HILLGROVE RESOURCES LIMITED — Major Shareholding Notification 2013

Mar 21, 2013

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Friday, 22 March 2013

• To: Company Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

Dear Sir or Madam:

Notice of Change of Interests of Substantial Shareholder

Pursuant to Section 671B of the Corporations Act, Hillgrove Resources Limited hereby advises of a change of its relevant interest in InterMet Resources Limited.

The enclosed ASIC Form 604 discloses all required details.

Yours faithfully

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Shanthi Smith

Company Secretary

IIII HILLGROVE RESOURCES LIMITED Suite 1709, Level 17 Australia Square Tower, 264 George Street, Sydney NSW 2000, Australia ACN 004 297 116

www.hillgroveresources.com T +61 2 8247 9300 F +61 2 8247 9399

604 page 1/2

15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme INTERMET RESOURCES LIMITED ( ITT )

ACN/ARSN

112 291 960

1. Details of substantial holder (1)

Name HILLGROVE RESOURCES LTD ( HGO ) AND EACH OF ITS WHOLLY OWNED SUBSIDIARIES (SEE ANNEXURE A) (EACH, A HGO GROUP MEMBER )

ACN/ARSN (if applicable) 004 297 116

There was a change in the interests of the substantial holder on 20/03/2013 The previous notice was given to the company on 21/01/2013 The previous notice was dated 21/01/2013

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
Ordinaryshares(ORDS)	10,822,959	18.7%	10,822,959	10.8%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

	Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person’s votes affected
	20/03/2013	EACH HGO GROUP MEMBER	PLACEMENT	N/A - DILUTION	10,822,959 ORDS	EACH HGO GROUP MEMBER

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

	Holder of Relevant interest	Registered holder of securities	Person entitled to be registered	Nature of relevant interest (6)	Class and number of securities	Person’s votes
	HILLGROVE EXPLORATION P/L(HE)	HE	HE	HOLDER OF SECURITIES	10,822,959 ORDS	10,822,959
	EACH HGO GROUP MEMBER OTHER THAN HE	HE	HE	EACH HGO GROUP MEMBER IS ASSOCIATED WITH EACH OTHER	10,822,959 ORDS	10,822,959

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association Name Address EACH HGO GROUP MEMBER SUITE 1709, LEVEL 17, 264-278 GEORGE STREET, SYDNEY NSW 2000 print name SHANTHI SMITH capacity COMPANY SECRETARY sign here date 21/03/2013

6. Addresses

The addresses of persons named in this form are as follows:

Signature

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

• See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included on any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown’”.

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

ANNEXURE A – HGO GROUP MEMBERS

HGO GROUP MEMBER	ACN
Hillgrove Operations Pty Limited	105 935 126
Hillgrove Exploration Pty Limited	111 066 267
Hillgrove Copper Pty Limited	105 074 762
Hillgrove Wheal Ellen Pty Ltd	117 871 093
Hillgrove Indonesia Pty Limited	130 752 411
Hillgrove Copper Holdings Pty Limited	146 034 988