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26 August 2013

Exploration Update – Siberia South Gold Project, Western Australia Heron Resources Limited (ASX: HRR) is pleased to provide an update on the results of exploration being carried out at its wholly owned Siberia South Gold Project in Western Australia.

Heron Resources Limited

ASX:HRR

Issued Shares 253M

Share Price $0.16

Market Cap $40.5M

Cash (Jun 2013) $39.6M

At Siberia South, a recent shallow RAB drilling program has returned several encouraging results within the weathered zone, including:

o OBRB068: 7 metres @ 1.01g/t gold from 16 metres depth

o OBRB092: 8 metres @ 1.90g/t gold from 8 metres depth

o OBRB095: 8 metres @ 1.33g/t gold from 8 metres depth

o OBRB096: 12 metres @ 0.49g/t gold from 24 metres depth

RC drill follow up is planned for as soon as possible, testing the Lode Envelope in fresh rock below the surface RAB anomalies

Siberia South Gold Project (Heron 100%)

A Rotary Air Blast (RAB) drill program comprising 106 holes for 2,012 metres was completed at the Siberia South Gold Project located 70km northwest of Kalgoorlie, Western Australia within the Kalgoorlie Nickel Project (KNP). The drilling (Figure 1) is targeting Archaean gold mineralisation along the contact between the Siberia Komatiite and the Big Dick Basalt, and also within intrusive dolerite units of the Mt Pleasant Sill.

Figure 1 Image showing gold anomalism from the Heron soil auger campaign on an aerial photo image with recent RAB drillholes coloured by maximum gold in parts per million (ppm), equivalent to grams per tonne (g/t)

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Significant Siberia South gold drilling intercepts included:

o OBRB011: 8 metres @ 0.52g/t gold from 8 metres depth

o OBRB056: 4 metres @ 1.41g/t gold from 4 metres depth

o OBRB068: 7 metres @ 1.01g/t gold from 16 metres depth

o OBRB092: 8 metres @ 1.90g/t gold from 8 metres depth

o OBRB095: 8 metres @ 1.33g/t gold from 8 metres depth

o OBRB096: 12 metres @ 0.49g/t gold from 24 metres depth

A complete listing of significant results and other details is provided in Table 1 at the end of this report. These results (Figures 2, 3) are excellent for first pass RAB drilling to refusal depth (average depth is only 19 metres), and indicate a minimum mineralised zone 80 metres in length and open along strike and down dip. The RAB intercepts are in the leached upper regolith profile, where in the Eastern Goldfields, gold depletion and desultory anomalism is characteristic.

During the field program, old drill collars were observed in the general area. Historical records don’t record this previous drilling. The Company will therefore do a Reverse Circulation (RC) drill program to follow-up the RAB anomaly at depth.

Figure 2

Cross section 304340E looking west showing RAB drilling and interpreted mineralised zone

Figure 3

Cross section 304320E looking west showing RAB drilling and interpreted mineralised zone. Note surface projection of the Lode Envelope contains historic gold workings

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Strategy

These exploration programs are in keeping with Heron’s strategy to pursue worthwhile drill targets generated in-house on 100%-owned tenure. In particular the Siberia South program, being on Heron’s nickel laterite KNP tenure, complements the ongoing nickel laterite metallurgical test-work with exploration programs for non-nickel commodities.

Additionally, the Company continues to acquire strategic tenure through applications adjoining established Heron projects (recent such applications include strategic extensions to Bedonia nickel sulphide and Kalpini nickel laterite).

The Heron cash position of $39.6 million (as at 30 June 2013) facilitates comprehensive but targeted field exploration programs in both WA and NSW at a minimal burn rate.

With the strong cash position, the Company continues to evaluate Business Development opportunities at an ever increasing rate, reflecting the currently stressed state of equity markets.

Ian Buchhorn Managing Director

The information in this report that relates to Exploration is based on information compiled by David von Perger who is a Member of the Australasian Institute of Mining and Metallurgy. David von Perger is a full time employee of Heron Resources Limited and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the exploration activity that is being 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”. David von Perger has consented to the inclusion in th is report of the matters based on his information in the form and context that it appears.

Table 1 Significant RAB drilling intersections Siberia South Gold Project

Hole No MGA51-E MGA51-N From metre

To metre

Width metre

Gold Grade ppm

OBRB11 304320 6644550 8 16 8 0.52

OBRB55 305600 6646000 16 20 4 0.36

OBRB56 305600 6646020 4 8 4 1.41

OBRB67 305594 6645996 12 16 4 0.49

OBRB68 304328 6644534 16 23 7 1.01

OBRB86 304270 6644560 13 18 5 0.39

OBRB87 304263 6644539 24 32 8 0.26

35 36 1 0.13

OBRB89 304296 6644540 12 16 4 0.12

24 28 4 0.23

OBRB91 304318 6644559 0 3 3 0.25

OBRB92 including

304321 6644544 8

12 16 16

8 4

1.90 3.68

OBRB95 304344 6644539 8 16 8 1.33

OBRB96 including

304341 6644522 24 29

36 31

12 2

0.49 1.87

OBRB100 304263 6644544 20 24 4 0.28

28 32 4 0.27

OBRB104 305641 6646004 16 20 4 0.16

Notes: 1) Widths are downhole widths and may not reflect the true width of the mineralisation. 2) The drilling was sampled on a combination of 1 metre and 4 metre intervals. 3) Drill samples have been assayed with aqua-regia digestion of pulped sample and ICP gold determination with 1ppb lower

limit of detection. 4) Quality control samples were inserted into the batches and showed acceptable precision and accuracy.