XSTATE RESOURCES LIMITED — Capital/Financing Update 2012

May 6, 2012

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XState Resources Limited ABN 96 009 217 154 Registered office Postal address 41 Stirling Highway PO Box 985 Nedlands WA 6009 Nedlands WA 6909 Tel: +61 8 9423 3200 Website Fax: +61 8 9389 8327 www.xstate.com.au

7 May 2012

ASX Limited

Electronic lodgement

LAPSING OF UNLISTED OPTIONS

XState Resources Limited wishes to advise that 333,334 unlisted options expired on 30 April 2012 unexercised.

For and on behalf of the Board.

XState Resources Limited