POL.L Regulatory News (POL)

18 August 2010

Polo Resources Limited

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

Statement re Letter to Shareholders

Further to the announcements on 5 August 2010 and 17 August 2010, Polo Resources Limited (AIM and TSX: POL) is pleased to announce that it has today, in accordance with its articles of association, posted a written notice to shareholders that the payment of a special dividend of 3p (gross) per issued share of no par value in the Company has been approved by the Board.

The full text of the circular has been appended to this announcement. Copies of the written notice are also available free of charge from the Company's Registered Office at Craigmuir Chambers, Road Town, Tortola, British Virgin Islands VG 1110, and on the Company's website at www.poloresources.com.

Contacts:

Polo Resources Limited

Gary Good

Chief Financial Officer

+ 27 82 404 36 37

Canaccord Genuity Limited

Ryan Gaffney / Bhavesh Patel

+ 44 (0) 20 7050 6500

Toronto

James McVicar

Heenan Blaikie LLP

+1 416 643 6903

Financial Dynamics

Ben Brewerton / Ed Westropp

+ 44 (0) 20 7831 3113

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. The Company will primarily invest in companies with producing assets and/or resources and reserves that have been verified under internationally recognised reporting standards. 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.

Craigmuir Chambers Road Town, Tortola British Virgin Islands VG 1110

18 August 2010

Dear Shareholder

Declaration of dividend

In accordance with Regulation 18.3 of the Company's Articles of Association, the Company hereby gives you notice that the payment of a special dividend of 3p (gross) per issued share of no par value in the Company has been approved by the Board (the "Dividend").

Timetable

Settlement

On the payment date, Polo will despatch a cheque to shareholders registered at the Dividend record date in satisfaction of payment of the whole dividend amount of 3p per ordinary share of no par value in the Company.

All such cash payments will be made in pounds sterling by cheque drawn on a town branch of a UK clearing bank.

Tax

The dividend is paid without deduction of tax. Individual ordinary shareholders may be liable to tax on the dividend received and in certain circumstances a tax credit may arise. Corporate ordinary shareholders should carefully assess their tax position based upon their own circumstances. IF YOU ARE IN ANY DOUBT IN RESPECT OF THE TAX TREATMENT OF THIS DIVIDEND PLEASE REFER TO YOUR PROFESSIONAL TAX ADVISER OR CONTACT YOUR LOCAL TAX OFFICE.

Further action

No further action is required by any shareholder.

Yours sincerely,

Neil Herbert

Executive Co-Chairman