HIGHFIELD RESOURCES LIMITED — Capital/Financing Update 2015

Mar 2, 2015

ASX Release 3 March 2015

MAJOR SPANISH UTILITY CONFIRMS GRID ELECTRICITY SUPPLY FOR HIGHFIELD RESOURCES´ MUGA POTASH MINE

Spanish potash developer Highfield Resources Ltd. (“Highfield” or “the Company”) is pleased to advise it has received confirmation from Iberdrola Distribución (“Iberdrola”) of the grid electricity supply at its flagship Muga Potash Mine.

Under the terms of the agreement, Iberdrola has reserved up to 60 MVA of electrical supply for the Muga Mine at its Rocaforte substation adjacent to the town of Sangüesa. The substation is less than nine kilometres from the proposed Muga Mine aboveground installation (refer figure 1).

40 MVA of capacity will be used for the initial operations with 20MVA of reserve capacity designed to provide expansion options in the future.

Iberdrola is a public multinational electric utility company based in Bilbao, Northern Spain.

Highfield’s Managing Director, Anthony Hall commented:

“This is an important milestone in the development of our flagship Muga Potash Mine.

“We look forward to working with Iberdrola – an important addition to the in-country partnerships we continue to benefit from as momentum builds ahead of our target to commence construction this calendar year.

“Being able to reserve 60 MVA of substation capacity supports our initial mine plans and our longer-term potential to expand the Muga Mine.

“This capability demonstrates the advantages of operating in a first-world country where direct connection to a modernised electricity grid is possible. We expect the soon-to-be-released results of our DFS to benefit from this.”

Registered Office C/– HLB Mann Judd 169 Fullarton Road Dulwich, SA 5065 Australia

Head Office Directors Company Secretary Calle Navas de Tolosa, Derek Carter Donald Stephens 5 - 1°B, 31002 Richard Crookes Pamplona, Anthony Hall Spain Owen Hegarty –––––––––––––––––– Pedro Rodriguez

Highfield Resources Ltd. ACN 153 918 257 ASX: HFR Issued Capital 252.0 million shares 51.5 million performance shares 39.5 million options

–––––––––––––––––– –––––––––––––––––– Tel: +61 8 8133 5098 Tel: +34 948 050 577 Fax: +61 8 8431 3502 Fax: +34 948 050 578

For More Information

www.highfieldresources.com.au

Company

Anthony Hall Managing Director Ph: + 34 617 872 100

Investor Relations Executives

Simon Hinsley APAC Investor Relations Ph: +61 401 809 653

Hayden Locke Head of Corporate Development Ph: +34 609 811 257

Nuala Gallagher / Simon Hudson UK Investor Relations Ph: +44 207 920 3150

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Figure 1: Location of Iberdrola´s Rocaforte substation in relation to Highfield´s proposed Muga Mine Installation

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About Highfield Resources

Highfield Resources is an ASX-listed potash company with four 100%-owned projects located in Spain.

Highfield’s Muga, Vipasca, Los Pintanos, and Sierra del Perdón potash projects are located in the Ebro potash producing basin in Northern Spain covering a project area of close to 400km[2] . The Sierra del Perdón project includes two former operating mines. The Company has completed a preliminary feasibility study (PFS) for its Muga Project and is currently working towards completing a definitive feasibility study (DFS) by the end of the first quarter 2015.

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Figure 2: Location of Highfield´s Muga-Vipasca, Pintano and Sierra del Perdón Projects in Northern Spain

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