VOLT RESOURCES LIMITED — Regulatory Filings 2014

Jan 23, 2014

==> picture [106 x 107] intentionally omitted <==

ASX ANNOUNCEMENT

24 January 2014

By e-lodgement

EPC 1768 – BOWEN RIVER EXPLORATION UPDATE

• Drill Targets Identified

• Planning Underway for 13-Hole Drilling Campaign during 2014

Mozambi Coal Limited (ASX: MOZ, Mozambi or Company ) provides an update on exploration activities in relation to its Bowen River project (EPC 1768).

Following consultation with the Company’s technical advisors, Mozambi intends to proceed with a 13-hole, 5,000m rotary chip drilling campaign during 2014 with the objective of progressing project resource estimation to the JORC 2012 standard. The expected drill locations are show in Figure 1 below and cover both the Northern and Southern portions of the EPC.

Negotiations with service providers have commenced and the Company looks forward to providing further updates as planning activities are progressed.

==> picture [325 x 252] intentionally omitted <==

Figure 1 - Planned 2014 Drilling Locations

Mozambi Coal Limited (ASX: MOZ) Level 1, 44 Ord Street ABN 28 106 353 253 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

The drilling campaign remains subject to funding as well as access arrangements, including landholder compensation, environmental clearances and cultural heritage.

Regional Geology and Resource Potential

EPC 1768, Bowen River, is considered by Mozambi to be prospective for metallurgical coal due to the fact that the tenement contains outcrops of three coal bearing measures (Rangal Coal Measures (RCM), Fort Cooper Coal Measures (FCCM) and the Moranbah Coal Measures (MCM)). The RCM and MCM in particular are mined extensively within the Bowen Basin for coking coal (hard, semi-hard and semi-soft), PCI coal and to a lesser extent, thermal coal (see stratigraphic column, Figure 2 below).

Figure 2 Regional Stratigraphy of the North-Central Bowen Basin

==> picture [572 x 469] intentionally omitted <==

==> picture [61 x 61] intentionally omitted <==

2

The area covered by EPC 1768 was previously drilled by Xstrata prior to Rio Tinto acquiring the project. All drill holes are reported as having intersected coal, which Mozambi considers to be very encouraging. Previous drilling was sparse and coal seams intersected still have not yet been correlated. Mozambi has started to compile and database all historical drilling, local field mapping, photogeological studies, and interpretation of airborne geophysics available. Of assistance is recent government mapping and the publication of the Northern Bowen Basin Geological Framework map in 2008. Figure 3 , below, highlights various prospective zones

Figure 3: EPC 1768 Prospective Zones based on Regional Mapping

==> picture [572 x 389] intentionally omitted <==

==> picture [61 x 61] intentionally omitted <==

3

EPC 1768 – BOWEN RIVER – LOCATION

==> picture [398 x 314] intentionally omitted <==

==> picture [61 x 61] intentionally omitted <==

4