Placing and Appointment of Broker

26 June 2015

W Resources Plc

("W" or the "Company")

Placing to Raise £1.2m and Appointment of Broker

W Resources Plc (AIM:WRES), a tungsten, copper and gold mining, exploration, development and production company has completed a placement of 399,999,996 ordinary shares of 0.1p per share ("Ordinary Shares") at 0.30p per Ordinary Share to raise approximately £1,200,000 million (the "Placing"), before expenses.

Application has been made for the new Ordinary Shares being issued in connection with the Placing to be admitted to trading on AIM which is expected to occur on or around 2 July 2015. The funds raised will be used to progress development at the 100% owned La Parrilla Fast Track Mine (FTM) including the environmental approval and for general working capital purposes as management works to finalise the funding to bring the FTM into production in late 2016. 

Related Party Transaction

The placees include Symmall Pty Limited as trustee of the Masterman Superannuation Fund of which Mr. Michael Masterman (a director of the Company) is both a beneficiary and trustee, which has subscribed for 46,666,666 Ordinary Shares amounting to £140,000 and Beronia Investments Pty Ltd ATF Duke Trust of which Dr. Byron Pirola (a director of the Company) is both a beneficiary and trustee, who has subscribed for 53,333,333 Ordinary Shares amounting to £160,000.

The participation in the Placing of Mr. Masterman and Dr. Pirola falls to be treated as a related party transaction under AIM Rule 13. The independent director, being Mr. David Garland, having consulted with Grant Thornton UK LLP (the Company's nominated adviser), confirms that he is satisfied that the terms of Mr. Masterman and Dr. Pirola's participation in the Placing are fair and reasonable insofar as the Company's shareholders are concerned.

Following the issue of all new Ordinary Shares, the Company will have 3,573,937,497 Ordinary Shares in issue and:

- Mr. Michael Masterman (and related parties) will be interested in 917,215,836 Ordinary Shares in the Company, representing an interest of 25.66 per cent in the total voting rights; and

- Dr. Byron Pirola (and related parties) will be interested in 250,209,748 Ordinary Shares in the Company, representing an interest of 7.00 per cent in the total voting rights.

Following admission of the new Ordinary Shares, the Company's enlarged issued share capital will comprise 3,573,937,497 Ordinary Shares with voting rights. This figure of 3,573,937,497 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

Broker Appointment

The Board is also pleased to announce the appointment of Northland Capital Partners Limited as joint broker to the Company with immediate effect.

Enquiries:

About W

In 2012, W Resources Plc (AIM:WRES) made the successful transition into a tungsten production exploration and development company with projects in Spain and Portugal, following two acquisitions. Projects now include La Parrilla, a tungsten project in Spain and Régua and Tarouca Tungsten projects and the Portalegre copper-gold project in Portugal.

The Company's deposits and tungsten mine developments offer a low cost, high margin resource development opportunity due to a strong market following for Tungsten, increased trading and a forecast shortage of supply.

The Board is focused to explore further opportunities in the region with a view to building a mid-tier minor metal producer.

The Company was incorporated in England and Wales in 2004.