Sheffield Resources Ltd. — Capital/Financing Update 2015

Jul 22, 2015

==> picture [102 x 66] intentionally omitted <==

ASX and Media Release

23 July, 2015

NEXT GENERATION OF MINERAL SANDS DISCOVERIES AT ENEABBA

KEY POINTS

• Four new near-surface, dunal HMS discoveries from initial aircore drilling program

• High value mineral assemblage: up to 36% combined rutile and zircon

• Discoveries occur east of the Gingin Scarp, away from the historic focus of mineral sands mining and exploration in the Eneabba district

• Sheffield’s existing resources at Eneabba plus new discoveries may support a standalone operation

Sheffield Resources Limited (“Sheffield” “the Company”) (ASX:SFX) today announced the discovery of four new mineral sands prospects from first-pass aircore drilling at its 100% owned Eneabba Mineral Sands Project in Western Australia’s Mid-West region (Figure 2).

The dunal deposits, named Robbs Cross, Thomson, Ding Road and Mt Adams, occur to the east of the Gingin Scarp, a topographic feature representing a former coastal cliff. Historically, most mineral sands mining and exploration at Eneabba has targeted strandlines located to the west of this feature (Figure 2).

Significant results include:

Robbs Cross

• 21m @ 1.96% HM from 3m (RCAC001), including 9m @ 2.76% HM from 12m

• 19.5m @ 1.98% HM from 3m (RCAC005), including 9m @ 2.58% HM from 10.5m

• mineral assemblage: 12.5% rutile, 14.7% zircon, 4.1% leucoxene, 47% ilmenite

Ding Road

• 10.5m @ 2.35% HM from 0m (DCAC153), including 6m @ 3.02% HM from 3m

• 9m @ 2.70% HM from 0m (DCAC154),including 7.5m @ 2.97% HM from 0m

• mineral assemblage: 15.4% rutile, 20.3% zircon, 3.8% leucoxene, 44% ilmenite

Thomsons

• 22.5m @ 2.16% HM from 0m (TMAC016), including 4.5m @ 4.37% HM from 18m

• 16.5m @ 1.83% HM from 0m (TMAC005), including 7.5m @ 2.22% HM from 6m

• mineral assemblage: 12.3% rutile, 15.1% zircon, 3.6% leucoxene, 50% ilmenite

Mt Adams

• 10.5m @ 2.11% HM from 0m (MAAC017), including 7.5m @ 2.48% HM from 1.5m

• mineral assemblage: 10.4% rutile, 13% zircon, 2.1% leucoxene, 57% ilmenite

(refer to Tables 2 and 3, Figures 2, 3 and 4, and Appendix 2 for full details)

Sheffield’s Managing Director Bruce McQuitty said the four discoveries represented an exciting new frontier for exploration in the world class Eneabba mining district.

“The dunal style of heavy mineral deposit we are targeting has many favourable characteristics for mining, including a high value mineral assemblage and favourable deposit geometry with little or no overburden,” he said.

“We are confident the region will yield further discoveries, enabling us to build on our existing high grade Eneabba Resource base of 4.5Mt of contained valuable heavy mineral.”

Sheffield Resources Ltd ACN 125 811 083 L1, 57 Havelock Street West Perth WA 6005 T: +61(0) 8 6424 8440 F: +61(0) 8 9321 1710

• 2 -

The current high grade resource at Sheffield’s Eneabba Project comprises 172Mt at 3.0% HM (Table 1 and Appendix 1) in three dunal deposits (Yandanooka, Durack and Drummond Crossing), one strandline deposit (West Mine North) and one combined dunal and strandline deposit (Ellengail). Of these, the Drummond Crossing resource, with its combined zircon and rutile assemblage of 24%, is most similar in setting and style to the dunal prospects outlined by recent drilling. The four recent discoveries have combined zircon and rutile assemblages of between 23% and 36%.

Table 1: Eneabba Resource Summary (see Appendix 1 for full details)

Table 1: Eneabba Resource Summary (see Appendix 1 for full	details)
Deposit Resource Category Cutoff HM% Material Million Tonnes HM %	Mineral Assemblage
	Zircon % Rutile % Leucoxene % Ilmenite %
Yandanooka Meas+Ind+Inf 1.4 60 3.1	12 3.4 3.6 70
West Mine North Meas+Ind 1.5 18 5.1	6.7 9.7 6.3 59
Durack Ind+Inf 1.5 24 3.0	14 2.8 4.5 70
Drummond Crossing Ind+Inf 1.1 52 2.1	14 10 3.5 53
Ellengail Inf 1.5 18 3.9	8.9 8.7 1.9 64
Total All var. 172 3.0	12 6.5 3.8 63

The dunal deposits of the Eneabba region are typically rich in zircon and rutile and the ilmenite is generally high grade (>60% TiO2) and suitable as feedstock for the chloride pigment process or as synthetic rutile feedstock. The deposits are broad, up to 20m thick, have little or no overburden and sit above the water table – factors which contribute to simple, low-cost mining.

This type of deposit (dunal) has received little exploration attention in the region, despite the most recent mining operations at Eneabba being based on them. An example is Iluka Resources’ Twin Hills deposit, which was mined during 2012 and early 2013. Prior to mining, Twin Hills had a probable reserve of 19.9Mt @ 3.2% HM, and assemblage of 11% zircon, 10% rutile and 55% ilmenite[1] .

==> picture [476 x 139] intentionally omitted <==

Figure 1: Mining at Iluka’s Twin Hills Deposit, May 2012. Sheffield is targeting similar deposits to the east of the Gingin Scarp.

Another example of a dunal deposit currently in development is Matilda Zircon’s Keysbrook deposit located in the South Perth Basin, which has a proven and probable reserve of 26.0Mt @ 2.6% HM, and assemblage of 14.6% zircon, 27.8% leucoxene 70 and 46.6% leucoxene 88[2] l. These deposits are an attractive development proposition due to their high value mineral assemblage and low mining costs.

1 Source: Iluka Resources (ASK:ILU) Australian Securities Exchange Notice “ORE RESERVE INCREASES” dated 16 November 2011.

2 Source: Matilda Zircon (ASK:MZI) Australian Securities Exchange Notice “ROAD SHOW PRESENTATION – MAY 2015” dated 27 May 2015.

==> picture [20 x 8] intentionally omitted <==

----- Start of picture text -----

- 3 -
----- End of picture text -----

==> picture [453 x 604] intentionally omitted <==

Figure 2: Eneabba Project plan on elevation image

Sheffield recently expanded its total tenement holding in the Eneabba region to 862km[2] with applications for 3 new exploration licences. Sheffield now has full coverage over 70km of the prospective corridor to the east of the Gingin Scarp (Figure 3).

• 4 -

Prospect Details

The results reported above relate to a low cost program of 92 shallow aircore drill holes totalling 2,664m undertaken in April 2015, utilising existing tracks for access on vacant crown land. The drilling targeted anomalous heavy mineral identified from surface sampling (see ASX release dated 30 October, 2013).

An additional 6 aircore holes totalling 219m were drilled at the Mindarra Springs prospect primarily to collect bulk sample for metallurgical test work.

A full listing of drill hole details, significant intervals and mineral assemblage data is included as Tables 2 and 3.

Robbs Cross

Robbs Cross is about 5km to the northeast of Sheffield’s Drummond Crossing resource (52.2Mt @ 2.1% HM Indicated and Inferred – refer to Appendix 1). Surface sampling identified a 2.5km x 1km anomaly of between 0.7% and 2.0% HM on the eastern flank of a low hill. The anomaly was drilled with 18 aircore holes spaced 200m apart on 2 lines. Of these, 15 holes returned mineralisation >0.9% HM over an area 1.5km x 1.4km, between 3m and 21m thickness (average 13m), with 0m to 9m of barren cover (average 4m). Within this lower grade mineralisation is a coherent higher grade zone (>2% HM) up to 9m thick over an area of 1km x 600m. The mineral assemblage is 12.5% rutile, 14.7% zircon, 4.1% leucoxene, 47% ilmenite.

Mineralisation remains open to the east, west and south. Additional drilling on optimally oriented transects is required to advance Robbs Cross, which has the potential to yield a significant deposit.

==> picture [480 x 253] intentionally omitted <==

Figure 3: Cross section A-A’ looking north-northeast through Robbs Cross.

• 5 -

==> picture [480 x 623] intentionally omitted <==

Figure 4: Eneabba Project dunal HMS prospects drill plans

• 6 -

Thomsons

Thomsons is located 12km east of Sheffield’s West Mine North deposit and 2.6km south of Iluka Resources’ Ocean Hill deposit. Surface sampling identified a 3.7km long by 0.25km to 1.0km wide anomaly between 0.7% and 4.8% HM. The anomaly was investigated with 25 holes drilled at about 200m spacing, most along an existing north-south access track. From this drilling two areas of mineralisation were identified, one comprising patchy mineralisation over a 2.5km x 1.5km area with upper (near-surface) and deeper mineralised zones. Mineralisation in this area is mostly low grade with the best interval 22.5m @ 2.16% HM from surface in hole TMAC016. The other is defined by a single hole at the end of the drilled line: 24m @ 1.64% HM from surface in hole TMAC013. The mineral assemblage averages 12.3% rutile, 15.1% zircon, 3.6% leucoxene, 50% ilmenite.

Additional drilling is required to better define mineralisation at Thomsons, however even at this early stage with only very limited drilling, there is clear potential to extend the mineralisation.

Ding Road

Ding Road is located 1.8km east of Sheffield’s Drummond Crossing resource. Previous scout drilling and surface sampling by Sheffield returned values up to 2.9% HM, confirmed by significant mineralisation in a single line of 200m-spaced aircore holes drilled in 2012 (see September 2012 Quarterly report dated 18 October, 2012). An additional 24 aircore holes were drilled at Ding Road, both infilling, and testing for extensions to existing mineralisation to the north and west.

Results indicate the mineralisation extends a further 600m to the north, is closed off to the west, but remains open to the east. With the additional drilling, the high grade component (>2% HM) at Ding Road now extends for 1km, is up to 7.5m thick, and has between 0m and 7.5m of cover. Significantly, Ding Road has an excellent mineral assemblage with over 35% combined rutile and zircon: 15.4% rutile, 20.3% zircon, 3.8% leucoxene, 44% ilmenite.

Additional drilling is required to test the extent of this mineralisation to the east of Ding Road.

Mt Adams

Mt Adams is immediately east of Tronox’s Dongara heavy mineral sands project. Surface sampling by Sheffield identified two zones of coherent mineralisation between 0.7% and 2.05% HM. The larger northern zone has the approximate dimensions of 1.6km by 1.2km and the smaller southern zone has the dimensions of 0.8km by 0.6km.

Both anomalies were investigated with a total of 22 aircore holes drilled at 240m spacing along existing tracks. Of these, 8 holes returned significant intervals with the best being 10.5m @ 2.11% HM from 0m in hole MAAC017, including 7.5m @ 2.48% HM from 1.5m. At 0.9% HM cut-off the mineralisation extends over an area of 1.7km x 850m, is between 3m and 10.5m in thickness (average 6m) and has between 0m and 7.5m (average 2.7m) of barren cover. The mineral assemblage is 10.4% rutile, 13% zircon, 2.1% leucoxene, 57% ilmenite.

Mineralisation at Mt Adams is open in all directions. Additional drilling is required to fully test the extent of mineralisation, with the current results suggesting excellent potential to define a nearsurface HMS deposit.

Mindarra Springs

Mindarra Springs is located 20km to the south of Sheffield McCalls HMS resource. BHP explored Mindarra Springs for mineral sands in the mid-1990’s and drilled approximately 150 aircore drill holes through the area. Sheffield has previously announced an Exploration Target[3] based on this drilling of approximately 1.7-2.2Bt at 1.4%-1.6% HM (refer to Sheffield’s September 2014 Quarterly Report, dated 28 October 2014 for details).

3 Sheffield Resources has not yet reported any Mineral Resources for Mindarra Springs and any discussion in relation to the potential quantity of the targets is conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Figures have been rounded to reflect the implied level of accuracy.

• 7 -

A single line of six holes were drilled at 500m spacing along an existing road for the primary purpose of collecting sample for ilmenite characterisation test work. The mineralised intervals and assemblage data returned from the drilling are within the ranges predicted, confirming the quality of the historic BHP drilling. For example the best interval of 16.5m @ 2.17% HM from 10.5m in hole MSAC005, including 9m @ 2.78% HM from 16.5m. The mineral assemblage comprises 3.9% rutile, 3.8% zircon, 2.3% leucoxene and 81% ilmenite (total 91% VHM).

Further Work

The results reported in this announcement are from initial, first-pass drilling which utilised existing tracks for access and placement of drill holes. This work resulted in a 100% success rate with significant mineralisation identified, and additional drilling required at each prospect.

Sheffield has identified a number of additional targets similar in setting to those tested by this drilling program, and will prioritise additional work in the region to investigate these opportunities.

ENDS

For further information please contact:

Bruce McQuitty Media: Luke Forrestal Managing Director Cannings Purple Tel: 08 6424 8440 Tel: 08 6314 6300 bmcquitty@sheffieldresources.com.au lforrestal@canningspurple.com.au

Website: www.sheffieldresources.com.au

• 8 -

Table 2: Eneabba dunal HMS exploration aircore drill results, 23 July, 2015

Ding Road Prospect (Drummond Crossing)

Hole ID	Depth From (m)	Depth To (m)	Interval Width (m)*	HM wt%	Slimes wt%	Osize wt%	Drill Hole Collar Information	Drill Hole Collar Information	Drill Hole Collar Information
							Easting	Northing	RL	Depth (m)
DCAC148	no significant interval						334,851	6,721,309	106	24.0
DCAC149	no significant interval						334,613	6,721,360	104	21.0
DCAC150	no significant interval						334,609	6,721,201	107	19.5
DCAC151	3.0	12.0	9.0	1.72	10.1	7.7	334,855	6,721,099	110	21.0
including	7.5	10.5	3.0	2.38	9.9	8.0
DCAC152	no significant interval						334,610	6,720,990	110	21.0
DCAC153	0.0	10.5	10.5	2.35	12.5	10.4	334,852	6,720,999	111	24.0
including	3.0	9.0	6.0	3.02	11.3	9.7
DCAC154	0.0	9.0	9.0	2.70	7.8	15.0	334,857	6,720,902	114	21.0
including	0.0	7.5	7.5	2.97	7.5	12.3
DCAC155	No significant interval						334,614	6,720,904	111	21.0
DCAC156	No significant interval						334,615	6,720,801	114	21.0
DCAC157	0.0	9.0	9.0	2.45	11.1	13.3	334,851	6,720,794	119	21.0
including	0.0	7.5	7.5	2.67	10.1	11.7
DCAC158							334,619	6,720,706	117	21.0
DCAC159	0.0	7.5	7.5	2.01	14.1	20.1	334,851	6,720,697	124	21.0
including	0.0	6.0	6.0	2.18	12.5	20.4
DCAC160	no significant interval						334,611	6,720,603	121	21.0
DCAC161	no significant interval						334,609	6,720,508	125	21.0
DCAC162	no significant interval						334,600	6,720,402	130	21.0
DCAC163	no significant interval						334,612	6,720,310	134	25.5
DCAC164	no significant interval						334,609	6,720,206	138	21.0
DCAC165	no significant interval						334,612	6,720,109	142	21.0
DCAC166	no significant interval						334,607	6,719,995	146	21.0
DCAC167	no significant interval						334,611	6,719,911	149	21.0
DCAC168	no significant interval						334,850	6,719,920	149	27.0

• 9 -

Hole ID	Depth From (m)	Depth To (m)	Interval Width (m)*	HM wt%	Slimes wt%	Osize wt%	Drill Hole Collar Information	Drill Hole Collar Information	Drill Hole Collar Information
							Easting	Northing	RL	Depth (m)
DCAC169	0.0	7.5	7.5	1.82	13.5	11.8	334,849	6,720,099	144	24.0
DCAC170	0.0	12.0	12.0	1.79	8.1	8.7	334,842	6,720,297	140	21.0
including	7.5	12.0	4.5	2.31	11.0	12.8
DCAC171	0.0	9.0	9.0	2.49	9.4	16.1	334,850	6,720,491	133	21.0
including	1.5	9.0	7.5	2.63	9.7	17.8
DCAC172	25.5	30.0	4.5	1.11	8.9	0.8	329,635	6,720,390	77	33.0
DCAC173	no significant interval						329,660	6,719,979	75	21.0
DCAC174	no significant interval						329,651	6,719,495	74	21.0

Thomsons Prospect

Hole ID	Depth From (m)	Depth To (m)	Interval Width (m)*	HM wt%	Slimes wt%	Osize wt%	Drill Hole Collar Information	Drill Hole Collar Information	Drill Hole Collar Information
							Easting	Northing	RL	Depth (m)
TMAC001	4.5	15.0	10.5	0.98	41.7	1.6	340,062	6,698,311	247	30.0
and	22.5	30.0	7.5	1.23	46.8	0.1
TMAC002	12.0	27.0	15.0	1.07	39.0	1.9	340,083	6,698,069	236	27.0
TMAC003			no significant interval				339,570	6,696,661	220	21.0
TMAC004	15.0	22.5	7.5	2.04	10.2	7.8	339,381	6,696,654	211	27.0
including	18.0	22.5	4.5	2.37	9.3	9.5
TMAC005	0.0	16.5	16.5	1.83	8.3	5.9	339,664	6,696,350	220	30.0
including	6.0	13.5	7.5	2.22	8.3	5.3
TMAC006	0.0	12.0	12.0	1.25	15.9	4.9	339,670	6,696,157	212	21.0
TMAC007							339,677	6,695,950	202	21.0
TMAC008	10.5	13.5	3.0	1.43	24.3	10.6	339,681	6,695,349	166	21.0
TMAC009							339,673	6,695,547	178	18.0
TMAC010	13.5	18.0	4.5	0.95	22.9	3.3	339,666	6,695,755	191	30.0
TMAC011			no significant interval				339,527	6,695,913	209	21.0
TMAC012			no significant interval				339,121	6,695,875	205	21.0
TMAC013	0.0	24.0	24.0	1.64	12.0	11.3	338,734	6,695,533	183	24.0

• 10 -

Hole ID	Depth From (m)	Depth To (m)	Interval Width (m)*	HM wt%	Slimes wt%	Osize wt%	Drill Hole Collar Information	Drill Hole Collar Information	Drill Hole Collar Information
							Easting	Northing	RL	Depth (m)
including	13.5	18.0	4.5	2.43	9.2	9.6
TMAC014			no significant interval				339,848	6,695,965	198	21.0
TMAC015	0.0	6.0	6.0	1.19	10.4	2.9	340,239	6,696,022	193	24.0
TMAC016	0.0	22.5	22.5	2.16	17.2	7.3	340,529	6,696,065	190	36.0
including	7.5	10.5	3.0	2.22	18.8	10.3
including	18.0	22.5	4.5	4.37	10.3	12.4
TMAC017	0.0	9.0	9.0	2.06	16.9	4.5	339,779	6,696,627	227	21.0
including	4.5	9.0	4.5	2.53	14.9	6.5
TMAC018			no significant interval				340,013	6,696,666	219	21.0
TMAC019			no significant interval				340,107	6,696,804	212	21.0
TMAC020	3.0	6.0	3.0	1.04	25.8	6.9	340,100	6,697,007	216	24.0
TMAC021	0.0	4.5	4.5	1.33	23.1	5.7	340,090	6,697,205	215	30.0
and	15.0	24.0	9.0	1.22	34.0	0.1
TMAC022			no significant interval				340,475	6,697,412	207	21.0
TMAC023	0.0	9.0	9.0	1.34	24.3	5.8	340,077	6,697,412	221	33.0
and	12.0	18.0	6.0	1.18	26.6	0.0
and	21.0	24.0	3.0	1.52	22.1	0.3
TMAC024	0.0	9.0	9.0	1.54	21.0	6.5	340,067	6,697,608	232	39.0
and	18.0	25.5	7.5	1.01	22.8	0.1
and	28.5	31.5	3.0	1.22	21.0	0.0
TMAC025	10.5	19.5	9.0	1.10	23.2	0.1	340,060	6,697,811	228	21.0

• 11 -

Robbs Cross Prospect

	Depth	Depth To	Interval	HM	Slimes	Osize	Drill Hole Collar Information	Drill Hole Collar Information	Drill Hole Collar Information
Hole ID	From (m)	(m)	Width (m)*	wt%	wt%	wt%	Easting	Northing	RL	Depth(m)
RCAC001	3.0	24.0	21.0	1.96	6.0	2.7	335,862	6,726,250	147	30.0
including	12.0	21.0	9.0	2.76	3.0	3.5
and	27.0	30.0	3.0	0.92	1.2	0.4
RCAC002	1.5	22.5	21.0	1.70	5.0	3.8	335,817	6,726,444	149	27.0
including	12.0	18.0	6.0	2.89	3.7	8.1
RCAC003	3.0	21.0	18.0	1.75	4.6	5.5	335,772	6,726,641	154	24.0
including	12.0	18.0	6.0	2.87	3.3	9.4
RCAC004	6.0	27.0	21.0	1.84	3.7	4.8	335,727	6,726,838	159	27.0
including	12.0	19.5	7.5	2.98	3.9	9.3
RCAC005	3.0	22.5	19.5	1.98	4.0	8.9	335,684	6,727,025	160	27.0
including	10.5	19.5	9.0	2.58	2.2	10.5
RCAC006	9.0	24.0	15.0	1.29	3.5	4.3	335,643	6,727,205	159	27.0
RCAC007	6.0	9.0	3.0	1.02	11.1	5.8	335,591	6,727,407	158	21.0
RCAC008			no significant interval				335,550	6,727,597	158	21.0
RCAC009			no significant interval				335,505	6,727,794	153	18.0
RCAC010	4.5	19.5	15.0	1.79	5.0	4.8	335,886	6,727,018	158	24.0
including	10.5	13.5	3.0	2.47	4.5	2.8
RCAC011	0.0	12.0	12.0	1.54	8.6	6.9	336,314	6,726,848	146	21.0
RCAC012	3.0	9.0	6.0	1.19	10.1	11.8	336,267	6,727,022	150	36.0
RCAC013			no significant interval				336,216	6,727,224	151	21.0
RCAC014	6.0	9.0	3.0	1.09	8.1	3.5	336,649	6,727,014	126	21.0
RCAC015	0.0	7.5	7.5	1.05	11.9	5.7	336,493	6,727,028	136	18.0
RCAC016	7.5	13.5	6.0	1.12	9.2	7.0	336,116	6,727,011	156	21.0
RCAC017	3.0	19.5	16.5	1.80	5.1	2.2	335,540	6,726,762	164	60.0
including	12.0	16.5	4.5	2.88	4.0	3.7
and	46.5	49.5	3.0	1.62	14.9	20.7
RCAC018	0.0	10.5	10.5	1.36	11.3	9.8	335,336	6,726,795	172	21.0

• 12 -

Mt Adams Prospect

Hl ID	Depth	Depth To	Interval	HM	Slimes	Osize	Drill Hole Collar Information	Drill Hole Collar Information	Drill Hole Collar Information
oe	From (m)	(m)	Width (m)*	wt%	wt%	wt%	Easting	Northing	RL	Depth(m)
MAAC001	no significant interval						322,575	6,746,911	92	51.0
MAAC002	no significant interval						322,341	6,746,907	90	48.0
MAAC003	no significant interval						322,110	6,746,910	88	48.0
MAAC004	4.5	7.5	3.0	1.31	22.3	17.3	321,912	6,746,913	85	42.0
MAAC005	no significant interval						321,934	6,748,138	92	45.0
MAAC006	no significant interval						321,938	6,748,289	94	45.0
MAAC007	no significant interval						321,941	6,748,525	95	45.0
MAAC008	no significant interval						321,951	6,748,762	95	45.0
MAAC009	1.5	9.0	7.5	1.99	20.0	6.4	321,952	6,749,001	96	45.0
including	6.0	9.0	3.0	2.98	21.1	1.3
MAAC010	0.0	7.5	7.5	1.53	7.5	4.0	321,955	6,749,235	98	39.0
MAAC011	no significant interval						321,957	6,749,478	100	45.0
MAAC012	1.5	6.0	4.5	1.49	22.5	6.9	321,966	6,749,719	99	39.0
MAAC013	no significant interval						322,509	6,749,977	110	48.0
MAAC014	no significant interval						322,275	6,749,975	108	45.0
MAAC015	no significant interval						322,030	6,749,971	102	42.0
MAAC016	4.5	9.0	4.5	1.10	3.9	8.1	321,791	6,749,910	99	45.0
MAAC017	0.0	10.5	10.5	2.11	6.8	5.5	321,560	6,749,907	96	42.0
including	1.5	9.0	7.5	2.48	7.5	5.8
MAAC018	3.0	9.0	6.0	1.01	14.0	5.2	321,316	6,749,911	93	45.0
MAAC019	no significant interval						321,075	6,749,908	87	42.0
MAAC020	1.5	7.5	6.0	1.06	16.4	10.5	320,833	6,749,903	82	51.0
MAAC021	7.5	12.0	4.5	1.14	4.5	9.0	320,593	6,749,904	80	39.0
MAAC022	no significant interval						320,358	6,749,904	75	42.0

• 13 -

Mindarra Springs Prospect

Hole ID	Depth From (m)	Depth To (m)	Interval Width (m)*	HM wt%	Slimes wt%	Osize wt%	Drill Hole Collar Information	Drill Hole Collar Information	Drill Hole Collar Information
							Easting	Northing	RL	Depth(m)
MSAC001	21.0	24.0	3.0	0.97	13.4	7.7	397,459	6,550,815	190	30.0
MSAC002	27.0	39.0	12.0	1.68	24.1	1.3	397,013	6,550,865	193	39.0
MSAC003	9.0	18.0	9.0	1.83	27.8	0.4	395,006	6,550,764	211	33.0
MSAC004	13.5	33.0	19.5	1.53	23.3	4.1	395,475	6,550,725	214	36.0
including	27.0	31.5	4.5	2.39	20.8	0.8
MSAC005	10.5	27.0	16.5	2.17	26.4	0.9	396,026	6,550,966	205	39.0
including	16.5	25.5	9.0	2.78	27.1	0.6
MSAC006	13.5	30.0	16.5	1.81	23.7	1.2	396,486	6,550,924	198	42.0
including	24.0	28.5	4.5	2.29	23.8	0.6

*All intervals are calculated using 0.9% HM lower cut with less than 3m @ 35% slimes, 3m minimum width, maximum 1.5m internal waste; “ including” intervals >2% HM, 3m minimum width, maximum 1.5m internal waste. HM, Slimes and Oversize (“Osize”) determined by Heavy Liquid Separation (HLS) using TBE (sg. 2.96g/cc); screen sizes: slimes 45µm and oversize (“Osize”) +1mm. Drill hole collar locations were determined by handheld GPS with expected accuracy of +/- 15m horizontal. RL determined by projection to a regional DTM model created from Landgate spot height data. Easting and Northing coordinate system is MGA Zone 50 (GDA94), RL is AHD. All holes were drilled vertically.

• 14 -

Table 3: Eneabba dunal HMS exploration aircore mineral assemblage results, 23 July, 2015 (determined by QEMSCAN)

Prospect	Composite	Hole ID	Depth From (m)	Depth To (m)		Composite			Mineral Assemblage	Mineral Assemblage
					HM wt%	SL wt%	OS wt%	Rutile %	Zircon %	Leucoxene %	Ilmenite %
Robbs Cross	SARCCP001	RCAC001	3	30	2.12	4.5	2.8	11.2	15.2	3.7	49
	SARCCP002	RCAC011	0	12	1.43	9.0	8.7	14.3	13.9	4.8	44
		RCAC012	3	9
		RCAC016	7.5	13.5
Thomson	SATMCP001	TMAC005	0	16.5	1.95	8.5	6.0	14.1	17.1	4.1	43
	SATMCP002	TMAC024	0	9	1.32	21.9	3.3	9.7	12.1	3.0	60
			18	31.5
Mt Adams	SAMACP001	MAAC009	1.5	9	2.04	15.0	4.5	10.4	13.0	2.1	57
		MAAC010	0	7.5
Ding Road	SADRCP001	DCAC153	0	10.5	2.80	9.8	12.3	15.4	20.3	3.8	44
		DCAC154	0	9
Mindarra Springs	SAMSCP001	MSAC004	19.5	33	2.23	24.5	0.8	3.9	3.8	2.3	81
		MSAC005	10.5	27

• 15 -

COMPLIANCE STATEMENTS

EXPLORATION RESULTS

The information in this report that relates to Exploration Results is based on information compiled by Mr David Boyd, a Competent Person who is a Member of Australian Institute of Geoscientists (AIG). Mr Boyd is a full-time employee of Sheffield Resources Ltd and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Boyd consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

PREVIOUSLY REPORTED INFORMATION

This report includes information that relates to Exploration Results and Exploration Targets which were prepared and first disclosed under the JORC Code 2012. The information was extracted from the Company’s previous ASX announcements as follows:

• “QUARTERLY REPORT FOR PERIOD ENDING 30 SEPTEMBER 2014”, 28 October 2014

This report also includes information that relates to Exploration Targets, Exploration Results and Mineral Resources which were prepared and first disclosed under the JORC Code 2004. The information has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. The information was extracted from the Company’s previous ASX announcements as follows:

• “1MT CONTAINED HM INFERRED RESOURCE AT ELLENGAIL” , 25 October 2011.

• “WEST MINE NORTH MINERAL RESOURCE ESTIMATE EXCEEDS EXPECTATIONS” , 7 November 2011.

• “4.4 BILLION TONNE MAIDEN RESOURCE AT MCCALLS HMS PROJECT” , 20 February 2012.

• “ENEABBA PROJECT RESOURCE INVENTORY EXCEEDS 5MT HEAVY MINERAL” , 28 August 2012.

• “QUARTERLY REPORT FOR PERIOD ENDING 30 SEPTEMBER 2012”, 18 October 2012

• “YANDANOOKA RESOURCE UPGRADE AND METALLURGICAL RESULTS” , 30 January 2013.

• “1Mt HEAVY MINERAL RESOURCE ADDED TO ENEABBA PROJECT” , 30 October 2013.

These announcements are available on Sheffield Resources Ltd’s web site www.sheffieldresources.com.au.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of reporting of Exploration Results, estimates of Mineral Resources or results of Scoping Studies, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which any Competent Person’s findings are presented have not been materially modified from the original market announcement.

FORWARD LOOKING STATEMENTS

Some statements in this report regarding estimates or future events are forward-looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forward-looking statements include, but are not limited to, statements concerning the Company’s exploration programme, outlook, target sizes and mineralised material estimates. They include statements preceded by words such as “anticipated”, “expected”, “target”, “scheduled”, “intends”, “potential”, “prospective” and similar expressions.

• 16 -

ABOUT SHEFFIELD RESOURCES

Sheffield Resources Limited ( Sheffield ) is a rapidly emerging heavy mineral sands (HMS) company.

ASX Code:	SFX	Market Cap @ 55cps	$73.9m
Issued shares:	134.4m	Cash: $5.2m (approx)

Sheffield’s projects are all situated within the state of Western Australia and are 100% owned by the Company.

HEAVY MINERAL SANDS

The Dampier project, located near Derby in WA’s northwest, contains the large, high grade zircon-rich Thunderbird HMS deposit. Sheffield’s pre-feasibility study shows Thunderbird can generate strong cash margins from globally significant levels of production over a 32 year mine life.

The Eneabba project comprises multiple HMS deposits and is located near Eneabba approximately 140km south of the port of Geraldton in WA’s Mid-West region.

Sheffield is also evaluating the large McCalls chloride ilmenite project, located 110km to the north of Perth.

NICKEL-COPPER

Sheffield has over 2,000km[2] of tenure in the Fraser Range region, including the Red Bull project which is within 20km of Sirius Resources NL’s (ASX:SIR) Nova Ni-Cu deposit.

• 17 -

Appendix 1. Eneabba Project Mineral Resource Inventory Tables

Eneabba Project Mineral Resource[1] inventory (at high grade cut off)

Deposit	Resource	Cutoff	Material		Bulk	HM	Slimes	Osize	In-situ HM	Zircon	Rutile	Leucoxene	Ilmenite
	Category	HM%	Million		Density	%	%3	%	Million	%	%	%	%
			Tonnes*						Tonnes*
Yandanooka	Measured	1.4		3	2.0	4.2	15	13	0.1	11	1.9	2.2	72
Yandanooka	Indicated	1.4		57	2.0	3.0	16	15	1.7	12	3.5	3.6	70
Yandanooka	Inferred	1.4		0.4	2.0	1.6	15	14	0.01	11	3.2	4.9	71
Yandanooka	Total	1.4		60	2.0	3.1	16	15	1.8	12	3.4	3.6	70
West Mine North	Measured	1.5		4	2.0	8.3	14	1	0.3	4.5	9.4	10	55
West Mine North	Indicated	1.5		14	1.9	4.2	11	3	0.6	7.3	9.8	5.2	60
West Mine North	Total	1.5		18	1.9	5.1	11	2	0.9	6.7	9.7	6.3	59
Durack	Indicated	1.5		23	1.9	3.0	14	19	0.7	14	2.9	4.5	70
Durack	Inferred	1.5		1.1	1.9	2.6	12	21	0.03	14	1.9	4.0	75
Durack	Total	1.5		24	1.9	3.0	14	19	0.7	14	2.8	4.5	70
Drummond Crossing	Indicated	1.1		49	2.0	2.1	16	9	1.0	14	10	3.6	53
Drummond Crossing	Inferred	1.1		3	2.0	1.5	16	8	0.05	13	10	2.8	55
Drummond Crossing	Total	1.1		52	2.0	2.1	16	9	1.1	14	10	3.5	53
Ellengail	Inferred	1.5		18	2.0	3.9	15	2	0.7	8.9	8.7	1.9	64
Ellengail	Total	1.5		18	2.0	3.9	15	2	0.7	8.9	8.7	1.9	64
Total	Measured	var.		7	2.0	6.6	14	6	0.5	7.0	6.3	6.9	62
Total	Indicated	var.		142	2.0	2.8	15	13	4.0	12	6.2	3.9	63
Total	Inferred	var.		23	2.0	3.4	15	4	0.8	9.8	8.5	2.2	63
Total	All	var.		172	2.0	3.0	15	11	5.2	12	6.5	3.8	63

*Tonnes have been rounded to reflect the relative uncertainty of the estimate.

1 This estimate is classified and reported in a manner compliant with the JORC code and guidelines (JORC, 2004). Further details on the Mineral Resource at each deposit can be found on the ASX Announcements page of the Company's website.

2 The Mineral Assemblage is represented as the percentage of the Heavy Mineral (HM) component of the deposit, as determined by QEMSCAN. TiO2 minerals defined according to the following ranges: Rutile >95% TiO2; Leucoxene 85-95% TiO2; Ilmenite <55-85% TiO2. 3 West Mine North, Durack and Drummond Crossing are reported below a 35% Slimes upper cut-off.

• 18 -

Eneabba Project contained Valuable HM (VHM) inventory[1 ] (at high grade cut off)

Deposit	Resource	Zircon	Rutile	Leuc.	Ilmenite	Total
	Category	(kt)*	(kt)*	(kt)*	(kt)*	VHM (kt)*
Yandanooka	Measured	13	2	3	87	104
Yandanooka	Indicated	202	60	62	1,190	1,510
Yandanooka	Inferred	1	0.2	0.3	5	6
Yandanooka	Total	215	62	65	1,280	1,620
West Mine North	Measured	15	32	34	183	264
West Mine North	Indicated	43	58	30	351	481
West Mine North	Total	58	89	64	534	745
Durack	Indicated	98	20	32	492	641
Durack	Inferred	4	1	1	21	27
Durack	Total	102	21	33	513	668
Drummond Crossing	Indicated	143	101	37	542	823
Drummond Crossing	Inferred	7	5	1	28	41
Drummond Crossing	Total	150	107	38	569	864
Ellengail	Inferred	60	59	13	431	564
Ellengail	Total	60	59	13	431	564
Total	Measured	28	34	37	270	368
Total	Indicated	486	239	160	2,570	3,450
Total	Inferred	72	65	16	485	638
Total	All	585	337	213	3,320	4,460

*’kt’ (kilotonnes) have been rounded to reflect the relative uncertainty of the estimate. 1 The data summarised in this Table is sourced from the Table above.

• 19 -

Appendix 2: JORC (2012) Table 1 Report (23 July, 2015 Eneabba dunal aircore drilling results)

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	 Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  Aspects of the determination of mineralisation that are Material to the Public Report.  In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	 NQ diameter aircore drilling used to collect 2-3kg samples at 1.5m intervals down-hole.  Mineral Sands Industry-standard drilling technique.
Drilling techniques	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	 Aircore system NQ diameter holes.  Blade drill bit used for all drilling  Aircore system used as an industry standard for HMS deposits.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	 Sample quality (including wet vs. dry and qualitative recovery) is logged at the drill site.  Orientation process undertaken at the beginning of program to set up sampling system to collect 2-3kg sub-sample from 1.5m intervals.  Sample weight recorded at laboratory  Drill system is optimised for HMS.  Duplicate samples are collected at the drill site (see below) to enable analysis of data precision.  The sample quality is considered appropriate, for example, to establish context of exploration results and support Mineral Resource estimation.
Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, _channel, etc) photography. _	 Every drill sample is washed and panned, then geologically logged on-site in 1.5m intervals, recording primary, secondary and oversize lithology, qualitative hardness, grainsize, rounding, sorting, and washability, visual estimates of HM%, SL% and OS%, and depth to water table.  The entire length of the drill hole is logged;

• 20 -

Criteria	JORC Code explanation		Commentary
	 The total length and percentage of the relevant intersections logged.		minimum (nominal) interval length is 1.5m.  Logging is suitable such that interpretations of grade and deposit geology can be used, for example, to establish context of exploration results and support Mineral Resource estimation.
Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core taken.  If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.  Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.  Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.  Whether sample sizes are appropriate to the grain size of the material being sampled.		HM%, SL% OS% Determination Drill Site  2-3kg sample collected at 1.5m intervals in numbered bags at the drill site via rotary splitter at cyclone discharge point.  Duplicate samples (field duplicates) collected at drill site 1 in every 40 samples.  Reference blank material samples inserted 1 each in every 40 samples.  Sample submitted to external laboratory for heavy liquid separation (HLS) determination of weight per cent heavy mineral (HM), Slimes (SL) and Oversize (OS). Laboratory  2-3kg drill sample sub-split via rotary splitter to approx. 200g for analysis.  HM, SL and OS calculated as percentage of total sample weight.  Laboratory repeat and standard are inserted 1 in every 40 samples. All  Spacing of duplicate, standard, blank and lab repeat samples are designed to identify sample misplacement or misallocation during sample collection and laboratory analysis.  Sample representivity and data precision has been determined as acceptable through analysis of results from field duplicate samples and laboratory repeats.  Visual estimates of HM, Slimes and OS logged at the drill site are compared against laboratory results to identify any major errors.  Analysis of duplicates show the data has acceptable precision, indicating sampling techniques are appropriate for the deposit style.  Techniques are considered appropriate for use in public reporting of Exploration Results. HM Assemblage Determination  Heavy Mineral Concentrate (HMC) from individual samples is combined according to HM grade and weight into (nominal) 25g – 50g composite samples for HM assemblage determination.  Weighed HMC is split via a micro-riffle to ensure HM%, SL% and OS% of the final composite sample can be correctly calculated.  Resultant data is considered to be of suitable quality for the reporting of Exploration Results.

• 21 -

Criteria	JORC Code explanation		Commentary
Quality of assay data and laboratory tests	 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.  For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.		HM%, SL% OS% Determination  Assay and laboratory procedures are industry standard for HMS, although laboratories’ methods and heavy liquid composition vary slightly. TBE (2.96g/ml) is used for these results.  Method produces a total grade as weight per cent of the initial sample.  Method does not determine the relative amounts of valuable (saleable or marketable) and non-valuable heavy mineral species.  QAQC sample frequency is described above. Blank material used is commercially available builder’s sand.  Reference standards and blanks are examined for performance over time and within laboratory batches. Batches or sub- batches are re-analysed if unacceptable QAQC data are returned.  Analysis of reference standards, blanks and laboratory repeats show the data to be of acceptable accuracy and precision for use in public reporting of Exploration Results. HM Assemblage Determination  HM assemblage determination was by QEMSCAN™.  This method is considered an industry standard, typically optimised according to the HM characteristics of individual deposits.  The QEMSCAN™ process uses observed mass and chemistry to classify particles according to their average chemistry, and then report mineral abundance by % mass.  For TiO2minerals specific breakpoints are used to distinguish between rutile (>95% TiO2), leucoxene (85-95% TiO2) and ilmenite (<55-85% TiO2). These breakpoints are chosen to reflect mineral assemblage data defined by previous workers in the region, and provide a consistent base for comparison between prospects and Mineral Resources.  Reference material was not used, the method design and comparison to visual observation is considered sufficient to establish acceptable accuracy of the data for the reporting of Exploration Results.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.		 Significant intervals are reviewed by senior Sheffield personnel prior to release.  Data is logged electronically using “validation at point of entry” systems prior to storage in the Company’s drill hole database, which is managed by Company personnel and an external consultancy.  Documentation related to data custody and validation are maintained on the Company’s’ server.

• 22 -

Criteria	JORC Code explanation	Commentary
		 No assaydata have been adjusted.
Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control.	 Drill hole collar locations were determined by handheld GPS with expected accuracy of +/- 15m horizontal.  RL was determined by projection to a DTM models created from Landgate spot height data.  Coordinates are referenced to the Map Grid of Australia (MGA) zone 50 on the Geographic Datum of Australia (GDA94), RL are AHD.  The quality and accuracy of the topographic control is considered sufficient for the reporting of Exploration Results.
Data spacing and distribution	 Data spacing for reporting of Exploration Results.  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.  Whether sample compositing has been applied.	 See body of announcement for drill hole spacing.  Significant intervals are reported as indicated in the relevant table(s) in the body of the announcement.  Details of samples composited for mineral assemblage determination are included in the body of the announcement.
Orientation of data in relation to geological structure	 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	 Mineralisation is generally flat-lying, vertical drill holes therefore approximate true thickness and perpendicular intersection of mineralisation.
Sample security	 The measures taken to ensure sample security.	 Sample security is not considered a significant risk given the location of the deposit and bulk nature of mineralisation.  Nevertheless, the use of recognised transport providers, and sample dispatch procedures directly from the field to the laboratory are considered sufficient to ensure appropriate sample security.
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 No formal external audits or review of sample techniques or data have been conducted.  Audits are not considered necessary at this stage, Industry-standard methods are beingemployed.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	Statement	Commentary
Mineral tenement and land tenure status	 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.  The security of the tenure held at the time of reporting along with any known	 Exploration results reported are from Exploration Licences E70/3812, E70/4313, E70/3846 (Mt Adams); E70/4292 (Robbs Cross and Ding Road); E70/3814 (Ding Road) and E70/4190 (Thomsons).  These are within Sheffield’s Eneabba Project and are centred along the Brand Highway in the Midwest region of Western Australia.

• 23 -

Criteria	Statement	Commentary
	impediments to obtaining a licence to operate in the area.	 Results are also reported from E70/4584 (Mindarra Springs) which is part of Sheffield;s McCalls Project and is 110km north-east of Perth. The tenement is serviced by the sealed Moora-Bindoon Road and via a network of public secondary roads.  E70/3812 was granted on 10/11/2010 and is due to expire on 9/11/2015. E70/3814 was granted on 10/11/2010 and is due to expire on 9/11/2015. E70/3846 was granted on 15/10/2012 and is due to expire on 14/10/2017. E70/4190 was granted on 27/06/2012 and is due to expire on 26/06/2017. E70/4292 was granted on 5/10/2012 and is due to expire on 4/10/2017. E70/4313 was granted on 17/01/2013 and is due to expire on the 16/01/2018. E70/4584 was granted on 1/04/2014 and due to expire on 31/03/2019.  All tenements are held 100% by Sheffield Resources Ltd.  There are no known or experienced impediments to obtaining a licence to operate in the area.  Sheffield has been operating successfully in the region for more than 4.5 years to date.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 The Mindarra Springs area was explored by BHP between 1991 and 1996. BHP completed 410 holes for 13,556m drilled over the project area, about 150 of which cover Mindarra Spings – refer to the body of the announcement for further detail.
Geology	 Deposit type, geological setting and style of mineralisation.	 The Eneabba Project forms part of the Swan Coastal Plain bounded to the east by the Gingin Scarp within the Northern Perth Basin. The Gingin Scarp is a remnant feature of the marine incursion which resulted in the reworking of older rocks and ended in the deposition of heavy mineral sand enriched beach placers within Cainozoic sediments. Heavy mineral sand mining is prolific within the Swan Coastal Plain sediments.  The prospects drilled are in newly interpreted heavy mineral trap sites located to the north of Eneabba and to east of the Gingin Scarp and adjacent to westerly to south-westerly trending paleo- drainage.  Mindarra Spring consists of unconsolidated Cainozoic littoral sands, gravel and clays which cover the Cretaceous sediments of the Dandaragan trough. The Dandaragan trough is fault bound to the west by the Eneabba Fault System and to the east by the Darling Fault; which forms the topographic expression of the Darling Fault separating the Perth Basin from the Archaean Yilgarn craton.
Drill hole Information	 A summary of all information material to the understanding of the exploration	 Information relating to the number of drill holes,assayed samples,location

• 24 -

Criteria	Statement	Commentary
	results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.  If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	accuracy, orientation etc. is included in this table, and in the body of the announcement.  Diagrams in the body of the announcement show the location of and distribution of drill holes.
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.  The assumptions used for any reporting of metal equivalent values should be clearly stated.	 Criteria for calculating significant intervals are included in the body of the announcement. Minimum widths, maximum internal waste intervals and cut- off grades have been selected to most- appropriately represent the mineralisation, taking into account the early-stage, reconnaissance nature of the drill program. No “high” or “top-cuts” are applied. Higher-grade components of significant intervals are detailed in Table 1 preceded by the term_“including”._
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down _hole length, true width not known’). _	 Mineralisation is generally flat-lying, vertical drill holes therefore approximate true thickness.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	 See body of announcement.
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	 All current drill hole results are reported in this announcement. Where results do not meet the criteria of significant interval these are reported in Table 1 as “no significant interval”.  All information considered material to the reader’s understanding of the exploration results have been reported.
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment;	 Sheffield has previously reported information for the Eneabba Project Area the most recent being ASX release entitled ‘1Mt Heavy Minerals Resource Added to Eneabba Project’ dated 30th October,2013(available from the

• 25 -

Criteria	Statement	Commentary
	metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	company’s website: www.sheffieldresources.com.au).  Where relevant this information has been referred to in the body of this announcement.
Further work	 The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	 Refer to the Further Work section in the body of announcement.