Oxley Resources Limited ("Oxley Resources") was incorporated for the purposes of acquiring and exploring a tenement at Cooma South in southern New South Wales, situated between Sydney and Albury. Oxley Resources intends to use funds raised via seed capital and through a planned IPO on either the ASX or NSX to carry out the following exploration work on the Company's tenement -

• Data review and ground follow-up.
• Drilling

Since the commencement of work on the project by a previous explorer certain key changes have occurred, including:

• improvement in exploration technology
• increase in metal prices, particularly gold
• improved heat metallurgical technology
• capital markets.

Oxley Resources plans to take advantage of the above changes and to advance the Cooma South Project.

In addition to the exploration and development of the Cooma South Project, surplus funds raised by Oxley Resources will be retained by the Board (after meeting it's corporate and administrative obligations and expenses under the Listing Rules) for working capital purposes, to investigate the acquisition of further tenements and also for other investments in the resources sector generally.

Oxley Resources Limited
ABN 16 129 777 260