Palace Resources Limited

Padang Resources (ASX:PXR) is pleased to announce that it has commenced its drilling program at the Paser Project in East Kalimantan. The initial ten (10) hole drill program ("drill program") is designed to confirm coal quality, depth, thickness and spread of coal seams below surface.

The Annual General Meeting of Padang Resources Limited (ASX:PXR) will be held at Suite 4 16 Ord St West Perth WA 6005 on Tuesday 27 November 2012 at 10:30 AM (WST).

Padang Resources Limited (ASX:PXR) Annual Report to shareholders

Padang Resources (ASX:PXR) is pleased to announce that it has completed an extensive sampling program across the 43 ha location and submitted approximately 150kg of coal samples to a laboratory in Samarinda for coal quality and processing analysis.

Padang Resources Limited (ASX:PXR) is pleased to provide the Company Full Year Statutory Accounts and additional Shareholders info for the year ended 30 June 2012. Padang's goals are to create a sustainable exploration and development business focussed on resource opportunities in the Indonesian resource rich region. Padang has a strong management team which has a track record of acquiring and developing mineral projects, Asia Pacific region.

Padang Resources Limited (ASX:PXR) is pleased to announce that it has received Shareholder approval to proceed with the acquisition of a 70% interest in the Paser Project, East Kalimantan and will now move to settlement.

The Board of Directors of Padang Resources Limited (ASX:PXR) are very pleased to announce the appointment of Mr Peter Woods OAM as a non-executive director and chairman of the Company. Outgoing former chairman, Guy Le Page, will remain on the board as a non-executive director.

Padang Resources Limited (ASX:PXR) is pleased to announce that it has received an independent report on the interpretation of the geological data from the Paser Project, East Kalimantan.

Padang Resources Limited (ASX:PXR) is pleased to announce that it has completed due diligence on the Paser Project, East Kalimantan and will now proceed with its resource definition program.

Padang Resources Limited (ASX:PXR) is pleased to announce that it has verified a number of permits necessary to commence mining coal from the Paser Project, East Kalimantan.