Successful ASX Listing and Exploration Update

Tight capital structure with 57,475,720 shares on issue

Well-funded with $5.0 million of cash – significant funds committed to exploration activity

All permits granted for Kumarina drilling program – rig booked for January commencement

Top 20 investors hold 78% of the issued capital

Sydney, 1 December 2011: Manganese and gold exploration company Bligh Resources Limited (ASX: BLH) is pleased to announce its successful listing on the Australian Securities Exchange. $3.5 million was raised through the issue of 14,000,388 new ordinary shares to retail, sophisticated and institutional investors. Bligh has a tight capital structure with a total of 57,475,720 shares on issue. Of this, 24,219,000 ordinary shares are in escrow for a period of two years. Bligh now has a cash balance of $5.0 million to fund its continuing exploration activities across its portfolio of 100% owned projects with a majority of funds earmarked for exploration activities. Executive Director Corporate Mr Robert Benussi commented: “We are pleased to have received solid shareholder support for our IPO and we are now focused on fast tracking our exploration activities with the Grenfell project in New South Wales and the Kumarina project near Newman in Western Australia being our priority targets (refer Figure 1). “We are grateful for the support we have received from our shareholders and we are pleased to have attracted a well balanced mix of institutional and sophisticated investors to Bligh’s register. The support from our cornerstone investors has also continued and they remain committed to the company’s growth.” Bligh is encouraged by Mr Hanjing Xu’s and Mr Peipi Zhang’s contribution to the Company. Their expertise in both the Resources sector and the Chinese financial markets gives Bligh a major strategic advantage. Executive Director Exploration Mr Bill Guy added: “Our progress to date is encouraging and the completion of the IPO gives us the necessary funding to accelerate our exploration efforts (see Table1). We have already commenced work at Grenfell (sampling), Leonora Gold (Mapping), and Manilla (Field work and geophysical interpretation). “We are also pleased to report that all permits have been granted for drilling to commence at the Kumarina project in Western Australia, which is adjacent to Montezuma Mining’s (ASX: MZM) Butcherbird project (refer figure 2). We have already undertaken an airborne VTEM survey which has identified a number of promising anomalies. An Aircore rig has been booked for January 2012 and we are planning a 2,500 metre reconnaissance drilling campaign.” Bligh will update shareholders on the assays from its sampling activities at Grenfell as soon as results become available (refer Figures 3 & 4). Further information: Robert Benussi: (+61 2) 9233 4677 or 0410 415 335 Bill Guy: 0408 345 378 Released through: Ben Jarvis – Six Degrees Investor Relations: 0413 150 448

Bligh Resources Limited

ABN 130 964 162

ASX Release 1 December 2011 Bligh Resources Ltd Suite 804 Level 8, 84 Pitt St Sydney New South Wales 2000 Tel: +61 2 9233 4677 Fax: +61 2 9239 0866

Contacts: Robert Benussi Bill Guy Email: info@blighresources.com.au For the Latest News: www.blighresources.com.au Directors/Officers Robert Benussi Charles Guy Hanjing Xu Peipi Zhang Issued Capital: Shares: 57,475,720 Unlisted Opts: 16,000,000 (Escrowed)

ASX Symbol: BGH Currently Exploring for:

Manganese

Gold

Current Projects:

Kumarina

Bootu Creek Two

Grenfell

Manilla

Leonora

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mailto:info@jupitermines.comhttp://www.jupitermines.com/

Table 1 Exploration Budgets

*Includes office expenses (The use of funds described in the above table is contingent upon progressive exploration results being favourable)

Figure1: Project Locations

Table 1 Exploration Expenditure Exploration Activity / 2 Years

Grenfell Bootu Two

Kumarina Lenora Gold

Manilla Total

Data collection and Validation $15,000 $12,000 $3,600 $4,200 $12,000 $46,800 Geological- salaries & consultants $299,800 $50,040 $44,540 $50,500 $65,560

$510,440

Mapping & Rockchiping $14,000 $20,000 $0 $20,000 $30,000 $84,000

Geophysical surveys $180,000 $50,000 $3,000 $0 $60,000 $293,000

Satellite Data collection & Interpretation $17,500 $20,000 $10,000 $30,000 $0 $77,500

Drilling- RAB, RC, Diamond $222,500 $153,200 $200,000 $277,000 $151,000 $1,003,700

Environmental studies $30,000 $12,000 $12,000 $15,000 $11,000 $80,000

Metallurgical test work $130,000 $30,000 $50,000 $0 $20,000 $230,000

Tenement Administration* $139,000 $84,900 $92,813 $92,900 $60,800 $470,413

Total $1,047,800 $432,140 $415,953 $489,600 $410,360 $2,795,853

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Figure 1: Project Location Map

Figure 2: Kumarina Project showing 30 m Conductivity Slice Image and Adjacent Butchers Bird project

Figure 3: Field work at Grenfell, NSW

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Figure 4: Sampling at Grenfell, NSW

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