PATERSON RESOURCES LTD — M&A Activity 2013

Nov 10, 2013

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9 November 2013

ASX Limited Company Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

Takeover bid by Elysium Resources (ASX Code: EYM) for Burraga Copper Limited Minimum Acceptance Condition fulfilled

We refer to the off-market takeover bid by Elysium Resources Limited ABN 45 115 593 005 (Elysium Resources) for all fully paid ordinary shares and options in Burraga Copper Limited ABN 42 149 974 354 (Burraga) (Offers).

On 8 November 2013 Elysium Resources had received acceptances for 90.06% of the Burraga shares. The condition to the Share Offer in clause 7(a) of Annexure A to the Bidder’s Statement has therefore been fulfilled, and the Share Offer is now free of that condition.

On 8 November 2013 Elysium Resources had received acceptances for 100% of the Burraga option. Condition 7(a) (Minimum Acceptance) to the Option Offer set out in Annexure B of the Bidder’s Statement has therefore been fulfilled, and the Option Offer is now free of that condition.

Please see attached a copy of a notice given to Burraga and lodged with ASIC in relation to the fulfilment of the condition.

Yours faithfully

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Mark Ohlsson Company Secretary

Elysium Resources Limited

ABN 45 115 593 005 Suite 705, 3 Spring Street, Sydney NSW 2000 PO Box H238, Australia Square NSW 1215 Phone: +61 2 9247 7744 Fax: +61 2 9247 7244 Email: info@elysiumresources.com.au Web: www.elysiumresources.com.au

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NOTICE OF CONDITION FULFILLED

PURSUANT TO SECTION 630(4) OF THE CORPORATIONS ACT 2001 (CTH)

BY ELYSIUM RESOURCES LIMITED (ACN 115 593 005)

To: Burraga Copper Limited (ACN 149 974 354) (BCU); and

Australian Securities & Investments Commission

Pursuant to section 630(4) of the Corporations Act 2001 (Cth), Elysium Resources Limited (ACN 115 593 005) ( EYM ) hereby gives notice that Condition 7(a) (Minimum Acceptance) to the Option Offer set out in Annexure B of the Bidder’s Statement dated 10 October 2013 has been fulfilled.

As far as EYM is aware, as at the date of this Notice, Condition 7(d) (Superior Proposal), Condition 7(e) (No Material Adverse Change) and Condition 7(f) (No Prescribed Occurrences) to the Share Offer have not been fulfilled, and Condition 7(b) (Share Offer unconditional) to the Option Offer in Annexure B has not been fulfilled.

Unless the context requires otherwise, defined terms in the Bidder’s Statement have the same meaning in this Notice.

DATED this 9[th] day of November 2013

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Mark Ohlsson Director Elysium Resources Limited

NOTICE OF CONDITION FULFILLED

PURSUANT TO SECTION 630(4) OF THE CORPORATIONS ACT 2001 (CTH)

BY ELYSIUM RESOURCES LIMITED (ACN 115 593 005)

To: Burraga Copper Limited (ACN 149 974 354) (BCU); and

Australian Securities & Investments Commission

Pursuant to section 630(4) of the Corporations Act 2001 (Cth), Elysium Resources Limited (ACN 115 593 005) ( EYM ) hereby gives notice that Condition 7(a) (Minimum Acceptance) to the Share Offer set out in Annexure A of the Bidder’s Statement dated 10 October 2013 has been fulfilled.

As far as EYM is aware, as at the date of this Notice, Condition 7(d) (Superior Proposal), Condition 7(e) (No Material Adverse Change) and Condition 7(f) (No Prescribed Occurrences) to the Share Offer have not been fulfilled, and Condition 7(b) (Share Offer unconditional) to the Option Offer in Annexure B has not been fulfilled.

Unless the context requires otherwise, defined terms in the Bidder’s Statement have the same meaning in this Notice.

DATED this 9[th] day of November 2013

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Mark Ohlsson Director Elysium Resources Limited