ORA BANDA MINING LTD — Capital/Financing Update 2008

Jul 9, 2008

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ASX / MEDIA RELEASE 10 July 2008

MARKET UPDATE

Diversified minerals miner and explorer India Resources (ASX:IRL) advises that operations continue as normal. In recent weeks the IRL share price has fallen substantially. IRL is not aware of any change in outlook that might account for that fall.

The Surda operation has now, as at end June 2008, mined 107,085 tonnes of ore at 1.04% Cu and produced 3,622 tonnes of concentrate at 23.72% Cu for 872 tonnes of copper metal in concentrate. 850 people are employed on site which is close to the targeted employment roster. The operation is continuing to ramp up to the targeted production of 37,500 tonnes of ore per month and should reach this target towards the end of the current quarter. This increasing production and sales program from Surda means IRL remains in a sound financial position heading into the 2008/09 financial year.

IRL is in talks with Monarch Gold Mining Company (ASX:MON) regarding a $3.5 million outstanding loan balance. These talks are continuing and IRL has no current information to suggest that Monarch will not meet its repayment obligations.

IRL has recently commenced a diamond drilling program at its Aravalli Project in Rajasthan. The targets are historically recorded zinc – lead occurrences adjacent to the operating mines at Rajpura Dariba and Sindesar Khurd. The program is currently on its second hole and some zinc lead mineralisation has been intersected. Full results will be announced when they are available.

For more information, contact:

Eoin Rothery Managing Director Tel: +61 (0) 8 9324 7009 Mob: 0420 904 332

About India Resources

IRL is headquartered in Perth, Western Australia with the primary objective to maximize shareholder wealth by capital growth and dividend through the discovery of economic mineral deposits and the development of profitable mining operations. IRL’s head office is located at 989 Wellington St., West Perth, WA 6005.

IRL is applying Australian exploration expertise and cost effective mining techniques to project in India, to capitalise on country huge growth and market opportunities. The Company’s portfolio of assets comprises:

Hindustan Copper Limited - Surda Mine

The Company has the benefit of an alliance with Hindustan Copper Limited (HCL - a Government of India enterprise) with the initial focus on identifying existing operations and areas where large-scale mineralisation has been proven. HCL is the sole integrated producer of primary copper in India and is listed on the Mumbai, Delhi, Kolkata and Madras exchanges. IRL, in alliance with HCL, has re-opened the Surda Mine with an initial objective of delivering annual production of 4,500 tonnes of copper metal in concentrate.

– Hindustan Copper Limited Exploration MOU

IRL has the benefit of a Memorandum of Understanding (MOU) for general exploration on HCL’s various leases including tenure around HCL’s current operations at Malanjkhand and Khetri. IRL will undertake detailed evaluation of exploration areas to be determined in consultation with HCL.

Askot Project

IRL has taken a placement comprising about 17% of the share capital of Pebble Creek Mining Ltd. (TSX-V – PEB), a Canadian company listed on the Toronto Venture Exchange. Pebble Creek’s main asset is the Askot Project: a VMS deposit of copper, lead, zinc, gold and silver mineralisation in northern India. Pebble Creek is currently compiling a resource estimation.

Aravalli Project

The Company has acquired two Reconnaissance Permits (RPs) in Rajasthan (north western India). The Aravalli Proterozoic metamorphic belt is prospective for copper, lead, zinc as well as gold. IRL has recently completed a reconnaissance drilling program with positive results.

Diamonds

The Company’s diamond initiative focuses on the Bhandara Diamond Project which currently consists of five granted RPs in Orissa, as well as three RP applications in Chhattisgarh, located in the region of several kimberlite fields. In addition bulk sampling is planned at two diamondiferous kimberlites on IRL’s granted PLs of the Dharwar Project in Andhra Pradesh.

Coal, Iron Ore

As has happened in China, India’s rapidly growing economy is driving a surge in demand for power and steel. IRL is currently seeking suitable projects for rights to explore and develop coal or iron ore in India.

Visit: www.indiaresources.com.au

The geological and assay statements and commentary in the above update are based on information compiled by Eoin Rothery who is a member of the Australian Institute of Geoscientists. Mr Rothery has reviewed the information and has satisfied himself that the values quoted and the parameters used in the study are reasonable and accurately reflect the operations involved. Mr. Rothery is a full-time employee of India Resources Ltd and holds the position of Managing Director. Mr. Rothery has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration to quality 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. Rothery consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.