MEC RESOURCES LIMITED — Capital/Financing Update 2010

Oct 7, 2010

PO Box 317, North Perth, WA 6906 14 View Street, North Perth, WA, 6006 T: + 618 9328 8477 F: + 618 9328 8733 info@mecresources.com.au www.mecresources.com.au

==> picture [134 x 65] intentionally omitted <==

ACN 113 900 020

8 October 2010

Companies Announcements Office Australian Securities Exchange Limited 10[th] Floor, 20 Bond Street SYDNEY NSW 2000

Dear Sir/Madam

MEC Resources Ltd - Funding Agreement

MEC Resources Limited (ASX: MMR) is pleased to advise that it has entered into a funding agreement with Bluehawk Capital Pty Ltd (“Bluehawk”). Upon receipt of the final payment Bluehawk will be issued 500,000 shares at 55 cents per share.

MEC Resources welcomes Bluehawk as a shareholder of the company.

The shares will be issued by MMR under Listing Rule 7.1, with proceeds of the raising to be used to manage MEC’s investments and for general working capital.

Yours Sincerely

==> picture [127 x 41] intentionally omitted <==

Deborah Ambrosini Executive Director MEC Resources Ltd PO Box 317 North Perth WA 6906 Tel: +61 8 9328 8477

Media Enquiries: Bill Kemmery Fortbridge Consulting Tel: +61 2 9331 0655 Mobile: +61 400 122 449

MEC is an exploration investment company and relies on the resource and ore reserve statements compiled by the companies in which it invests. All Mineral Resource and Reserve Statements have been previously published by the companies concerned. Summary data has been used. Please refer to relevant ASX releases for details and attribution. Unless otherwise stated all resource and reserve reporting complies with the relevant standards. Resources quoted in this report equal 100% of the resource and do not represent MEC’s investees’ equity share.