Share Buyback

21 September 2011

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

Share Buyback

Polo Resources Limited (AIM and TSX: POL) announces that the Board of Directors has resolved to renew its share buy-back programme established in 2010. The Directors will have the discretion, subject to any legal or regulatory requirements, to buy back up to 10 per cent. of the Company's issued shares over the next twelve months where the price at which the Company's shares trades is at a significant discount to the Company's net asset value. It is the intention that any shares bought back will be cancelled.

Contacts:

Polo Resources Limited

Ian Burns, Finance Director

+ 27 82 404 36 37

Evolution Securities

Matthew Tyler, Romil Patel, Jeremy Ellis

+44 (0) 20 7071 4300

Liberum Capital

Chris Bowman, Tim Graham

+44 (0) 20 3100 2228

Toronto

James McVicar

Heenan Blaikie LLP

+1 416 643 6903

Blythe Weigh Communications

Tim Blythe

Ana Ribeiro

Matthew Neal

+44 (0) 20 7 138 3204

About the Company

Polo Resources is a natural resources investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For complete details on Polo Resources: www.poloresources.com.

CAUTIONARY STATEMENT

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.

Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.