HIGHFIELD RESOURCES LIMITED — Capital/Financing Update 2013

May 16, 2013

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ASX Release

17 May 2013

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HIGHFIELD RESOURCES LIMITED ACN 153 918 257

FIRST TRANCHE OF EMR CAPITAL INVESTMENT AND DIRECTOR APPOINTMENT

HIGHLIGHTS

• Initial EMR Capital Investment of $5.13 million received.

• 23,755,626 shares to be allotted to EMR Capital

Level 1 33 Richardson Street West Perth WA Australia

• Highly regarded industry professional, Richard Crookes, to join the Board as a Non Executive Director.

FIRST TRANCHE PLACEMENT FUNDS RECEIVED

Tel: +61 8 9200 4426 Fax: +61 8 9200 4469

Contact

Mr Anthony Hall Managing Director

E-mail info@highfieldresources. com.au

The Board of Highfield Resources is pleased to confirm it has received the Tranche 1 funds of $5,126,688 from EMR Capital. EMR Capital will be allotted 23,755,626 ordinary shares.

An additional allotment of 16,244,374 ordinary shares at 30c raising $4,873,312 is subject to shareholder approval ( Tranche 2 Investment ). Should the Tranche 2 Investment receive shareholder approval, EMR will hold 40 million ordinary shares. This represents 29.5% of outstanding ordinary share capital on an undiluted basis and 15.9% on a fully diluted basis.

The Board is finalising the Notice of Meeting for shareholders to approve Tranche 2.

DIRECTOR APPOINTMENT

The Board of Highfield Resources is pleased to announce Richard Crookes’ appointment to the Board as EMR Capital’s nominated director.

Officeholders Derek Carter Anthony Hall Pedro Rodriguez Scott Funston Richard Crookes Jonathan Murray Aaron Bertolatti

Issued Capital

119.26 million shares 100 million performance shares

Richard has over 25 years’ experience in the resources and investments industry. Mr Crookes is a geologist by training having worked as the Chief Geologist and Mining Manager of Ernest Henry Mining in Australia (now Xstrata). Prior to Richard joining EMR Capital as an Investment Manager he was an Executive Director in Macquarie Bank’s Metals Energy Capital (MEC) Division where he managed all aspects of the Bank’s principal investments in mining and metals companies.

Richard has extensive experience in deal origination, evaluation, structuring, postacquisition management, client relationship management, marketing and execution of investment entry and exists for both private and public resources companies in Australia and overseas.

10 million options

ASX Code HFR

Anthony Hall Managing Director

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ABOUT HIGHFIELD RESOURCES

Highfield Resources is an ASX Listed potash company with four key projects located in Spain and Australia.

Highfield’s Javier, Pintano and Sierra del Perdon potash projects are located in the Ebro potash producing basin in Northern Spain. The Sierra del Perdon project includes two former operating mines. Highfield’s key objective is to quickly recommence production from these mines. The Javier and Pintano potash projects are located in two separate sub basins within 60 kilometres of the former operating mine. Highfield owns a 100% interest in the five granted tenements with three applications pending that comprise the three projects and cover over 400 km[2] .

Highfield’s McLarty potash project is located in the Canning Basin of northern Western Australia. The Canning Basin contains vast accumulations of Ordovician evaporite salt bearing sediments at relatively low depths underground that is considered prospective for economic potash mineralisation. The Company has entered into a farm in agreement to explore three granted tenements and may obtain an interest of up to 80% of the project.

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Figure 1: Location of Highfield’s Javier project in relation to its Pintano and Sierra del Perdon projects.

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