REDCASTLE RESOURCES LIMITED — Capital/Financing Update 2011

Aug 2, 2011

GRP Corporation Limited

Level 2, Spectrum 100 Railway Road Subiaco WA 6008 PH: 08 9367 8133 FX: 08 9367 8812 EM: info@grpcorporation.com www.grpcorporation.com

2 August 2011

Capital Raising Prospectus Extension to Closing Date

The Directors of GRP Corporation Limited (ASX : GRP) advise that the Closing Date for the acceptance of applications for the capital raising under the Replacement Prospectus lodged on 22 July 2011 has been extended.

The Closing Date for the Offer is 5:00pm WST, Tuesday, 30 August 2011.

The Offer has been extended to ensure sufficient time to allow all investors to present their applications and funds.

The Company has prepared and is in the process of dispatching to all Shareholders a Priority Offer Letter to encourage all existing Shareholders to participate in the Offer of early take up of the first 10 million Shares and 5 million free attaching Options under the Offer.

Attached to this Announcement is a copy of the Priority Offer Letter.

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Mark Rowbottam Non-Executive Director

GRP Corporation Limited

Level 2, Spectrum 100 Railway Road Subiaco WA 6008 PH: 08 9367 8133 FX: 08 9367 8812 EM: info@grpcorporation.com www.grpcorporation.com

28 July 2011 GRP0C0R\C675

Dear Shareholder

PRIORITY OFFER TO PARTICIPATE IN GRP CORPORATION LIMITED CAPITAL RAISING

On 22[nd] July 2011, GRP Corporation Limited ( GRP or the Company ) lodged a Replacement Prospectus with ASIC for an offer of up to 35,000,000 Shares at an issue price of $0.20 each in order to raise up to $7,000,000, with the option to accept oversubscriptions of up to a further 15,000,000 Shares at an issue price of $0.20 each to raise up to an additional $3,000,000( Prospectus ) ( Offer ).

GRP has entered into a Binding Heads of Agreement to acquire Cady Energy Pty Ltd ( Cady Energy ). Upon completion of the Acquisition, the Company will acquire the exclusive right to purchase 100% of the Hanging Woman Project in the Powder River Basin, Wyoming, USA. Accordingly, following completion, the Company’s objective is to be a coal bed methane gas producer.

The Hanging Woman Project covers 13,280 acres over the Roberts Coal formation in the Powder River Basin and is a proven gas field with certified reserves of 50Bcf and an independent mean valuation of US$48 million. The Project is advanced in its development with 30 wells already drilled to dewater the coal seams and induce gas production. The dewatering process has progressed to the stage that gas flows have commenced in the majority of wells, and the Company is targeting commercial gas sales in 2012.

Following acquisition of the Project, the Company intends to drill further development wells and will conduct coring and gas content testing which is expected to convert gas resources to reserves. Gas-gathering and watering handling infrastructure will be established to support new wells and de-watering of existing and new wells will take place to advance the development of the Project. The Company will also seek to add to its current leasehold position through the acquisition of further suitable leaseholds adjacent to and or in close proximity to the Hanging Woman Project as well as general project opportunities in the oil and gas sector.

A company presentation has been enclosed for your review and full details in respect of the Company, its right to the Project and the Offer are set out in the Prospectus.

As part of the Offer, GRP’s Shareholders who are recorded on the GRP register as at the date of the Prospectus ( Record Date ) are entitled to participate in a priority offer to subscribe for up to 10,000,000 Shares ( Priority Offer ). The Company hereby notifies you that you were recorded as a Shareholder on the GRP share register as at the Record Date, and are therefore eligible to participate in the Priority Offer.

In order to participate in the Priority Offer, please download a copy of the Prospectus and Priority Offer Application Form from GRP’s website, www.grpcorporation.com

Applications may only be made on the form contained in the Prospectus. Completed Application Forms must be sent to the Share Registry of GRP in accordance with the instructions contained in the Prospectus. Applicants outside of Australia are required to obtain all necessary approvals to participate in the offer. Please refer to the Prospectus for further details.

GRP Corporation Limited

GRP0COR\ASX036

The Priority Offer will be limited to 10,000,000 shares ($2,000,000). GRP shareholders who wish to participate are advised to send in their applications early as GRP may close the offer early and applications received over the Priority Offer limit will fall into the General Offer pool.

The following indicative dates have been provided by GRP in relation to the Offer:

Lodgement of Prospectus with the ASIC	8 July 2011
Lodgement of Replacement Prospectus with the ASIC	22 July 2011
Priority Offer Record Date	30July 2011
Opening Date	5:00pm WST on 1 August 2011
Priority Offer Closing Date	5:00pm WST on 7 August 2011
Closing Date	9 August 2011
Despatch of Holding Statements	10 August 2011
Expected date for listing on ASX (ASX code CGY)	15 August 2011

The above dates are indicative only and may change without notice. GRP reserves the right to extend the Closing Date or Priority Offer Closing Date or close the Offer early without notice.

GRP is not providing any advice in respect to the Priority Offer and, as such, each GRP shareholder considering participation in the Priority Offer should, in addition to reading the GRP Prospectus in its entirety, consult with their accountant or professional adviser before taking any action.

Should you wish to discuss any information contained in this letter further, do not hesitate to contact the Company Secretary for GRP, Ms Eryn Kestel on (08) 9367 8133.

Yours faithfully

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Mark Rowbottam Director

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