JAMESON RESOURCES LIMITED — Capital/Financing Update 2011

Dec 22, 2011

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23 December 2011

ASX RELEASE

JAMESON RESOURCES LTD

ACN 126 398 294

Level 2, 79 Hay Street Subiaco, WA , 6008 Phone+61 (8) 9200 4473 Fax +61 (8) 9200 4463

Suite 800, 1199 West Hastings St Vancouver, BCV6E 3TS Phone +1 (604) 629 8605

New Chairman appointed following completion of Dunlevy and Nexx transactions

Highlights

• Jameson has completed the acquisition of Dunlevy Energy Inc. and its asset, the Dunlevy coal project

• Jameson has also completed the acquisition of the Graham River, Peace Reach and Carbon East coal projects from Nexx Coal Inc.

• An entitlements issue to raise $1,775,481 has been completed in conjunction with these acquisitions

• David Fawcett has been appointed as Chairman

• A staged exploration program will commence at Dunlevy upon receipt of regulatory approvals

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CONTACT:

JOHN HOLMES Managing Director john.holmes@jamesonresources.com.au

ART PALM

Executive Director - Operations art.palm@jamesonresources.com.au

DAVID PRENTICE

Non Executive Director david.prentice@jamesonresources.com.au

WEBSITE

www.jamesonresources.com.au

DIRECTORS:

David Fawcett (Chairman) John Holmes (Managing Director) Art Palm (Executive Director - Operations) David Prentice (Non Exec. Director) Jeff Bennett (Non Exec. Director)

Jameson Resources Limited (“Jameson” or the “Company”) is pleased to announce that it has completed the purchase of Dunlevy Energy Inc. which provides the Company with the Dunlevy coal project (“Dunlevy Project”). In addition the Company has completed the transaction to acquire certain assets of Nexx Coal Inc. (“Nexx”) including the Graham River, Peace Reach and Carbon East coal projects (“Nexx Projects”) which are all located in northeast British Columbia, Canada.

In conjunction with the acquisition of the Dunlevy Project and the Nexx Projects (“the Projects”), the Company is very pleased to announce the appointment of Canada-based coal mining executive David Fawcett as Non-Executive Chairman of the Company. Mr Fawcett is a highly regarded coal mining engineer, developer and executive credited with playing a major role in reviving the coal industry in northeast British Columbia.

Mr Jeff Bennett has resigned as Chairman of the Company and will remain on the Board as a Non-Executive Director. The Board wishes to thank Mr Jeff Bennett for his role as Chairman since the Company was founded in December 2007.

ASX CODE:

JAL (Fully paid Ordinary Shares)

Mr. Fawcett’s immediate focus will be to advance the Dunlevy Project through the management and completion of staged drilling programs, resource estimation and execution of a feasibility study. He will also play a major role with the assessment and potential acquisition of new coal projects. Mr Fawcett’s proven commercial and operational experience gained in the Western Canadian coal industry will be key in the Company’s development strategy moving forward.

Entitlements Issue

The Company also wishes to advise that the shortfall of 1,983,325 shares from the Company’s recent entitlement’s issue has now been taken up by the underwriter. Total funds now received from the entitlements issue is $1,775,481 before associated costs.

Any enquiries regarding this announcement should be directed to Jameson’s Managing Director, John Holmes.

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John Holmes

The information pertaining to the ASX Announcement to which this statement is attached that relates to exploration results is based on information compiled by Mr John Holmes, who is a member of the Australian Institute of Geoscientists. Mr. Holmes is a full time employee of Jameson Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Holmes consents to the inclusion in the ASX Announcement of the matters based on his information in the form and context in which it appears.