SANDFIRE RESOURCES LIMITED — Capital/Financing Update 2011

Nov 2, 2011

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ASX Release

ASX : GRM

3[rd] November 2011

Sandfire Resources NL farm into Kennedy Highway Project

Global Resources Corporation Limited (GRM) is pleased to announce that it has signed an agreement with Sandfire Resources NL (Sandfire) {ASX:SFR} whereby Sandfire will have the right to earn up to an 80% interest in the Kennedy Highway Project, in north Queensland.

The main terms of the Agreement are:

1. Sandfire must spend a minimum of A$400,000 (Minimum Expenditure), in the first year on the Project, no less than half of which must be drilling;

2. Sandfire may withdraw without liability at any time after it has met the Minimum Expenditure;

3. Sandfire must spend a minimum of A$3M (in total), in the first 3 years to earn 60% equity (Minimum Interest) in the Project, no less than half of which must be drilling; and

4. Sandfire has the option to spend a further A$5M, over an additional 2 years, to earn 80% equity (Further Interest) in the Project.

5. After the Minimum Interest has been earned, and anytime before the Further Interest has been earned, GRM and Sandfire will form an unincorporated Joint Venture (JV) to manage the Project. Sandfire will be the manager of the JV and the partners will fund as per their respective ownership percentage, or be diluted.

The Kennedy Highway Project is a single tenement, EPM15948, located approximately 230km south of Cloncurry in north Queensland (See Figure 1). The drilling will target a potential Broken Hill type geophysical target under cover approximately 100 kilometres south of the Cannington mine.

“We are very pleased that the potential value of the Kennedy Highway Project has been recognised. We are particularly encouraged that such a successful explorer and mine developer as Sandfire Resources, has seen fit to farm-in to this exploration Project. We look forward to working with them as they work towards drilling in the New Year,” said Mr Simon Finnis, Managing Director of GRM.

“This farm-out is part of GRM’s strategy of concentrating our exploration effort on our very prospective exploration properties in Turkey, where we expect to start drilling on our first property, Yunt Dag, this month,” added Mr Finnis.

For further information please contact:

Simon Finnis T: +61 (0) 7 3844 3999 Managing Director, Global Resources Corporation Ltd E: simon.finnis@grcl.com.au

David Sasson

T: +61 (0)411 468 966

Northfield Communications – FIRSt

Or visit our website

www.grcl.com.au

13 Manning Street PO BOX 3025 T: 61 (0) 7 3844 3999 South Brisbane South Brisbane BC F: 61 (0) 7 3844 4088 QLD 4101 AUSTRALIA QLD 4101 AUSTRALIA E: simon.finnis@grcl.com.au www.grcl.com.au

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Figure 1 – Kennedy Highway Project Location Map.

13 Manning Street PO BOX 3025 T: 61 (0) 7 3844 3999 South Brisbane South Brisbane BC F: 61 (0) 7 3844 4088 QLD 4101 AUSTRALIA QLD 4101 AUSTRALIA

E: simon.finnis@grcl.com.au www.grcl.com.au

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