VOLT RESOURCES LIMITED — Regulatory Filings 2012

Jul 29, 2012

MOZAMBI COAL LTD

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(ASX: “MOZ”, “Company” or “Mozambi”)

ASX RELEASE

30 JULY 2012

SONGO & MUTURARA PROJECT UPDATES

Mozambi Coal Limited is pleased to provide the following exploration update on its Songo and Muturara Projects situated in the emerging and highly prospective Zambeze Coal Basin, Mozambique.

Highlights:

• Interpretation of airborne geophysical survey data completed

• Additional target area spanning 32.5km2 identified at Songo Project

• 40km2 Karoo area at Muturara Project potentially contains shallower target zones.

EXPLORATION UPDATE

2738L “Songo” Project, Zambeze Coal Basin

As previously reported, the Company is still in the early stages of its exploration programme on the Songo Project. Interpretation of the airborne magnetic and radiometric geophysical survey has now been completed by Salva Resources. This interpretation has revealed that the License covers two new target areas (Figure 3).

• Target 1 – covering the north-east corner is a priority target area of approximately 7.5km2 of Lower Karoo (potentially the Productive Series); and

• Target 2 – covering approximately 25km2 adjacent to Target 1 is a further target area of potentially shallow Upper Karoo overlying the full sequence target coal seams of the Lower Karoo Productive Series.

Additionally, the interpretation has confirmed that the License covers structurally complex “block faulted” Karoo sediments within the existing 25km2 target area situated in the south-east corner of the License.

Given the structural complexity demonstrated by the study, the Company is now planning ground geophysics to assist in targeting areas in the north-east of the License (as a priority) in preparation for drilling in the coming months.

Mozambi Coal Limited ACN 106 353 253 Level 2, 640 Murray Street, West Perth, Western Australia 6005 Tel: (+618) 9321 0774 Fax: (+618) 6314 1557

3246L “Muturara” Project, Zambeze Coal Basin

Interpretation of the airborne geophysical survey covering the Muturara Project has been completed and this work has identified significant “block faulting” in the target area situated on the northern portion of the licence. The target zone (Productive Series – Lower Karoo) is still interpreted to be at a significant depth but the block faulting may have lifted some blocks nearer to the surface than originally interpreted.

Additional surface geophysical surveys will now planned prior to any drilling activity.

Mozambi Coal managing director Shiv Madan said “We are pleased with the identification of a new and substantial target area at Songo, which significantly increases the potential for coal discovery at this Project. Additionally, the potential uplift of part of the target Karoo area at Muturara to shallower depths improves the prospects for open pittable coal here also.

Aside from planning for our next steps for the exploration at Songo and Muturara, we continue to progress our discussions and negotiations regarding other potential acquisitions in the region.”

Competent Person’s Statement

The information in this report which relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Salva Resources, in the report “Geophysical Reinterpretation and Exploration Target Identification, Tete Region”

A review of this report was conducted by Mr Anthony Shellshear, who is a Member of the Australasian Institute of Mining and Metallurgy and independent consultant to the Company. Mr Shellshear is an employee of Salva Resources P.L. and has over 35 years of exploration and mining experience in a variety of mineral deposit styles including coal mineralisation. Mr Shellshear 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, Mineral Resources and Ore Reserves”. Mr Shellshear consents to inclusion in the report of the matters based on his information in the form and context in which is appears.

Mozambi Coal Limited ACN 106 353 253 Level 2, 640 Murray Street, West Perth, Western Australia 6005 Tel: (+618) 9321 0774 Fax: (+618) 6314 1557

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.

The Company has a 70% interest in two mineral exploration licences situated in the Zambeze Coal Basin in Mozambique and in July 2011 announced an agreement to acquire an 80% interest in a third exploration licence, 2738L (“Songo” Project), also within the Zambeze Coal Basin. The Zambeze Coal Basin is an emerging and highly prospective coal region that is within economic reach of the East African coast. Globally significant resources companies including Rio Tinto (LON: RIO), Vale, Jindal Steel and ENRC have undertaken coal exploration and development projects in the basin.

The combined tenement size held by the Company is approximately 609km[2] , spanning three tenements, 2738L (“Songo” project) 3245L (“Tete West” project) and 3246L (“Muturara” project). 2738L is located 115km west of the city of Tete and 40km southwest of Jindal licence 1218L where a 700 million tonne coal reserve has been identified. 3245L is located 12km West of the city of Tete and extends over 182km[2] , and lies immediately southwest of Rio Tinto tenement 946L. 3246L is located 58km[2] southeast of the city of Tete and covers approximately 202 km[2] . The tenement is located 45km southeast of the Moatize Coal Mining Camp owned by Vale.

Figure 1: Map of Mozambique within Figure 2: Map of Mozambi Coal’s Tenements within Zambeze Africa Basin

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Mozambi Coal Limited ACN 106 353 253 Level 2, 640 Murray Street, West Perth, Western Australia 6005 Tel: (+618) 9321 0774 Fax: (+618) 6314 1557

Figure 3: Geological Map of Songo Project (2738L)

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Mozambi Coal Limited ACN 106 353 253 Level 2, 640 Murray Street, West Perth, Western Australia 6005 Tel: (+618) 9321 0774 Fax: (+618) 6314 1557