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RAGNAR METALS LIMITED Capital/Financing Update 2012

Nov 28, 2012

65660_rns_2012-11-28_ab03ca2d-5017-4d4d-afaf-7918f9884ea7.pdf

Capital/Financing Update

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MARKET RELEASE

29 November 2012

Drake Resources Limited

TRADING HALT

The securities of Drake Resources Limited (the "Company") will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Monday, 3 December 2012 or when the announcement is released to the market.

Security Code: DRK

Jill Hewitt Senior Adviser, Listings (Perth) Drake Resources Limited ACN 108 560 069 ABN 12 108 560 069 Registered Office Level 4, 66 Kings Park Road, West Perth, WA PO Box 52, West Perth 6872 Western Australia Phone 08 6141 3500 Fax 08 6141 3599

29 November 2012

ASX Limited Level 8, Exchange Plaza 2 The Esplanade PERTH WA 6000

Via Email: [email protected]

REQUEST FOR TRADING HALT

Drake Resources Limited (Company) hereby makes application for a trading halt of its securities, effective immediately, and provides the following information in relation to Listing Rule 17.1:

  • The Company makes the request pending the release of an announcement in relation to a capital $\bullet$ raising;
  • $\bullet$ The trading halt is to last until the earlier of the Company releasing an announcement or the commencement of trade on Monday, 3 December 2012; and
  • $\bullet$ The Company is not aware of any reason why the trading halt should not be granted.

Yours faithfully

Jay Stephenson COMPANY SECRETARY