QX RESOURCES LIMITED — Capital/Financing Update 2012

Feb 15, 2012

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7 February 2012

Manager of Company Announcements Australian Securities Exchange Level 6, 20 Bridge Street Sydney NSW 2000

By E-Lodgement

Completion of Subscription Agreement

Black Mountain Resources Limited (ASX: BMZ) ( Company ) confirms that the conditions precedent to the Subscription Agreement dated 17 November 2011, as varied, have been satisfied and 7,000,000 shares in the capital of ABM Mining Corporation have been issued to the Company’s wholly owned subsidiary, Blue Mountain Mining Corporation.

For and on behalf of the Board

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Peter Landau Executive Director

Black Mountain Resources Limited ABN 55 147 106 974 Ground Floor, 1 Havelock Street, West Perth WA 6005 Telephone: +61 8 9488 5220 Facsimile: +61 8 9324 2400

info@blackmountainresources.com.au

www.blackmountainresources.com.au