News Column

Paringa Resources Limited - Completion of placement

July 31, 2014



ENP Newswire - 31 July 2014

Release date- 30072014 - Paringa Resources Limited is pleased to announce that it has completed its previously announced placement of 12,500,000 ordinary shares of the Company to institutional and sophisticated investors in Australia and North America to raise gross proceeds of A$5,000,000.

The proceeds from the Placement will be used to accelerate the Company's planned development initiatives at its flagship Buck Creek coal project ('Buck Creek Project').

Canaccord Genuity (Australia) Limited acted as Lead Manager to the Placement.

Contact:

Paringa Resources Limited

Level 9, BGC Centre

28 The Esplanade

PERTH WA 6000

Tel: +61 8 9322 6322

Fax: +61 8 9322 6558

Email: admin@paringaresources.com

www.paringaresources.com

ABOUT BUCK CREEK PROJECT

The Buck Creek Project is located in the Western Kentucky region of the Illinois Coal Basin which is one of the most prolific coal producing regions in the USA. Paringa controls over 26,000 gross acres (10,500 ha) of coal leases within an area of interest of approximately 72,000 acres (28,000 ha).

The Buck Creek Project has a JORC Coal Resource Estimate of 154 million tons (140 million tonnes) of high quality thermal coal with over 88% in the Measured & Indicated categories. The Buck Creek Project is one of the few remaining contiguous high quality thermal coal projects within the WK No.9 Seam that is not controlled by one of the major USA coal companies and offers one of the highest quality, highest heating value products in the Illinois Coal Basin.

The Buck Creek Project is located adjacent to the Green River which provides year round linkage to the Ohio and Mississippi rivers systems which feed domestic coal-fired power plants and coastal export coal terminals in the Gulf of Mexico.

Forward Looking Statements

This announcement may include forward-looking statements. These forward-looking statements are based on Paringa's expectations and beliefs concerning future events.

Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Paringa, which could cause actual results to differ materially from such statements. Paringa makes no undertaking to subsequently update or revise the forward looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.


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Source: ENP Newswire


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