INDIA RESOURCES LIMITED

Territory Resources Limited advise that it has reached an agreement to sell its stake in India Resources Limited. The sale of the 8.5% interest, which is one of the final remaining investments from its previous diversification strategy, is consistent with Territory’s strategy of focusing on its core iron ore operations in Australia. The deal will involve the sale of Territory’s stake in India (19,019,000 shares) at $0.024 per share, raising a total of A$456,456, and the transfer of a A$1.5 million inter-company loan previously provided to India by Territory, for a total cash settlement of A$1.956 million.