Cancellation of Equity

Praetorian Resources Limited

("Praetorian Resources" or the "Company")

Cancellation of Equity

Praetorian Resources (AIM: PRAE; PRSS) announces that on 22 November 2012, the board of directors approved the cancellation of 238,000 ordinary shares and 119,000 subscription shares in the Company (the "Cancellation").

The Cancellation was as a result of a holder of shares in Equatorial Palm Oil plc not meeting its obligations under a share exchange agreement to provide the Company with 850,000 shares in Equatorial Palm Oil plc.

Following the Cancellation, the ordinary share capital of the Company consists of 50,093,901 ordinary shares, with each ordinary share carrying the right to one vote. The Company does not hold any shares in treasury. The Company also now has in issue 23,205,443 subscription shares which carry voting rights only in limited circumstances.

The figure of 50,093,901 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change of interest in, the Company under the Disclosure and Transparency Rules. Shareholders are not required to notify their interest in, or a change to their interest in, subscription shares under the Disclosure and Transparency Rules.

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