KING RIVER RESOURCES LIMITED — Capital/Financing Update 2012

Oct 4, 2012

ASX ANNOUCEMENT

5[th] October 2012

SPEEWAH COPPER / GOLD

Further to the announcement made on the 20[th] September, Speewah Metals Limited provides the following details in relation to the company’s refocus on Copper / Gold exploration.

Speewah controls 575 square kilometres of mineral leases covering a unique geological feature, the Speewah Dome, in the Eastern Kimberley of Western Australia.

Speewah Rock Sample 2010 / 2011

In 2010 / 2011 geologists undertook a soil and rock chip sampling program over

some unexplored portions in the North Eastern sections of the Dome.

Numerous high grade Copper, Gold and Silver assays were evidenced in surface rock samples, with the best results previously reported being 27.25% Copper, 25 ounces per tonne Silver, and 4.97 grams per tonne Gold.

Strong evidence of Copper, Gold and base metal mineralisation exists in several locations over large portions of the Dome (please refer Map 1).

In April 2012, the Board of Speewah commissioned an independent geological consultant to review all previous exploration data.

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----- Start of picture text ----- Rock Samples----- End of picture text -----

As a result a new geological model, with new priorities for copper gold exploration has emerged.

The most important insight from this review was identifying that the most likely control of the high grade Copper / Gold mineralization concentrated at the surface in the Grey’s, Hayden and Eiffler locations was a felsic granophyre rock unit which has mostly been eroded away in the central parts of the Dome.

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----- Start of picture text ----- Map 1----- End of picture text -----

This felsic rock unit skirts the Dome (see Figure 2) and would have previously overlaid some large portions of the disseminated magnetite layers currently exposed at the surface.

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----- Start of picture text ----- Figure 2----- End of picture text -----

A new Copper / Gold exploration model has now been established which prioritises Copper / Gold targets in previously unexplored fault locations, where this felsic granophyre unit has been 3D modelled to be present, and potentially close to surface (refer Figure 3).

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----- Start of picture text ----- Target HorizonsFelsic Granophyre Au, AsLayer AnomalyGreysLargely Untested Mineralisation(by soils or drilling)Cu, PbAnomalyAt edge of soilprogramCu SoilAnomalyABCEDepositAu, AsAnomalyUntested----- End of picture text -----

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----- Start of picture text ----- Figure 3----- End of picture text -----

Speewah is now committed to Copper / Gold exploration and plans to follow up the recommendations contained within the review, including;

• Reprocessing of the 2011 V-Tem survey (underway),

• Further interpretation of the 2011 Gravity and Magnetics surveys,

• Collecting 2,500 soil and rock samples over 10 new locations,

• Follow up RAB drilling on the highest order targets generated from those surveys.

Competent Persons Statement

The information in this report that relates to Exploration Results, Minerals Resources and Ore Resources is based on information compiled by Ken Rogers who is a Member of the Australian Institute of Geoscientists. Mr Rogers, Chief Geologist of Speewah Metals Limited, compiled the technical aspects of this report relating to the Speewah Project and content of this release. Mr Rogers has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being reported on to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves (the JORC Code). Mr Rogers consents to the inclusion in the report of the matters in the form and context in which it appears.

SHARE PURCHASE PLAN

Speewah Metals Limited (ASX: SPM) also announces a Share Purchase Plan for shareholders to purchase up to $15,000 worth of fully paid ordinary shares in the company.

The issue price for each Share under the Offer will be $0.05 which represents a discount of 12.6% to the average price of Speewah shares traded on the ASX over the last 5 days.

The record date for shareholder participation in the Share Purchase Plan is the close of business Perth WST as at 4 October 2012. These shareholders, with a registered address in Australia and New Zealand, will be entitled to apply for up to $15,000 worth of Speewah shares under the SPP.

The provisions of the Share Purchase Plan terms and conditions will be mailed to shareholders as soon as possible.

In accordance with Listing Rule 3.10.3 Speewah provides the following details of the Share Purchase Plan.

Class and terms ofsecurities:	Ordinary fully paid shares.
Maximum number of	39,200,000 shares. Directors reserve the right to scale back applications. Any excess
securities:	application money will be refunded as soon as practicable after the close of the offer.
Issue price:	$0.05 per share.
Purpose of the issue:	Funds raised will be applied to fund ongoing exploration and development of theCompany’s projects.
Shareholder approval:	In accordance with ASX Listing Rule 7.2 exception 15 shareholder approval is not requiredfor the issue of the Share Purchase Plan shares.
Class of security holders:	The issue of shares under the Share Purchase Plan will be made to ordinary shareholders.