Goodrich Resources Ltd, ACN 150 737 563, Level 38, Australia Square Tower, 264-278 George Street, SYDNEY NSW 2000

ASX / Media Release 1 June 2012

Drilling Commences at Boomey Copper-Gold Project, NSW

Drilling has commenced on the first of four planned 200 m holes

Target is an IP anomaly with visible copper mineralisation in surface outcrop

IP anomaly is coincident with a prominent magnetic low that may be caused by alteration

due to hydrothermal fluids

Associated circular pattern of resistivity highs resembles those formed by alteration

around intrusive porphyry stocks

Target zone is located 9 km north of Copper Hill porphyry copper-gold deposit

Goodrich Resources (ASX:GRX) (“Goodrich”) is pleased to announce that drilling has commenced at its

100%-owned Boomey Project, 12 km north of Molong, near Orange in NSW (Figure 1).

Figure 1: Total magnetic intensity image of the Molong Volcanic Belt showing the location

of the Boomey Project relative to the giant Cadia-Ridgeway copper-gold mine and the

Copper Hill copper-gold deposit.

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Goodrich Resources Ltd, ACN 150 737 563, Level 38, Australia Square Tower, 264-278 George Street, SYDNEY NSW 2000

The target of the drilling is an Induced Polarisation (IP) chargeability anomaly (Figure 2). The 3D

model of the chargeability anomaly is 500m by 400m in horizontal extent and at least 300 m in vertical

extent.

Figure 2: Horizontal slice through the IP chargeability model at a depth of 150 m.

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Goodrich Resources Ltd, ACN 150 737 563, Level 38, Australia Square Tower, 264-278 George Street, SYDNEY NSW 2000

The IP anomaly is accompanied by a distinct resistivity high (Figure 3) and a prominent magnetic

low (Figure 4). The coincident resistivity high forms part of a larger circular pattern of resistivity highs.

This circular pattern resembles those formed by alteration around intrusive porphyry stocks.

Figure 3: Horizontal slice through the IP resistivity model at a depth of 150 m.

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Goodrich Resources Ltd, ACN 150 737 563, Level 38, Australia Square Tower, 264-278 George Street, SYDNEY NSW 2000

Figure 4: Total magnetic intensity image showing the prominent magnetic low.

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Goodrich Resources Ltd, ACN 150 737 563, Level 38, Australia Square Tower, 264-278 George Street, SYDNEY NSW 2000

In addition, recent mapping of the anomaly position has discovered surface outcrops of altered andesitic

volcanic rock containing visible copper mineralisation (Figure 5). The copper mineralisation consists of

malachite and azurite coating fracture surfaces and native copper disseminated through the rock. These

outcrops have been missed by previous explorers.

Figure 5: Visible copper mineralisation from outcrop at the position of the IP anomaly. The altered

volcanic rock contains malachite (green), azurite (blue) and disseminated native copper.

The Boomey Project

The Boomey Project lies within the Ordovician-aged Molong Volcanic Belt, the eastern structural

subdivision of the Macquarie Arc, a world-class porphyry copper-gold province within the Lachlan

Orogen of eastern Australia. The Macquarie Arc hosts the giant Cadia-Ridgeway (Newcrest) and

Northparkes (Rio Tinto) copper-gold mines, the Cowal (Barrack) and Peak Hill (Alkane) gold mines, and

several other significant deposits including Copper Hill, Marsden, and Wyoming.

IP Survey details

The seven line dipole-dipole IP survey was conducted by a previous explorer but prominent responses in

the data had not been investigated. The IP survey utilised a dipole spacing of 100m along each line,

giving the survey a penetration depth of at least 200 m. Consultant geophysicist Steve Collins of Arctan

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Goodrich Resources Ltd, ACN 150 737 563, Level 38, Australia Square Tower, 264-278 George Street, SYDNEY NSW 2000

Services Pty Ltd modelled the raw data using 3D inversion software and examined the resulting

chargeability and resistivity models as plans and sectional views.

Goodrich Managing Director Rod Sainty commented: “The combination of geophysical signatures at

Boomey is very encouraging because it matches those associated with known porphyry copper-gold

deposits. Our discovery of visible copper mineralisation at surface is a bonus. The project demonstrates

the exciting potential of the Goodrich portfolio.”

Statements of Compliance

The information in this report that relates to exploration results is based on information compiled by Mr

Rod Sainty, who is a Member of the Australian Institute of Geoscientists and a full-time employee of

Goodrich Resources Limited. Mr Sainty has sufficient experience relevant to the style of mineralisation

and type of deposit under consideration and to the activity which he is undertaking to qualify as a

Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration

Results, Mineral Resources and Ore Reserves’. Mr Sainty has consented to the inclusion in this report

of the matters based on his information in the form and context in which they appear.

The information in this report that relates to geophysical results is based on information compiled by Mr

Steve Collins, who is an independent geophysical consultant to Goodrich Resources Limited and the

principal of Arctan Services Pty Ltd. He is a Member of the Australian Institute of Geoscientists and the

Australian Society of Exploration Geophysicists. Mr Collins has sufficient experience relevant to the style

of mineralisation and type of deposit under consideration and to the activity which he is undertaking to

qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of

Exploration Results, Mineral Resources and Ore Reserves’. Mr Collins has consented to the inclusion in

this report of the matters based on his information in the form and context in which they appear.

For further information please contact:

Rod Sainty Peggy Lee

Managing Director Marketing Communications

Goodrich Resources Ltd Goodrich Resources Ltd

T: +61 2 8243 7500 T: +61 2 8243 7516

E: rod.sainty@goodrichresources.com.au E: peggy.lee@summitequities.com.au

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