XSTATE RESOURCES LIMITED — Capital/Financing Update 2010

May 20, 2010

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XState Resources Limited

ABN 96 009 217 154

Registered office Postal address Level 2 PO Box 985 45 Stirling Highway Nedlands WA 6909 Nedlands WA 6009 Tel: +61 8 9423 3200 Website Fax: +61 8 9389 8327 www.xstate.com.au

21 May 2010

ASX LIMITED

Dear Sir / Madam

Re: Updated timetable

Xstate Resources Limited wishes to advise that the previously announced indicative timetable in relation to the entitlement issue has changed and that the directors will advise of the revised timetable when it is available.

Yours faithfully XSTATE RESOURCES LIMITED

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DAVID McARTHUR Director