PILBARA GOLD LIMITED — Capital/Financing Update 2012

Jul 31, 2012

==> picture [99 x 98] intentionally omitted <==

1 August 2012

NON-RENOUNCEABLE PRO-RATA RIGHTS ISSUE CLOSURE, ACCEPTANCES AND SHORTFALL

Mining Projects Group Limited [ASX:MPJ] (“the Company”) hereby advises that the recent Non-Renounceable Pro-Rata Rights Issue (“the Rights Issue”) made pursuant to the Prospectus dated 3 July 2012 closed on 27 July 2012.

The Company advises that it has received entitlement acceptances in respect of 14,936,858 ordinary fully paid ordinary shares and 14,936,858 free-attaching options. The total funds received from entitlement acceptances was $149,368.58.

Under the offer, eligible shareholders who applied for their full entitlement were entitled to apply for additional shares and free attaching options. All eligible shareholders who applied for additional shares above their entitlement will be allotted the full balance applied for.

The Rights Issue is underwritten by Peregrine Corporate Limited. In accordance with the terms of the Underwriting Agreement the Company has issued a shortfall notice for 90,352,318 ordinary fully paid shares at 1 cent ($0.01) each and 90,352,318 free attaching options, amounting to $903,523.18

For and On Behalf Of the Board;

==> picture [54 x 95] intentionally omitted <==

Bryan Frost Chairman

==> picture [578 x 45] intentionally omitted <==