KING RIVER RESOURCES LIMITED — Capital/Financing Update 2009

Jun 28, 2009

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NiPlats Awarded State Government Co-Funded Drilling Grant

ASX ANNOUNCEMENT 29 June 2009

HIGHLIGHTS

NiPlats awarded State Government Co-Funded Drilling Grant; under the Government of Western Australia Exploration Incentive Scheme (EIS);

There were a total number of 168 applicants under the grant scheme. NiPlats was one of 35 successful applicants based on merit of the programme.

NiPlats to receive $110,000 towards Diamond drilling programme planned to take place in August 2009.

NiPlats Australia Ltd (ASX: NIP) (The Company) is pleased to announce that it has been a successful recipient of a State Government of Western Australia Exploration Incentive Scheme(EIS).

The co-funded government-industry drilling program was designed to support innovative drilling by companies in greenfield areas, where additional drilling and promotional activities will potentially lead to new discoveries.

In 2009-10, the co-funded drilling program will preferentially fund high quality, technical and economically based projects that promote new exploration concepts and technologies. Proposals from applicants were assessed by a panel on the basis of geoscientific and exploration targeting merit.

Further information regarding the co-funded drilling grant can be obtained from the official state government website http://www.dmp.wa.gov.au

There were a total of 168 applicants for the co-funded drilling grant which provided funding up to an amount of $150,000. NiPlats was one (1) of only thirty five (35) companies to receive funding.

The grant of $110,000 will be used to partially fund a diamond drilling programme expected to be initiated in August 2009. NiPlats will provide further details of the planned 2009 Exploration Programme in the coming days.

FOR FURTHER INFORMATION, PLEASE CONTACT: NiPlats Australia Limited Level 22 Allendale Square 77 St Georges Terrace Perth WA 6000 Telephone: +61 8 9221 8055 Fax: +61 8 9221 7866

Anthony Barton – Non Executive Chairman Richard Wolanski – Executive Director