WRES.L Regulatory News (WRES)

8 November 2012

W Resources Plc

("W" or the "Company")

W Completes Placing

W Resources Plc (AIM:WRES), formerly Caspian Holdings Plc, a tungsten and gold exploration and development company with assets in Spain and Portugal announces that it has completed a placing of 194,734,613 ordinary shares of 0.1p per share ("Ordinary Shares") at 0.325p per Ordinary Share to raise approximately £633,000 (the "Placing"). The net proceeds from the Placing will be used to progress the Company's tungsten and gold drilling programmes and for general working capital purposes.

Application will be made for the new Ordinary Shares being issued in connection with the Placing to be admitted to trading on AIM which is expected to occur on 22 November 2012.

Related Party Transaction

The placees include Mr. Michael Garland (a director of the Company), who has subscribed for 30,769,230 Ordinary Shares amounting to £100,000, and Dr. Byron Pirola (a director of the Company), who has subscribed for 15,384,615 Ordinary Shares amounting to £50,000. The participation in the Placing of Mr. Garland and Dr. Pirola falls to be treated as a related party transaction under AIM Rule 13. The independent director, being Mr Michael Masterman, having consulted with Grant Thornton Corporate Finance (the Company's nominated adviser), confirms that he is satisfied that the terms of Mr. Garland's and Dr. Pirola's participation in the Placing are fair and reasonable insofar as the shareholders of the Company are concerned.

Following the issue of all new Ordinary Shares, the Company will have 1,581,922,193 Ordinary Shares in issue and:

- Mr. Michael Garland will be interested in 74,902,563 Ordinary Shares in the Company, representing an interest of 4.73 per cent in the total voting rights; and

- Dr. Byron Pirola (and related parties) will be interested in 127,459,749 Ordinary Shares in the Company, representing an interest of 8.06 per cent in the total voting rights.

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