Result of General Meeting and Open Offer

For Immediate release: 11 July 2012

Creon Resources plc

("Creon" or "the Company")

Result of General Meeting and Open Offer

General Meeting

The Board of Creon Resources plc (AIM: CRO.L) is pleased to announce that, following the general meeting of shareholders of the Company held earlier today, all the proposed resolutions have been duly passed.

Open Offer

Following the closure of the conditional underwritten Open Offer and Subscription announced on 22 June 2012 (the "Open Offer and Subscription" ), the Board is delighted to report that the Company has raised the maximum possible amount of £12.08 million through the issue of 2,416,429,088 New Ordinary Shares of 0.1p each at a price of 0.5p per share.

Application for the admission of the 2,416,429,088 New Ordinary Shares to trading on the AIM market of the London Stock Exchange ("Admission") has been sought and Admission is expected to occur on 12 July 2012. Following Admission, the Company's ordinary share capital will comprise 2,738,619,633 ordinary shares of 0.1p each ("Ordinary Shares").

Shareholders

The Company is aware of the following significant shareholdings in the Company following completion of the Open Offer and Subscription:

Consolidated Statement of Financial Position of Creon

Immediately following completion of the Open Offer and Subscription and Admission, the Company's consolidated financial position will be as set out below:

Update on Potential Investment

The Company also wishes to update the market on the status of negotiations regarding the potential joint venture investment in the oil and gas infrastructure sector as referred to in the circular to shareholders dated 22 June 2012. Negotiations have reached an advanced stage but there is still no formal commitment by any party and there is no certainty that this investment will take place. The Company will issue further updates in due course.

Jeswant Natarajan, CEO of the Company, stated:

"I am very pleased with the strong support from shareholders under the Open Offer and Subscription and am delighted to welcome Qatar Investment Corporation as a shareholder. The proceeds of the Open Offer and Subscription will allow the Company to implement its investment policy and to begin the process of creating value for the shareholders of the Company. We are in advanced discussions on one potential investment and expect to be able to update shareholders in due course."

Further information please contact:

Note to Editors:

The Company's Investment Policy is to invest principally, but not exclusively in the resources and/or resources infrastructure sectors, with no specific national or regional focus. The Company may be either an active investor and acquire control of a single company or it may acquire non-controlling shareholdings.

The proposed investments to be made by the Company may be either quoted or unquoted; made by direct acquisition or through farm-ins; may be in companies, partnerships, joint ventures; or direct interests in resources projects. Target investments will generally be involved in projects in the exploration and/or development stage. The Company's equity interest in a proposed investment may range from a minority position to 100 per cent. ownership.

The Company will initially focus on projects located in the Middle East and Asia but will also consider investments in other geographical regions.

The Company will identify and assess potential investment targets and where it believes further investigation is required, intends to appoint appropriately qualified advisers to assist.

The Company proposes to carry out a project review process in which all material aspects of any potential investment will be subject to due diligence, as appropriate. It is likely that the Company's financial resources will be invested in a small number of projects or potentially in just one investment which may be deemed to be a reverse takeover under the AIM Rules.

Where this is the case, it is intended to mitigate risk by undertaking an appropriate due diligence process. Any transaction constituting a reverse takeover under the AIM Rules will require Shareholder approval. The possibility of building a broader portfolio of investment assets has not, however, been excluded.

The Company intends to deliver shareholder returns principally through capital growth rather than capital distribution via dividends. Given the nature of the Company's Investing Policy, the Company does not intend to make regular periodic disclosures or calculations of net asset value.