VOLT RESOURCES LIMITED — Regulatory Filings 2012

Dec 16, 2012

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TERMINATION OF AGREEMENT TO ACQUIRE SONGO LICENSE

MOZAMBI COAL LTD

(ASX: “MOZ”, “Company” or “Mozambi”) 17 December 2012

Further to the Company’s announcement dated 13 December 2012 regarding the completion of its due diligence programme on Exploration License 2738L (“Songo” project or “License”), the Company now wishes to advise that it has exercised its right to withdraw from its agreement to acquire the License and has advised its local partner accordingly.

Based on the cumulative exploration results achieved on the License during 2011 and 2012, the Company considers it unlikely that its objective of discovering near surface coal (<500m) will be met. The programme included ground geophysics in the northeast corner of the License, coupled with scout drilling, airborne geophysical surveys and satellite imagery completed in the southeast corner.

Mozambi Coal Managing Director, Shiv Madan said, “We’re looking forward to our 2013 exploration programme on our Muturara project. We’re also confident regarding additional coal acquisitions given the progress of our discussions on several assets in Mozambique and elsewhere. The limited prospectivity for coal at Songo is disappointing, but we are satisfied with the technical programme that we completed to evaluate the asset. We remain focused on our objective of securing and exploring assets that exhibit high potential for open cut coking coal.”

Mozambi Coal Limited (ASX: MOZ) ACN 106 353 253 Tel: +61 8 9321 0774 | Fax: +61 8 6314 1557 www.mozambicoal.com

Level 2, 640 Murray Street West Perth WA 6005 Australia

PO Box 1571 West Perth WA 6872 Australia

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About Mozambi

Mozambi Coal Ltd is a coal exploration company listed on the Australian Securities Exchange under ASX code MOZ. The Company intends to develop as an Africa-focused coal mining company through the exploration and development of its’ existing exploration licences in Mozambique, East Africa, and the acquisition of further assets in the region.

Figure 1: Map of Mozambique within Africa

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Figure 2: Map of Mozambi Coal’s Tenements within Zambeze Basin

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Figure 3: Geological Map of Muturara Project (3246L)

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Mozambi Coal Limited (ASX: MOZ) ACN 106 353 253 Tel: +61 8 9321 0774 | Fax: +61 8 6314 1557 www.mozambicoal.com

PO Box 1571 West Perth WA 6872 Australia

Level 2, 640 Murray Street West Perth WA 6005 Australia

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Competent Persons Statements

The information in this report which relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Michael Griffiths, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Griffiths is an associate of Black Barrel Exploration Pty Ltd Trustee for the M R Griffiths Business Trust and has over 30 years of exploration and mining experience in a variety of mineral deposit styles including coal, gold and iron ore mineralisation. Mr Griffiths has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for reporting of Exploration Results, Exploration Target Mineralisation, Mineral Resources and Ore Reserves”. Mr Griffiths consents to inclusion in the report of the matters based on his information in the form and context in which it appears.

Mozambi Coal Limited (ASX: MOZ) Level 2, 640 Murray Street ACN 106 353 253 PO Box 1571 West Perth WA 6005 Tel: +61 8 9321 0774 | Fax: +61 8 6314 1557 West Perth WA 6872 Australia www.mozambicoal.com Australia