JAMESON RESOURCES LIMITED — Capital/Financing Update 2013

May 30, 2013

31 May 2013

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|---|---|
|Fast Facts|ASX: JAL|
|Share Price Range (6mths)|$0.21 ‐ $0.36|
|Shares on issue|158,536,453|
|Options ($0.15 ‐$0.35)|9,080,556|
|Market Capitalisation|~$36M|
|Cash Position (March 31, 2013)|~$3.6M|
|Major Shareholders|
|(as at May 2013)|
|Macquarie Bank|9.6%|
|Nefco Nom PL|6.4%|

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Directors & Management

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

Key Projects

Crown Mountain Coal Project, 90% Elk Valley Coalfields, Canada Dunlevy Coal Project, 100% Peace River Coal Fields, Canada

Investment Highlights

• Positioned in world class metallurgical coalfields

• Significant development expertise on board with successful track record

• Modern rail and port facilities

• Strong financial position

Newsflow / Catalysts

Dunlevy regulatory approvals Q2 2013 Dunlevy exploration commences Q3 2013 Crown exploration commences Overview Q3 2013

Exploration Approval issued for Crown Mountain Coking Coal Project

Highlights

• Notice of Work approved to undertake additional drilling at Crown Mountain

• Coal quality test work including washability to be completed to determine plant yield and understand coking characteristics

• Norwest Corporation retained to manage the exploration program

• Baseline environmental fieldwork continuing

• Site preparation is underway, with drilling expected to commence early Q3, 2013

Jameson Resources Limited (“Jameson” or the “Company”) is very pleased to announce that the British Columbia Ministry of Energy and Mines has issued exploration approval (“Notice of Work” or “NOW”) for additional drilling at its Crown Mountain coking coal project.

The NOW will enable the Company to undertake large diameter diamond core drilling for the collection of large samples. The prime objective of this summer’s exploration program is to carry out washability test work on the core samples to determine plant yield as well as develop a definitive understanding of the coking characteristics of the clean coal product.

In addition, the NOW includes a number of reverse circulation drill holes designed to provide Jameson with the option to upgrade a portion of the Southern Extension Inferred resource, and to delineate a possible modest expansion of resources in the North and South blocks.

Commenting on the news, the Company’s Managing Director, Mr John Holmes said;

Contact Details

Australia

L2, 79 Hay Street, Subiaco WA, 6008 P +61 (8) 9200 4473 Overview F +61 (8) 9200 4463 E admin@jamesonresources.com .au

Canada

“In recent months, Jameson has announced a number of key milestones for the Crown Mountain project, including a 90 million tonne inaugural resource estimate followed by a robust Preliminary Economic Assessment.

Jameson is looking forward to undertaking the exploration program at Crown Mountain this summer as it advances the project toward feasibility.”

S8, 1199 West Hastings, Vancouver P +1 (604) 629‐8605

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www.jamesonresources.com.au

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Figure 1 – Drill Hole Summary Plan

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www.jamesonresources.com.au

On Behalf of the Board of Directors,

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John Holmes

Managing Director

About Jameson Resources Limited

Jameson Resources Limited (ASX:JAL) is a junior resources company focused on the acquisition, exploration and development of strategic coal projects in western Canada. The Company has a 90% interest in the Crown Mountain coal project, and a 100% interest in the Peace River coal projects located in British Columbia. Jameson’s tenement portfolio in British Columbia is positioned in coalfields responsible for the majority of Canada’s metallurgical coal exports and are all close to railways connecting to export facilities.

To learn more, please contact the Company at +61 89200 4473 visit: www.jamesonresources.com.au

Competent Person Statement

The information in this document that relates to the Mineral Resources is based on information compiled by Mr. Geoff Jordan P.Geo., who is a Member of a Recognised Overseas Professional Organisation (ROPO) included in a list promulgated by the ASX from time to time, being the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Jordan is an Independent Consultant [OR/ an employee of Norwest Corporation] 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 Jordan consents to the inclusion in the document of the matters based on his information in the form and context in which it appears.

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.

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Forward Looking Statements

This announcement contains “forward‐looking statements”. Such forward‐looking statements include, without limitation: estimates of future earnings, the sensitivity of earnings to commodity prices and foreign exchange rate movements; estimates of future production and sales; estimates of future cash flows, the sensitivity of cash flows to commodity prices and foreign exchange rate movements; statements regarding future debt repayments; estimates of future capital expenditures; estimates of resources and statements regarding future exploration results; and where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward‐looking statements. Such risks include, but are not limited to commodity price volatility, currency fluctuations, increased production costs and variances in resource or reserve rates from those assumed in the company’s plans, as well as political and operational risks in the countries and states in which we operate or sell product to, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company’s Annual Reports, as well as the Company’s other filings. The Company does not undertake any obligation to release publicly any revisions to any “forward looking statement” to reflect events or circumstances after the date of this release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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www.jamesonresources.com.au