on a 1:1 basis per new share issued)exercisable at $0.10 and expiring 11 May 2014	7,110,952
TOTAL OPTIONS CURRENTLY ON ISSUE AFTER COMPLETION OFTHE RIGHTS ISSUE	27,040,376

A statement setting out the names of the 20 largest holders of fully paid ordinary shares and the percentage held by each pursuant to the rights issue will follow this announcement.

-End

For further information, please contact:

Sophie Karzis

Company Secretary T. 03 9665 0460 F. 03 9650 5571 M. 0409 540 827 E. sk@ccounsel.com.au

2 | P a g e