HAVILAH RESOURCES LIMITED — Capital/Financing Update 2012

May 16, 2012

www.havilah-resources.com.au

Kalkaroo Copper-Gold Project Drilling Update

Havilah Resources

(ASX:HAV)

Assay results received for the first diamond drillhole in the current Kalkaroo drilling program (KKDD401) confirm the presence of typical mineralised Kalkaroo prospective sequence (KPS) with a 58m interval averaging 0.48% copper and 0.45 g/t gold from 291 to 349m depth. Within this interval there is a molybdenum bearing interval from 333m of 7m of 565ppm molybdenum.

Havilah Resources NL aims to become a significant new producer of iron ore, copper, gold, cobalt and molybdenum from its 100% owned mineral discoveries: Kalkaroo: 124.5 Mt 0.50% Cu 0.39g/t Au Meas+Indic resource plus 18.7 Mt 0.74 g/t Au Meas res Mutooroo: 13.1Mt 1.48%Cu, 0.14%Co Meas+Indic+Inferred res North Portia: 11.3Mt 0.89%Cu, 0.64g/tAu, 500ppmMo Ind+Inf res Portia: 720,000t 2.9g/t Au Inferred resource Maldorky: 147Mt 30.1% Fe (18% Fe cutoff) Indicated resource Excellent potential to expand known resources in all cases. MMG Exploration spending $12m over 5 years exploring for IOCG and sedimentary hosted Pb-Zn

This good result confirms the presence of strong mineralisation in the position predicted, 125m down dip from the adjacent previously deepest hole. Subject to further drilling and mine optimisation studies, this intersection could potentially add significantly to the currently defined within pit copper-gold resource.

MMG Exploration spending $12m All subsequent diamond drillholes in the current over 5 years exploring for IOCG program have intersected variably mineralised KPS, and sedimentary hosted Pb-Zn indicating that the stratigraphic sequence here is deposits on Havilah’s tenements remarkably uniform and predictable. Assays for these holes will be released as the drillcore is systematically Issued Capital logged and sampled on site and assayed.

101.3 million ordinary shares 20.1 million listed options 10.4 million unlisted options

Drilling is currently proceeding at a site 500m southwest of KKDD401, again targeting the KPS 160m down dip from the nearest drillhole. This hole has just intersected the KPS and is expected to continue at least a further 100m until it reaches the footwall.

Contact

Dr Bob Johnson – Chairman + 61 (0)8 83389292

17 May 2012 Page 1 of 2

www.havilah-resources.com.au

==> picture [505 x 274] intentionally omitted <==

KKDD401 cross section showing the relative position with respect to the optimised pit. Note that the dipping Kalkaroo prospective sequence in KKDD401 was intersected approximately 125m down dip from the previously deepest drillhole, and is well outside the current resource and current open pit design.

An updated fly-though of the Kalkaroo deposit can be viewed at

= http://www.youtube.com/watch?v Bqa9rEJvJAk

For further information visit the Company website www.havilah-resources.com.au or contact : Dr Bob Johnson, Chairman, on (08) 83389292 or email : info@havilah-resources.com.au

Competent Persons Statement

The information in this report has been prepared by geologists Dr Bob Johnson, who is a member of the Australasian Institute of Mining and Metallurgy, and Dr Chris Giles who is a member of The Australian Institute of Geoscientists. Drs Johnson and Giles are employed by the Company on consulting contracts. They have sufficient experience which is relevant to the style of mineralization and type of deposit under consideration to qualify as Competent Persons as defined in the JORC Code 2004. Drs Johnson and Giles consent to the release of the information compiled in this report in the form and context in which it appears.

17 May 2012 Page 2 of 2