Bezant Resources PLC Regulatory News (BZT)

8 October 2012

Bezant Resources Plc

("Bezant" or the "Company")

Update re Eureka Copper/Gold Project, Argentina

Highlights:

·; Copper-gold mineralised strata and lenses successfully identified following completion of a Vertical Electrical Sounding ("VES") survey programme

·; Increase in the thickness of copper mineralisation identified, south to north (Eureka North Area)

·; Exploration methodology developed for further planned exploration work up to a depth of 30 metres

·; Environmental Impact Study ("EIS") and Environmental Baseline Study continue under review by the local Government authorities

Bezant (AIM: BZT), the AIM listed gold and copper exploration and development company operating in the Philippines and Argentina, is pleased to provide an operational update in respect of its wholly owned Eureka Project, located in the Jujuy Province of north-west Argentina.

The Eureka Project comprises a package of 5,500 hectares of copper and gold mining and exploration licences. Bezant is applying modern exploration technologies to an area of mineralisation identified within 30 metres of the surface, as the Company believes the project has development potential for economically viable near-surface production.

Results of VES survey programme

Over 2,800m of vertical electrical sounding, using a Schlumberger array, has been carried out by ITAGH Consulting Group at both known outcrops of mineralisation and also alongside new exploration trenches across the Eureka I Mine tenement area. This work forms a key foundation to the development of a maiden JORC compliant resource estimate for the project by identifying horizons of copper mineralization, as a better understanding of geological structures is established.

Interpretation of geophysics:

·; Increase in the thickness of mineralised copper layers from the south (around 35 metres) to the north (>60 metres) - Eureka North Area;

·; Identification of mineralised paleochannels (ancient inactive and buried channels) trending SSE/NNW; and

·; Mineralised lenses appear to increase in thickness along a SSE/NNW direction. The direction appears to be related to a regional reverse fault with the same orientation.

The survey programme also enabled Bezant to test and develop a future methodology to survey mineralised strata and their boundaries up to depths of approximately 30 metres from the surface. Further structural exploration is currently planned for the Eureka project.

Environmental Studies

The EIS and the Environmental Baseline Study currently remain under review by the Mining Judge of the Province of Jujuy, the Director of Mines and Energy Resources and the Director of Environmental Policies for Natural Resources. Once the reports have received official approval, the Company will be permitted to start the main phase of its exploration work programme.

Gerry Nealon, Executive Chairman of Bezant commented:

"Completion of this first stage of exploration activity has further identified the presence of near-surface, copper/gold mineralisation. Eureka has the potential for valuable near-surface copper-gold production with limited development expenditure requirements and excellent nearby infrastructure hubs.

We will continue to evaluate the Eureka project area with an appropriate exploration spend pending feedback on the environmental studies. Following the granting of approvals we shall commence with the generation of a maiden JORC compliant resource estimate for this exciting project."

Dr Bernard Olivier has reviewed and approved the technical information contained within this announcement in his capacity as a qualified person, as required under the AIM rules. Dr Olivier is CEO of the Company and a Member of the Australasian Institute of Mining and Metallurgy.

For further information, please contact:

Notes to editors:

Eureka Project

The 11 licences comprising the Eureka Project are located in north-west Jujuy near to the Argentine border with Bolivia and are formally known as Mina Eureka, Mina Eureka II, Mina Gino I, Mina Gino II, Mina Mason I, Mina Mason II, Mina Julio I, Mina Julio II, Mina Paul I and Mina Paul II, covering, in aggregate, an area in excess of approximately 5,500 hectares and accessible via a series of gravel roads. To date, no JORC compliant or equivalent resource estimate has been established, but historic exploration activities have been conducted on the project area since the 1980s by Minera Penoles, Codelco and Mantos Blancos, with unaudited unclassified estimates in the order of, in aggregate, up to approximately 62 million tonnes grading at 1% copper and approximately 52,000 ounces of gold as credits. The copper oxide mineralisation occurs in loosely consolidated conglomerates and is the focus of the project's economic potential. The near surface mineralisation is amenable to heap leaching, while the carbonate content of the conglomerate is reported to be low, thereby reducing potential acid consumption.

Copper-Gold Exploration Track Record

In 2007, Bezant acquired the little known Mankayan copper-gold target in the Philippines for approximately 5.5 million shares and US$500,000 cash. Over a period of approximately three years the Company proved up JORC Compliant Probable Ore Reserves of 189 million tonnes grading at 0.46% copper and 0.49g/t gold, resulting in total Recoverable Metal Reserves of 811,000 tonnes of copper and 2.21 million ounces of gold for an exploration cost of approximately US$5 million. On 26 October 2011 the grant of an option to Gold Fields Netherlands Services BV for the potential sale of the Mankayan Project for US$63 million in addition to an upfront Option fee of US$7 million was ratified by the Company's shareholders. Bezant intends to return a significant amount of cash to its shareholders in due course in addition to progressing its near surface "Eureka" copper-gold project in Argentina.