Further re Proposed Placing

15th May 2009 12:03

15 May 2009

KRYSO RESOURCES PLC ("Kryso" or the "Company") Further re Proposed Placing to Vertex Mining International (Cyprus) Limited

The Company announced, on 16 February 2009, that it had obtained financing of £ 500,000 at the equivalent of 5.5p per share through a mandatorily convertible loan ("Convertible Loan"). On 11 March 2009 the Company announced a proposed Placing of new ordinary shares at 8.78 pence per share to raise gross proceeds of approximately £2.56 million, pursuant to the conditional subscription agreement (the "Subscription Agreement") entered into with Vertex Mining International (Cyprus) Limited ("Vertex"). A general meeting of the Shareholders was convened on 13 May 2009 to consider certain resolutions, the passing of all of which was a condition of the Subscription Agreement.

At the general meeting, all resolutions were passed with the exception of resolution 6 (a Special Resolution to amend the Articles of Association). Vertex has the right to waive the passing of all the resolutions put to the general meeting as a condition of the completion of the Placing. Discussions between Kryso and Vertex are ongoing and a further announcement will be made as soon as possible.

A total of 9,090,909 shares have today been admitted to trading on AIM, pursuant to the automatic conversion of the Convertible Loan. The total share capital of the Company is therefore 98,338,194 shares and Vertex's holding represents 9.24% of the issued share capital.

Terms defined in the circular to shareholders dated 21 April 2009 in relation, inter alia, to the Placing have the same meaning in this announcement.

For further information please contact:

Vassilios CarellasManaging DirectorKryso Resources plcTelephone: 020 7371 0600Mobile: 07970 756352Roxane Marffy/Brett MillerRuegg & Co LimitedNominated AdviserTel: 020 7584 3663 6318188-1

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