Result of AGM

Caspian Holdings Plc

22 June 2012

Caspian Holdings Plc

("Caspian" or the "Company")

Result of Annual General Meeting

Caspian Holdings announces that, at the Annual General Meeting of the Company held earlier today, all resolutions put to shareholders were passed.

The Company now proposes to acquire the entire issued share capital of Australian Iron Ore ("AIO") for a consideration amounting to €1million (the "Consideration") to be satisfied by the issue of 269,300,000 Ordinary Shares at 0.30p per Ordinary Share.

AIO is a company incorporated in England and Wales with assets in Portugal held through its 100% subsidiary Iberian Resources Portugal Recursos Minerais Unipessoal LDA ("IRP"). IRP is a private company involved in gold and tungsten, exploration and development that consists of two tungsten and three mining assets;

·; Régua - a tungsten exploration permit covering the Régua Tungsten Deposit

·; Tarouca - an exploration licence in the municipality of the town of Tarouca which covers several tungsten and/or tin deposits and prospects.

·; Portalegre - a gold exploration licence of the São Martinho gold prospect and Crato-Assumar-Arronches gold prospect

In addition, the resolution to change the Company's name to "W Resources Plc" was also passed. A further announcement will be made by the Company once the change of name becomes effective.

Further information regarding the resolutions is available on the website http://www.caspianoil.co.uk/

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