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

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

Jameson to complete $6.0 million Institutional Placement

Jameson Resources Limited (“Jameson” or the “Company”) is pleased to announce that it has agreed to place 30,000,000 shares at A$0.20 to sophisticated and institutional investors including Macquarie Bank Limited to raise approximately A$6,000,000 (“the Placement”) before costs.

The Placement will be made in two tranches, the first tranche (17,217,551 shares) will be issued under the Company’s current capacity, and the second tranche (12,782,449 shares) following shareholder approval at an EGM with the date to be advised. Corporate advisors Capital Investment Partners acted as joint lead managers of the placement with Blackswan Equities.

Funds raised through the Placement will be used to accelerate the exploration programs planned for the Crown Mountain and Dunlevy coal projects in British Columbia, Canada. Exploration, which will include a significant increase in the drilling component of the programs, will commence on receiving regulatory approvals.

Commenting on the capital raising, Mr John Holmes, Managing Director said, “The capital raising has placed Jameson in a strong financial position and has expanded its investor base to include some key institutional investors. With over A$8M in cash reserves, Jameson is well funded to fast track proposed exploration and baseline environmental studies required for feasibility.”

For additional information, please contact:

WEBSITE

www.jamesonresources.com.au

John Holmes

Managing Director Telephone +61 892004473

DIRECTORS:

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

ASX CODE:

The information pertaining to the technical content of this announcement has been reviewed by Mr John Holmes, who is a member of the Australian Institute of Geoscientists. Mr. Holmes is employed by 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 announcement of the technical information in the form and context in which it appears.

JAL (Fully paid Ordinary Shares)