Issue of Equity

Praetorian Resources Limited ("Praetorian Resources" or the "Company")

Issue of New Ordinary Shares on Conversion of Subscription Shares

Praetorian Resources announces that the Company has issued 50 (fifty) new ordinary shares of no par value (the "New Shares") pursuant to a conversion notice received from a holder of the Company's subscription shares. The Company's subscription shares are each convertible into ordinary shares at any time before 31 July 2015 at a price of 70 pence per ordinary share.

Application has been made for the New Shares to be admitted to trading on AIM and for the cancellation of 50 (fifty) subscription shares from AIM. It is anticipated that this will become effective on or around 9 August 2013.

Following the issue of the New Shares the Company will have in issue 50,093,951 ordinary shares of which 1,000,000 ordinary shares are, held in treasury.

The total number of voting rights in the Company is 49,093,951 with each ordinary share carrying the right to one vote. This figure may be used by shareholders as the denominator to one vote. The figure 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 to their interest in the Company under the Disclosure and Transparency Rules.

Following the issue of the New Shares the Company has in issue 23,205,393 subscription shares which carry voting rights only in limited circumstances. 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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