ASX RELEASE

Directors & Management

Art Palm (Chairman & CEO)

Steve van Barneveld (Non-Executive Director) Joel Nicholls (Non-Executive Director)

Key Projects

Crown Mountain Coking Coal Project

Elk Valley Coal Field, Canada

Dunlevy Coal Project

Peace River Coal Field, Canada

Investment Highlights

Positioned in world class metallurgical coalfields

Significant development expertise on board with successful track record

Modern rail and port facilities

Strong financial position

Newsflow / Catalysts

Contact Details

Australia Overview

Suite 5, 62 Ord Street

West Perth, WA 6005

P+61 (8) 9200 4473 F +61 (8) 9200 4463

E [email protected] .au

Canada

Suite 800, 1199 West Hastings, Vancouver

P +1 (604) 629-8605

Additional Testing Confirms Crown

Mountain as Premium Hard Coking Coal

Highlights

Carbonization in a pilot coking oven has returned excellent results.

Coke strength after reaction (“CSR”) is a very attractive 73.5, confirming previous results determined by the smaller sole heated oven.

JIS Drum Index (DI30/15) 92.7 and (DI150/15) 81.5.

ASTM coke stability: 59. ASTM coke hardness: 67.

Micum M40: 74. Irsid I40: 47.

Desirable low wall pressure of 2.5 kPa (0.36 psi)

FSI for the feed coal is 7, ash 9%, volatile matter 20%, 0.56% sulphur, 0.05% phosphorous, RoMax 1.36, with total reactives of 67.1%.

The above confirms the PFS conclusion that the Crown Mountain north pit contains premium grade hard coking coal, expected to command benchmark pricing.

Jameson Resources (“Jameson”, the “Company”) is pleased to announce extremely positive results from pilot oven carbonization of Crown Mountain north pit coal.

The testing was the most comprehensive yet for Crown Mountain coal and yielded a suite of coke test results confirming the earlier PFS conclusion that the north pit coal is an exceptional high quality hard coking coal that should command benchmark pricing.

The carbonization work was performed by CanMet Energy (“CanMet”), with petrographic analysis completed by Pearson Coal Petrography (“Pearson”), both internationally respected experts in their fields.

Testing on the north pit coal is now complete. Samples from the south pit continue through the analysis flowsheet, with the pilot wash scheduled to commence in mid-May, followed by carbonization testing in June.

The management teams of Jameson, and its strategic partner Bathurst Resources Limited, are very pleased with the testing results and continue to advance the project on multiple fronts.

On Behalf of the Board of Directors,

Art Palm

Chief Executive Officer

www.jamesonresources.com.au

DISCUSSION:

ASX RELEASE

Testing of the north pit blend of Crown Mountain coal is now essentially complete, as is evaluation of coke produced by that material in a pilot (movable wall) oven (345 KG capacity). The results are overwhelmingly positive and confirm the north pit coal to be a premium hard coking coal.

With a pilot CSR of 73.5 (confirming the earlier SHO figure of 76) and a volatile matter of 20%, the north pit coal places in an enviable position compared to other premium hard coking coals as illustrated below. Coals such as this are required by cokemasters to achieve the targeted coke strength for optimal blast furnace fuel efficiency.

In converting coal to coke, a key concern with lower volatile coals is the potential for oven wall pressure, as coals causing high wall pressures can cause structural damage to coke ovens. CanMet determined the north pit coal to have very low oven wall and gas pressures of 2.5 kPa (0.36 psi) and 1.4 kPa (0.20 psi) respectively.

The clean quality of the feed coal reflects typical Canadian export hard coking coal:

The pages that follow contain the detailed data reporting sheets provided by the respective laboratories involved in evaluating the coal and coke.

The south pit coal samples are following the identical path as the north pit coal. Individual seam splits are being analysed at a Calgary facility. A representative blend will then be made, and shipped to a pilot plant in Denver, with washing targeted for May 13-31. The clean product will be shipped to Ottawa for CanMet carbonization in the pilot oven, and the resulting analyses.

The Bankable Feasibility study and Application for an Environmental Assessment Certificate are both underway, as the Project is being advanced expeditiously toward the objective of constructing and operating a high-quality and low-cost open pit hard coking coal mine.

www.jamesonresources.com.au

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CanMet Results

www.jamesonresources.com.au

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Sample Identification

Pearson Petrographic Results

www.jamesonresources.com.au

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Pearson Vitrinite Reflectance Profile

Pearson Maceral Pie Chart

www.jamesonresources.com.au