NORWOOD SYSTEMS LIMITED — Capital/Financing Update 2012

Apr 25, 2012

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ASX Release

BURKINA FASO GOLD PROJECT UPDATE

April 26, 2011

MONTERAY MINING GROUP Tel: +61 7 5538 2558 Fax: +61 7 5526 8922 info@monteraymining.com.au www.monteraymining.com.au

Contact:

JOHN HANNAFORD

Director jhannaford@monteraymining.com

Highlights

• Tenement transfers completed, acquisition conditions met

• Exploration program commenced

• New geological interpretation of adjacent licences identifies prospective greenstone formations on Monteray licences

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STEVE COLE

Company Secretary scole@charpac.com.au

Monteray Mining Group Ltd ("Monteray") is pleased to provide an update on its acquisition of three exploration licences in western Burkina Faso prospective for gold.

Projects:

Burkina Faso

3 gold exploration permits covering 416 km[2] in western central Burkina Faso.

On 14 June, 2011, Monteray announced that it had entered into an agreement to acquire 100% of Vema Resources Pty Ltd (“Vema”) subject to due diligence and other conditions.

Licence Transfers complete

Western Australia

5 gold tenements located predominantly in the Mt Monger region east of Kalgoorlie covering an area of 2,610 ha

Directors:

Kevin Dart - Chairman Sandy Barblett - Director John Hannaford - Director

One of the conditions was that three exploration permits were to be transferred into a newly incorporated Burkinabe Vema subsidiary. These transfers have been pending since mid 2011, and have now been completed.

The acquisition is also conditional upon shareholder approval. The Company will shortly circulate a notice of Extraordinary General Meeting to approve the acquisition.

Issued Capital:

31.5 m Ordinary Shares 16 m Unlisted Options

ASX Code: MRY

Cash (31 Mar 2012) - $2.0m

Exploration Program commenced

Monteray has agreed with the Vema vendors for Monteray to commence exploration activities prior to completion. Monteray has engaged SEMS Exploration in Burkina Faso to undertake a preliminary reconnaissance survey which was carried out in early April. Based on the results of this survey SEMS will delineate an initial exploration program to commence in Q2 2012.

Regional Geological Interpretation Enhances Prospectivity

Monteray has followed exploration activities on neighbouring licences held by SEMAFO Inc. with close interest. SEMAFO has the 3+ Moz Mana gold mine to the south-west south on contiguous acreage. SEMAFO recently released an udated geological interpretation of the adjacent ground.

Figure 1, below, shows the SEMAFO interpretation with greenstone formation heading in a westerly direction through the Tigan permit and towards the Kara permit.

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Figure 1, showing Monteray licences in dark blue, SEMAFO licences in light blue

SEMAFO have also interpreted trends and mag lineaments from its sampling and drilling programs on adjacent licences. Figure 2, below, shows these trends heading in a south-west direction towards Monteray’s permits.

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Figure 2, showing geological trendlines (dotted) interpreted by SEMAFO on its licences (black), with Monteray licences in blue.

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New Projects

Monteray is continually assessing new gold project opportunities to augment its portfolio.

For and on behalf of Monteray Mining Group Ltd

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John Hannaford Director

Ph: +61 8 9482 0501

Monteray Mining Group Ltd

About Monteray Mining Group Ltd

Monteray Mining Group Ltd was relisted on ASX in February 2011 following the acquisition of a portfolio of gold licences located in the goldfields region of Western Australia, and the raising of $3.5 million. In June 2011 the Company entered into an agreement to acquire Vema Resources Pty Ltd, which holds the rights to three newly granted gold exploration permits located in western Burkina Faso, as set out in the map below.

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Project location map, showing the location of the three permits in western Burkina Faso

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