HILLGROVE RESOURCES LIMITED — Share Issue/Capital Change 2012

May 22, 2012

==> picture [104 x 52] intentionally omitted <==

23 May 2012

• To: Company Announcements Office

Australian Securities Exchange 20 Bridge Street Sydney 2000 NSW

Dear Sirs

RE: Hillgrove Resources Employee Share Option Plan

Please be advised of the following lapse:

Lapse of 200,000 Employee Options (HGOAC) under the Hillgrove Resources Employee Share Option Plan.

Yours faithfully

==> picture [119 x 56] intentionally omitted <==

Russell Middleton Company Secretary

IIII HILLGROVE RESOURCES LIMITED Level 41 Australia Square, 264 George Street, Sydney NSW 2000, Australia T +61 2 8221 0404 F +61 2 8221 0407 www.hillgroveresources.com ACN 004 297 116