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1 Manganese Intercepted at Grenfell Project Bligh Resources Limited ACN ASX: BGH ASX Release 24 December 2012 Suite 804 Level 8, 84 Pitt St Sydney New South Wales 2000 Tel: Fax: Contacts: Robert Benussi Bill Guy info@blighresources.com.au For the Latest News: Historical Manganese Mines drill tested In total 1,840 m of RC drilling completed over 19 holes Drilling funded by Phase One of Bligh/Yiwang JV Bligh Resources Limited ( Bligh or Company ) (ASX: BGH) is pleased to announce completion of the initial Reverse Circulation (RC) drilling program at its Grenfell Project (Figure 1 & Attachment 1). The program tested two historical mining areas, Bellbird Workings (6 RC Holes) (Attachment2) and the Hoskins Mine (13 RC Holes) (Attachment 3). The manganese mineralisation intercepted within the historical underground workings at the Hoskins Mine was the most significant. Drilling results include the following intercepts: Hole GF002 2 MnO from 33m down hole depth including 1 % MnO Hole GF % MnO from 35 m down hole depth Hole GF % MnO from 28m down hole depth Hole GF007 2 MnO from 74 m down hole depth including % MnO Hole GF007 3 MnO from 80 m down hole depth Hole GF008 2 m@ 10.23% MnO from 107m from down hole including % MnO Directors: Noel Halgreen (Chairman) Robert Benussi Charles Guy Hanjing Xu Peiqi Zhang Jinle Song Liming Niu (Alternate Director for Mr Xu) Zhijie Li (Alternate Director for Mr Zhang) Dinghao Song (Alternate Director for Mr J Song) Company Secretary Adrian Di Carlo Issued Capital: Shares: 57,475,720 Unlisted Opts: 16,000,000 (Escrowed) Currently Exploring for: Manganese Gold Copper Current Projects: Kumarina Bootu Creek Two Grenfell Manilla Leonora Bundarra Gold Project Figure 1 RC Drill Rig Hoskins Manganese Mine Bligh and Yiwang Ferroalloy are assessing the first pass drill results. The highest assay return was from Hole GF002 which included 1m@ 33%MnO (Figure 2) at the Hoskins Mine. Manganese mineralisation was intercepted within the Hoskins Chert beds. The chert beds are believed be to part of marine sediment package including sandstone, siltstones and basalts. The old workings were tested over strike length of 1.6 km down to a depth of 196m. In general, drilling targeted the manganese mineralisation, from surface to depth of 100m. The historical Bellbird Working returned no significant manganese assay results from six RC drill holes installed. Grenfell has a rich mining history with historical gold and manganese production. The Hoskins Manganese Mine was the largest producer in NSW between 1915 and 1941 generating 25,700t of manganese.

2 The drilling confirmed that manganese mineralisation sits on a structurally controlled hydrothermal system with minor phases of sulphide mineralisation (Hole GF010 pyrite, pyrrhotite, sphalerite). Figure 2. Hole GF002 1 % MnO GF013 at 62-64m. The copper is carried with minor sulphides. In total, 558 composite samples were collected for multi element assays (see attachments 4 & 5). Drilling was effective in intercepting the historical workings and the target lithology of the Hoskins Chert. In general the old workings are about 0.5m to 2m wide (Attachment 6) and have been intercepted as far as 80m below surface. Hole GF10 targeted the Induced Polarisation (IP) anomaly which was identified in earlier exploration initiatives. Between m, it was noted that quartz was hosting pyrite, pyrrhotite, sphalerite and chlorite, and galena mineralisation was intercepted. Mineralisation and alteration returned peak copper values of 306 ppm Cu from m depth.the highest anomalies returned copper values of 471 ppm Cu from Hole Assay values for high levels of titanium (Ti), mostly around 1%, were returned for 17 of the 19 RC drill holes, with peak vales up to 1.93% Ti (Attachment 7). The elevated Ti sits mostly within the sediment package associated with the sandstone, siltstone and basalt. The new geological data will add context to the historical mine data. The Bligh/Yiwang JV is now assessing the RC drilling results from the historical manganese mines and future exploration activities will be planned following a full interpretation of results. ENDS Further information: Robert Benussi +61 (0) Managing Director, Corporate Bill Guy: +61 (0) Managing Director, Exploration Competent Person- Charles W Guy The information in this announcement that relates to Exploration Results is based on information compiled by Mr Charles William Guy who is a Member of the Australian Institute of Geoscienctists. Charles William Guy has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that 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. Charles William Guy consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.charles William Guy is a full time employee of Bligh Resources Limited in the postion of Managing Director- Exploration.

3 Attachment 1. Grenfell tenement Location Map Attachment 2. Drill Hole Location Plan Bellbird Manganese Workings

4 Attachment 3. Drill Hole Location Plan Hoskins Manganese Workings

5 Attachment 4 Grenfell Drill Hole Highlights Summary Table ICP61 Au-ICP21 Averag e met re GRA05 Hole ID Ag Au Al2O3 BaO CaO Cr2O3 Fe2O3 K2O MgO MnO Na2O P2O5 SiO2 SrO TiO2 Total LOI Fro m To ppm ppm % % % % % % % % % % % % % % % GF < < GF < < m GF002 Duplicate < < GF < < m No Significant Results GF003 GF004 No Significant Results GF < < GF < < m No Significant Results GF006 GF < < GF < m GF < GF < GF < m GF < < GF < m GF009 To GF019 No Significant Results

6 Exploration results are based on standard industry practices, including sampling, assay methods, and appropriate quality assurance quality control (QAQC) measures. Reverse circulation (RC), air core (AC) and rotary air blast (RAB) drilling samples are collected as composite samples of 4 or 2 metres and as 1 metre splits (stated in results) using splitter and sample spear. Weight averages are used to calculate the average grade over intercept interval. All samples were dispatched to ALS Chemex in Orange NSW. All gold samples were assayed using Au-icP21. Au-icP21 samples are prepared by fusing with a mixture of lead oxide, sodium carbonate, borax, silica and other reagents as required, inquarted with 6 mg of gold-free silver and then cupelled to yield a precious metal bead.the bead is digested in 0.5 ml dilute nitric acid in the microwave oven. 0.5 ml concentrated hydrochloric acid is then added and the bead is further digested in the microwave at a lower setting. The digested solution is cooled, diluted to a total volume of 4 ml with demineralized water, and analysed by inductively coupled plasma atomic emission spectrometry against matrix-matched standards. X-ray Mutli element Ore grade fluorescence spectrometry (XRF) is the method of choice for the analysis of ore GRADE samples. A prepared sample (0.66 g) is fused with a 12:22 lithium metaborate lithium tetraborate flux which also includes an oxidizing agent (Lithium Nitrate), and then poured into a platinum mould. The resultant disk is in turn analyzed by XRF spectrometry. Attachment 5 Drill Hole Summary Hole ID Depth (m) Dip Location Easting Northing GF GF003 GF004 GF005 GF006 GF007 GF008 GF009 GF010 GF011 GF012 GF013 GF014 GF015 GF016 GF017 GF018 GF South GF South

7 Note co-ordinates MGA 94 Zone 55 Attachment 6 Geological Cross section of historical Manganese Working at Grenfell Attachment 7 Highlights of Titian (TI) Assays Hole Number Depth (m) Metres Ti (%) GF GF GF004 No Significant Mineralisation GF GF GF GF GF GF GF GF GF GF GF GF GF015 No Significant Mineralisation GF GF GF GF018 No Significant Mineralisation GF GF