WRES.L Regulatory News (WRES)

26 September 2013

W Resources Plc

("W" or "the Company")

Interim Results for the Six Months Ended 30 June 2013

W Resources Plc (AIM:WRES), the Spain and Portugal focused tungsten and gold exploration and development company, announces its interim results for the six months to 30 June 2013.

Highlights

La Parrilla Tailings Deposit, Spain

· Construction of the tailings processing facilities commenced in May 2013 and is progressing on budget and on schedule with first production anticipated in December.

· Annual production is anticipated to be 28,000 MTU Tungsten Trioxide (WO3) and 26 tonnes Tin (Sn); providing an expected annual revenue of more than €7 million per annum at current tungsten and tin prices.

La Parrilla Mine Project, Spain

· Golder Associates Pty Ltd increased the Inferred Resource by 30% to 46.92Mt at 0.09% WO3 for contained metal of 39,882 tonnes WO3.

· On 30 August 2013, W took ownership of the La Parrilla Mining concessions for a consideration of €900,000 paid out of existing cash resources.

· Decision to move to full title ownership taken following the successful La Parrilla extension drilling programme and initial evaluation of the mine and its development potential.

Régua, Tarouca & Portalegre, Portugal.

· Régua - Golder Associates completed a Conceptual Mine study for the deposit. W has applied for a three-year Trial Mining Licence, with approval expected in Q4 2013.

· Tarouca - Detailed mapping and sampling of old workings, mineral occurrences and mineralised outcrops, and trenching is underway.

· Portalegre Gold Project - Extended stream & sediment soil sampling was carried out and W has received encouraging results which confirmed gold mineralisation of previous exploration work performed, and identified potential gold anomalies in other zones of the exploration area. 1,000 metres of trenching are planned, along with a 500 metre drilling programme in 2014.

Finance

· Four capital placements totalling £3.3 million, inclusive of the July 2013 placing.

Michael Masterman, Chairman of W commented: "Having taken ownership of the La Parrilla Mine on 30 August 2013, our focus is now the development of this major tungsten mine. In addition to bring the tailings project into production later this year, we will also aim to further advance the exploration projects in Portugal."

Enquiries:

About W

In 2012, W Resources Plc (AIM:WRES) made the successful transition into a tungsten exploration and development company with projects in Spain and Portugal, following two acquisitions. Projects now include La Parrilla, a tungsten project in Spain and Régua and Tarouca Tungsten projects and the Portalegre gold project in Portugal.

The most advanced is the La Parrilla tungsten mine and tailings project in the Southwest of Spain, at which first production is expected later in the year.

The Company's deposits and tungsten mine developments offer a low cost, high margin resource development opportunity due to a strong market following for Tungsten, increased trading and a forecast shortage of supply. The price of tungsten has more than doubled in past three years and is in the top 5 critical metals list.

The Board is focused to explore further opportunities in the region with a view to building a mid-tier minor metal producer.

The Company was incorporated in England and Wales in 2004.

CHAIRMANS STATEMENT

The first six months of 2013 was highly successful for W Resources Plc (W or the Company) with solid progress at the La Parrilla project in southwest Spain, as well as the ongoing evaluation and development of the Company's exploration projects in Portugal.

SPAIN

La Parrilla Tailings Deposit

The Mining Department of the Regional Authority of the Junta de Extremadura awarded the final approval on 22 January 2013 enabling W Resources to move ahead to treat the coarse tailings at the La Parrilla project.

Construction of the tailings processing facilities commenced in May 2013 and is progressing on budget and on schedule with the pre concentration plant expected to be complete in October 2013 and the full facility to be up and running in December. Annual plant feed is expected to be 330,000 tonnes and annual production is anticipated to be 28,000 MTU Tungsten Trioxide (WO3) and 26 tonnes Tin (Sn); providing an expected annual revenue of more than €7 million per annum at current tungsten and tin prices.

La Parrilla Mine Project

In June 2013, Golder Associates Pty Ltd increased the Australasian Joint Ore Reserves Committee (JORC) Inferred Resource of La Parrilla mine by 30% to 46.92Mt at 0.09% WO3 for contained metal of 39,882 tonnes WO3. In addition, the resource includes 0.009% Sn for contained metal of 4,270 tonnes Sn.

On 30 August 2013 the Company took ownership of the La Parrilla Mining concessions in southwest Spain.

Following agreement with the mine owners, full title of the La Parrilla mine was transferred to the Company for a consideration of €900,000 in accordance with the existing option agreement. The Company paid this consideration out of existing cash resources.

Subsequent to the initial payment, the Company will make a further phased payments of €1.3 million in Q3 2014 and of €500,000 in Q3 2015. It is intended that these payments will be funded from the cashflows from La Parrilla tailings production.

The decision to move to full title ownership was taken by W following the successful La Parrilla extension drilling programme and initial evaluation of the mine and its development potential.

PORTUGAL

Régua

Located 400km north of Lisbon, the project has a JORC compliant resource estimate of 4.46 million tonnes grading 0.308% WO3 at a cut-off of 0.10% WO3. The deposit has not been previously mined and is located close to infrastructure with good road access.

On the strength of this significant resource estimate, Golder Associates has completed a Conceptual Mine study for the deposit. The five year exploration licence expired on 24 May 2013, and the Company has applied for a three-year Trial Mining Licence, with approval from the Portuguese Department of Geology and Energy expected in Q4 2013.

Tarouca

The Tarouca exploration licence was awarded to Iberian Resources Portugal (IRP) on 23 March 2012. The licence covers former tungsten and tin mines located 140 km East of Porto.

Initial results from 98 surface samples (from outcrops and old mine works), obtained in March 2013 showed some extremely high-grade results with heavy mineralisation. 31% of the samples have a grade higher than 0.1% WO3 and more than 8% of the total samples assayed have more than 1% WO3.

Overall there are three mineralised trends with their extensions yet to be determined. The next phase of the programme, consisting of detailed mapping and sampling of old workings, mineral occurrences and mineralised outcrops, and trenching is underway.

Portalegre

At the Company's São Martinho gold exploration project, 200km east of Lisbon, a reverse circulation drilling programme was carried out in 2012 with 18 holes drilled for a total of 1,600 metres. The initial results are very encouraging, with intersecting gold grades above 1 gramme per tonne at shallow depths, which indicates the potential for an open pit deposit close to surface.

The Crato Assumar Arronches exploration project, which surrounds the São Martinho area was awarded to IRP on 23 March 2012. Detailed mapping of this area was completed in 2012. In H1 2013 extended stream & sediment soil sampling was carried out and W has received encouraging results which confirmed gold mineralisation identified by previous exploration work, and identified potential gold anomalies in other zones of the exploration area. 1,000 metres of trenching are planned, along with a 500 metre drilling programme in 2014.

The São Martinho gold exploration licence expired on 11 May 2013, and the Company has applied for the combination of this exploration licence into the Crato Assumar Arronches exploration project. Approval of this is expected in Q4 2013.

Finance

During 2013, W has completed four capital placements totalling £3.3 million, inclusive of the July 2013 placing. The funds raised were used as working capital, to finance the construction of the La Parrilla tailings processing facilities and to fund the first phased payment for the La Parrilla Mining title.

The Company recorded a loss after taxation of £131,955 in the six months to 30 June 2013, compared to £146,431 in the six months to 30 June 2012.

Outlook

Having taken ownership of the La Parrilla Mine on 30 August 2013, our focus is now the development of what we believe will be a major tungsten mine. In addition to bringing the tailings project into production later this year, we will also aim to further advance the exploration projects in Portugal.

________________________

Michael Masterman

Chairman

W Resources Plc

26 September 2013

W RESOURCES Plc

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED 30 JUNE 2013

W RESOURCES Plc

GROUP FINANCIAL POSITION

30 JUNE 2013

W RESOURCES Plc

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE SIX MONTHS ENDED 30 JUNE 2013

W RESOURCES Plc

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED 30 JUNE 2013

W RESOURCES Plc

NOTES TO THE INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2013

1. BASIS OF PREPARATION

The financial statements have been prepared under the historical cost convention.

As an AIM listed the Company the company is entitled to exemption from adopting IAS 34 and this exemption has been taken.

The financial statements have been prepared using the accounting policies used in the audited Financial Statements for the year ended 31 December 2012, and which will continue to be used for the financial statements for the year ended 31 December 2013.

The interim results are unaudited. The financial statements herein do not amount to full statutory accounts within the meaning of Part 15 of the Companies Act 2006.

These financial statements were approved on 26 September 2013.

Going Concern

The Directors are satisfied that the group has sufficient resources to continue its operations and to meet its commitments in the foreseeable future. The financial statements have therefore been prepared on the going concern basis.

Directors Responsibilities

The Directors are responsible for preparing the Interim Review and the Financial Statements in accordance with applicable law and regulations. The Directors have elected to prepare the Financial Statements in accordance with International Financial Reporting Standards as adapted for use in the European Union.

In preparing these financial statements, the Directors are required to:-

- select suitable accounting policies and apply them consistently

- make judgements and accounting estimates that are reasonable and prudent

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company

will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's and the Group's transactions and disclose with reasonable accuracy at anytime the financial position of the Company and the Group.

W RESOURCES Plc

NOTES TO THE INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2013 (CONT'D)

2. INCOME TAX

There is no income tax arising on the loss on ordinary activities for the six months ended 30 June 2013.

3. LOSS PER ORDINARY SHARE

Basic and Diluted Loss Per Share

4. EVENTS AFTER THE REPORTING PERIOD

A further placement was made in July 2013 of £1m.