Subscription of Convertible Loan Notes

25 October 2013

Plutus Resources plc

('Plutus' or the 'Company')

Subscription for convertible loan notes to raise up to £137,000 for the Company

The Board of Plutus (AIM:PLR), the AIM listed natural resources investing company, is pleased to announce that the Company is raising up to £137,000 (before expenses) through a subscription of £137,000 of unsecured convertible loan notes of £1 each (the "Convertible Loan Notes") by existing shareholders and new investors (the "Subscription"). As of today the Company has received £122,000 from investors and has signed subscription letters in place from investors for the balance of £15,000. The balance of funds are expected to be received by the Company by 31 October 2013. The net proceeds of the Subscription will strengthen the Company's balance sheet and provide working capital for the Company to investigate acquisition and investment opportunities in accordance with the Company's investing policy.

The term of the Convertible Loan Notes is 18 months from the date of issue, this being 23 October 2013. The Convertible Loan Notes will be able to be converted into new ordinary shares of 0.1 pence each in Plutus (the "Conversion Shares") at any time up to maturity at a price of 0.5 pence per share (the "Conversion Price"). The Conversion Price represents a discount of 60.0 per cent. to the closing mid-market price of 1.25 pence on 24 October 2013.

The Convertible Loan Notes will be convertible at the sole option of the noteholder. Interest on the Convertible Loan Notes will accrue at the rate of 10 per cent. per annum, payable quarterly in arrears. The Convertible Loan Notes will be repayable on the maturity date (subject to any conversion rights being exercised during the term of the Convertible Loan Notes). No application will be made to any listing authority, stock exchange or other market for the Convertible Loan Notes to be listed or otherwise traded.

Assuming that the full proceeds of the Subscription are received by the Company and that the Convertible Loan Notes are converted in full, the 27,400,000 new Conversion Shares arising on such conversion would represent 16.0 per cent. of the enlarged issued share capital of Plutus (as enlarged by the issue of the Conversion Shares and assuming that no other new ordinary shares are issued pursuant to any other outstanding convertible loan notes and/or share options).

Further announcements will be made as appropriate.

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