Dividend Update

17 August 2010

Polo Resources Limited

("Polo Resources", "Polo" or "the Company")

Dividend Update

Polo Resources Limited (AIM and TSX: POL) reminds its shareholders that, following the declaration of a dividend on 5 August 2010, the ex dividend date has been set for tomorrow, 18 August 2010, the dividend record date has been set for this Friday, 20 August 2010, and the payment date has been set for 27 August 2010.

On the payment date, Polo will despatch a cheque to shareholders registered at the record date in satisfaction of payment of the whole dividend amount of 3 pence (or CDN$ 0.0484 for those shareholders registered on the Canadian register) per ordinary share of no par value in the Company. The dividend of 3 pence (or CDN$ 0.0484) per ordinary share will be paid in full without deduction of tax.

Contacts:

Polo Resources Limited

Gary Good

Chief Financial Officer

+ 27 82 404 36 37

Canaccord Genuity Limited

Ryan Gaffney / Bhavesh Patel

+ 44 (0) 20 7050 6500

Toronto

James McVicar

Heenan Blaikie LLP

+1 416 643 6903

Financial Dynamics

Ben Brewerton / Ed Westropp

+ 44 (0) 20 7831 3113

About the Company

Polo Resources is a natural resources investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. The Company will primarily invest in companies with producing assets and/or resources and reserves that have been verified under internationally recognised reporting standards. For complete details on Polo Resources: www.poloresources.com.

CAUTIONARY STATEMENT

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.

Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.