Ironstone Resources - Investment Update

1 December 2015

Polo Resources Limited

 ("Polo" or the "Company")

IRONSTONE RESOURCES - INVESTMENT UPDATE

Polo Resources Limited (AIM: POL), the natural resources investment company with interests in gold, oil and gas, coal, iron ore, copper and phosphate, is pleased to announce that following a rights issue by investee company Ironstone Resources Ltd. ("Ironstone") to raise C$1.04 million, Polo has been informed that its interest in Ironstone has increased to 18.8 per cent following an additional investment by Polo of C$101,000 and the operation of a price protection mechanism for certain early stage investors in Ironstone.

Ironstone is applying the rights issue proceeds towards reduction of debt and in completing the funding of an SRK Consulting Preliminary Economic Assessment, on its Clear Hills Iron/Vanadium project in Alberta, Canada, which is expected to be completed in Q4 2015. Given the material fall in iron ore prices, the Company expects a write down of its Ironstone investment of US$6.63 million.

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About the Company

Polo Resources Limited 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, please refer to: www.poloresources.com.