Kangaroo Resources Limited

ABN: 38 120 284 040

ASX Code: KRL

Perth Office

Suite B, 150 Hay Street

Subiaco

Western Australia, 6008

Telephone +61 8 6102 6990

Facsimile +61 8 6102 6993

Jakarta Office

Graha Irama Building 12th Floor

Jl. HR Rasuna Said Blok X-1

Kav.1&2

Jakarta Selatan 12950, Indonesia

Telephone +62 21 526 9868

Facsimile +62 21 526 9866

30 July 2013

JUNE 2013 QUARTERLY ACTIVITIES REPORT

HIGHLIGHTS COAL PROJECTS – INDONESIA

Mamahak Coal Project:

Production at MCM remains suspended pending identification of additional

mineable reserves, construction of new road and port and improvement in

market conditions.

MCM coal sales of 61,758 tonnes, reduction in coal stockpile inventory down to

71,940 tonnes.

Exploration Program now commenced at MEL. MEL is the second concession out

of the four Mamahak mining concessions.

159 Drill holes completed totalling 7,389m of exploration drilling completed at

primarily at MCM and a small proportion at MEL.

Pakar Coal Project:

Continuation of the regulatory process required to obtain Government sign-off for

the transfer of outstanding equity in the Pakar Project to the remaining 4

concessions to be transferred to the Company.

Corporate:

Cash reserves of AU$3.825M at Quarter-end with US$10.5M due to be transferred

once the project equity component of the Pakar transaction is completed.

Legal Action has been commenced in the Supreme Court of Victoria against the

Company by former advisors, Chimaera and Empire, relating to an engagement

in 2010. The Company has engaged legal firm Clayton Utz to defend the case.

A Freezing Order against Kangaroo which was issued in April 2012 has now been

discharged following a ruling by the Supreme Court of Western Australia on 26

June 2013.

MAMAHAK COAL PROJECT (four concessions MCM, BKL, MEL & MBE)

Mamahak project contains 4 individual mining concessions which are now located in

the newly formed Mahakam Hulu regency in East Kalimantan, Indonesia (formerly Kutai

Barat).

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Production at MCM remains suspended pending identification of additional mineable

reserves from MCM, MEL, MBE and BKL, construction of new road and port along with

improvements in the international coal market. A work program is in place to identify

additional coal reserves. Coal stockpiles will be sold down as soon as river levels allow

barging from the existing port location.

During the March 2013 Quarter mining operations were suspended at the Mamahak

Coal project in Indonesia. This decision was taken to enable the completion of an

operational review and also to await an improvement in international coal market

conditions.

During the June 2013 Quarter - the suspension was continued and no mining production

activity was carried out, however coal crushing and coal hauling activity was continued

to build up coal product stockpiles at the Long Hubung port area on the Mahakam

River.

The MCM mining agreement established in the March 2013 Quarter with mining

contractor PT Hero Krida Utama (HKU), under which Kangaroo will notify HKU three

months before the date it wishes to start the new mining contract is still in place. The

deadline for initiating mobilization is 30 September 2013.

During the June Quarter – Coal Barging re-commenced and a total of 61,758 tonnes

was barged to Balikpapan Coal Terminal utilising a 2 stage barging process. Barging

throughout the June 2013 Quarter was intermittent due to seasonal variations to the river

levels. Barging form Long Hubung port was eventually halted in June due to the onset of

a prolonged dry weather period which reduced river levels to below the minimum

required for barging.

All coal barged to Balikpapan Coal Terminal during the June 2013 Quarter has been sold

for export markets and revenues used to offset project debt. Coal Sales were all to

Bayan using a pro-rata index linked contract based on the Indonesian coal price index.

Site investigation & exploration activities were also continued and expanded during the

June 2013 Quarter. A total of 4 exploration drill rigs were in operation at MCM and MEL

for resource definition and exploration. In the September 2013 Quarter, the Company

will continue its exploration drilling programme to increase the coal resources & reserves

at Mamahak. During the June 2013 Quarter, a total of 159 boreholes were drilled for an

aggregate total of 7,389 linear metres. (drilling for MCM & MEL combined)

The MEL concession which covers an area of 5,000 hectares is within an area designated

for Production Forestry. A forestry usage permit known locally as “Pinjam Pakai” was

obtained for MEL on 30 October 2012 for a total area of 1,516 Hectares which covers the

Western and Eastern areas of the MEL concession area. The remaining Central area of

the MEL concession area is still pending submission of a revised forestry usage permit

application, due to the existence of a former forestry logging licence held by others.

During the June 2013 Quarter, physical access was established to the Western “Pinjam

Pakai” area and 1 drilling rig was able to commence initial exploration drilling on 16 June

2013. A total of 6 holes equating to 297 linear metres of drilling were completed at MEL

concession area during the June 2013 Quarter.

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Access to MBE for exploration is subject to establishing a new road access. A forestry

usage permit for MBE is already in place since 6 March 2013 covering 1,420 Hectares of

the 5,000 Hectare mining concession. As with MEL, the approved area covers a Western

and an Eastern area only – the remaining Central area will require a further submission to

be made due to the existence of a former forestry logging permit held by others.

An application for forestry usage permit “Pinjam Pakai” for BKL is also being prepared by

the Company for submission. The “Pinjam Pakai” process requires the company to

obtain a number of other supporting documents and recommendation letters from

other government departments prior to submission of an application.

The Company’s focus at Mamahak for the remainder of 2013 will be in continuing

ongoing exploration in MCM & MEL concession areas and also in establishing new

vehicular access to the eastern areas of MEL and also to the easternmost MBE

concession to allow access for drilling rigs to commence exploration drilling.

The Company’s primary objective is to increase the current Mamahak Coal Resource

and provide the basis for the definition of a Coal Reserve to justify the additional capital

expenditure required to overcome the barging issues caused by the seasonal river level

variations at the current Long Hubung port location.

PAKAR COAL PROJECT

Pakar project contains 9 individual coal mining concessions which are located in the

Kutai Kartanegara (Kukar) regency in East Kalimantan, Indonesia.

Pakar North has 3 projects (TA, TJ and DE) while Pakar South has 6 projects (OM, SA, CA,

BS, AU, SK). There is also one other asset-holding company associated with the 9 Pakar

mining concessions (SAU).

The Company has previously announced the execution of direct foreign ownership of

five separate concessions and one asset-holding company at the Pakar Project. These

are TJ and DE from Pakar North, OM, SA and SK from Pakar South and the separate asset

company SAU.

The remaining 4 projects (TA, AU, BS and CA) are now in the process of legal hand over

between BAYAN and the Company. Previous legal issues which prevented these

projects from being transferred from the original vendors to BAYAN have now been

resolved and (as of the date of this update) the 4 projects are in the hands of BAYAN

who have now commenced the various legal processes necessary to have these

transferred to the Company.

The Pakar Coal Project is a cornerstone asset in the Company’s Indonesian coal

production strategy, and the transfer of outstanding equity for direct ownership will

secure the Company’s exposure to future cash flows to be generated by the Project,

complementing its existing portfolio of thermal and coking coal projects in Indonesia.

A new exploration strategy and individual exploration programs for each concession are

being prepared along with budget estimates in readiness for access to the Pakar areas.

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In addition, the Company is continuing the preparation of feasibility studies and

environmental impact studies (based on site investigation data obtained previously) to

submit to the regulatory authority to convert all the Pakar concessions from exploration

status to exploitation status.

The Company must also wait on receipt of several forestry usage permits, “Pinjam

Pakai”, before any on-site works can proceed at the Pakar Project concessions.

Pakar Infrastructure (SAU)

BAYAN currently has two coal mining concessions in production adjoining the northern

boundary of the Company’s Pakar (North) concessions. BAYAN is currently barging coal

from these concessions to the Gunung Sari port to the west on the Belayan River. BAYAN

is planning to construct a new road from these concessions to a new port location on

the larger capacity Kedang Kepala River to enable a major expansion in production

capacity from these mines.

Discussions were held with Bayan during the June 2013 Quarter to enable the

Company’s Pakar projects to also access the proposed new haul road, conveyor and

barge loading facilities once constructed. These facilities will connect all 9 Pakar coal

projects to a new large scale port area on the Senyiur River.

BAYAN and the Company have identified an opportunity to utilise some currently

unused SAU infrastructure, including haul roads, buildings and land in the establishment

of the proposed new Infrastructure.

Such an arrangement would enable the Company to:-

recover capital cost already expended on infrastructure that will not be utilised in

the immediate future

progressively develop and exploit the Pakar concessions and get coal to market

without any major upfront capital expenditure thereby giving a significant

advantage to improve economic outcomes for the Company.

Further discussion between the Company and BAYAN will continue in the September

2013 Quarter to establish a cooperation framework and commercial agreements under

which cooperation can be formalized for the long term benefit of both parties.

GRAHA PANCA KARSA COAL PROJECT (GPK)

GPK is located near Long Hiram, in the Kutai Barat regency, East Kalimantan, Indonesia.

During the June 2013 Quarter, the Company continued to progress the “Pinjam Pakai”

permitting process required to enable it to carry out further exploration activities at the

GPK Project. The Company is required to secure the necessary forestry usage permits

which will enable additional confirmation exploration to be carried out prior to the

selection of a mining contractor and award of a mining contract. In-principle approval

has been given, however activity cannot be commenced until the formal permit

documentation has been issued.

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The Company remains firmly committed to the development of the GPK project but, in

light of current coal markets, the Company is currently evaluating the timing of the

development of this project.

To enhance tenure, the Company is also continuing the legal process of acquiring direct

foreign ownership of the GPK asset by converting GPK into an Indonesian PMA company

(a foreign investment company) and transferring approximately 84.82 per cent of the

shares in GPK directly to the Company.

Under the terms on an existing commercial agreement with KAL Energy dating back to

April 2010, upon receipt of the shares in GPK, the Company will issue approximately 8 per

cent of its shares in GPK to KAL Energy leaving its total direct ownership at 76.82 per

cent.

MT RUBY PROJECT

Mt Ruby tenement lies approximately 90km SW of Cairns and is around 120km from the

Mourilyan Bulk Loading Terminal at Innisfail, in Queensland.

An application to renew the Mt Ruby tenement was submitted in the March 2013

Quarter. The tenement is held by a subsidiary KML. The Company has applied for an

extension of the exploration permit and is awaiting formal documentation being

processed.

Further discussions were held in the June 2013 Quarter with other tenement lease holders

in the area of Mt Ruby with a view to assessing joint development opportunities.

The Company is currently arranging for the engagement of an independent Geological

consultant to review existing data and conduct an appraisal of the tenement to assist

the Board of Directors in reviewing development options and determining the best

strategy.

CORPORATE

During the June 2013 Quarter three Board Directors resigned and were replaced by

three new Directors on 1 May 2013. These changes were ratified at the Company’s AGM

held in Perth on 31 May 2013. The Company also relocated the Perth Head Office to 14

Emerald Terrace in West Perth and engaged 2 new individuals as joint Company

Secretary.

During the June 2013 Quarter, the Company continued to monitor the Supreme Court of

Western Australia proceedings initiated by a subsidiary of WEC (BCBC Singapore Pte Ltd)

against BAYAN for freezing orders. Freezing orders against BAYAN and the Company

were made by the Court on 5 April 2012. The Company had only been joined as a third

party to these proceedings to enable the freezing orders against BAYAN to be made.

The freezing orders made against the Company were discharged following an order by

the Supreme Court of Western Australia judgment which was delivered on 26 June 2013.

The Court held that this was not a case in which the Court should have made a freezing

order against a third party, such as the Company. The Company received its costs of

this proceeding and has liberty to make an application to ask for an inquiry as to

damages that it has sustained by reason of the freezing orders being granted on 5 April

2012.

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During the June 2013 Quarter, legal action was commenced against the Company by

former advisors, Chimaera Capital Markets Pte Ltd and Empire Equity Limited in the

Supreme Court of Victoria. The proceedings relate to payment for an engagement

commenced on 17 November 2010 and terminated on 8 February 2011. The former

advisors are seeking relief in the quantum of AU$28 million plus Company shares &

warrants for services allegedly provided over the three month period. The Company has

engaged legal firm Clayton Utz to defend the case on its behalf.

Cash at bank at the end of the March Quarter was ~AU$3.825 million, with a total of up

to US$10.5 million due to be received once the complete project equity component of

the Pakar transaction has been finalised.

KEY OBJECTIVES FOR SEPTEMBER 2013 QUARTER

Commercial – Sale of remaining coal stockpiles at Mamahak

Exploration 1 - Monitor progress on existing exploration program at the 4 Mamahak

concessions, including increasing areas of existing forestry usage permits to widen

the overall exploration footprint.

Exploration 2 - Develop additional exploration programs, work plans and budgets for

Pakar Projects, along with a new confirmation drilling program for GPK.

Legal - Continue the regulatory process and obtain Government sign-off for the

transfer equity of the 4 outstanding Pakar projects to the Company.

Licensing & Permitting 1 - Continue the process of acquiring “Pinjam Pakai” for GPK

and also of acquiring direct foreign ownership of the GPK Project.

Licensing & Permitting 2 - Commence “Pinjam Pakai” process for the Pakar projects.

Business Development 1 - Establish any necessary legal and commercial agreements

to enable the Company’s Pakar projects to enable access to and use of the new

haul road, conveyor and barge loading facility to be constructed by BAYAN.

Business Development 2 – Identify opportunity and optimal timing to bring GPK

concession into production.

Business Development 3 – Formalise a new business strategy and market the

Company as a long term Investment opportunity.

ENDS

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GLOSSARY

CORPORATE

Company – Kangaroo Resources Limited (ASX – KRL)

BAYAN – PT Bayan Resources Tbk

KML – Kangaroo Minerals Pty Limited

WEC – White Energy Company Limited (ASX – WEC)

PMA – Perusahaan Model Asing (local term used for a foreign investment company)

MAMAHAK

MCM – PT Mamahak Coal Mining

BKL – PT Bara Karsa Lestari

MEL – Mahakam Energi Lestari

MBE – Mahakam Bara Energi

Long Hubung – Current Port location on Mahakam River for MAMAHAK projects

PAKAR (NORTH)

TA – PT Tiwi Abadi (currently pending share transfer from BAYAN to KRL)

TJ – PT Tanur Jaya

DE – PT Dermaga Energi

PAKAR (SOUTH)

OM – PT Orkida Makmur

SA – PT Sumber Api

CA – PT Cahaya Alam (currently pending share transfer from BAYAN to KRL)

BS – PT Bara Sejati (currently pending share transfer from BAYAN to KRL)

AU – PT Apira Utama (currently pending share transfer from BAYAN to KRL)

SK – PT Silau Kencana

PAKAR (NORTH & SOUTH)

SAU – PT Sumber Aset Utama

Senyuir – Proposed port location on Kedang Kepala River for PAKAR projects

GRAHA PANCA

GPK – PT Graha Panca Karsa

Further information:

Ian Ogilvie

Managing Director

T | +61 8 9322 4994

E | info@kangarooresources.com

W| www.kangarooresources.com

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DISCLAIMER: The information concerning production targets in this announcement are not intended to be forecasts. They

are internally generated goals set by the board of directors of Kangaroo Resources Limited. The ability of the company to

achieve these targets will be largely determined by the company’s ability to secure adequate funding, implement mining

plans, resolve logistical & permitting issues associated with mining and enter into off take arrangements with reputable third

parties.

It is common practice for a company to comment on and discuss its exploration in terms of target size and type. The

information above relating to the exploration target should not be misunderstood or misconstrued as an estimate of Mineral

Resources or Ore Reserves. Hence the terms Resource(s) or Reserve(s) have not been used in this context. The potential

quantity and grade is conceptual in nature, since there has been insufficient exploration to define a Mineral Resource. It is

uncertain if further exploration will result in the determination of a Mineral Resource.

ABOUT KANGAROO RESOURCES

Kangaroo Resources Limited (ASX: KRL) is an emerging international mining Company with a portfolio of 14* coal

projects in the East Kalimantan province of Indonesia and one Mineral exploration project in Queensland Australia

The Company’s Indonesian projects host significant thermal coal resources, some with coking coal properties, which

will see the Company emerge as a significant Indonesian coal producer.

The Company is committed to building a sustainable mid-tier mining house, focusing on Indonesian coal and using

the considerable experience and expertise of its exceptional in-country majority shareholder to enable it to fast

track development and production.

The Company’s strategy entails continuing to develop its resources and reserves and progressively build production

in the short term from within its current portfolio of 14* existing Indonesian projects.

* assumes successful transfer of the remaining 4 Pakar concessions

ABOUT BAYAN RESOURCES

Bayan Resources

PT. Bayan Resources Tbk is a leading Indonesian coal producer which has integrated coal mining, processing and

logistics operations. The Group is engaged in the business of surface open cut mining of thermal coal located

primarily in East and South Kalimantan.

Bayan has a total of 22 concessions which have a JORC certified reserves of 0.87 billion tonnes and JORC resources

of 4.10 billion tonnes. Coal production also includes other grades of coal which comprise of environmentally-

friendly, low sulfur, sub-bituminous coal and semi-soft coking coal. Having diverse coal quality, the Group is able to

blend its products to meet various customers’ specifications.

In addition, Bayan has access to cost effective and superior logistics with significant expansion possibility; ownership

of port loading infrastructure is a key strategy. The Group owns and operates port loading facilities such as the

Balikpapan Coal Terminal (BCT) which is one of the largest coal terminals in East Kalimantan with a handling

throughput capacity of 15.0 million tonnes per annum.

The BCT is able to blend from up to four stockpiles to desired specification and can fully load large scale Panamax

vessels. It also owns and operates two Floating Transfer Stations (KFT) which can accept up to Capesize vessels as

well as barge loading facilities in the various mine sites.

Bayan has the necessary resources, experience and expertise to help Kangaroo manage issues on the ground and

drive forward its Indonesian coal strategy

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Appendix 1: Project Location Map – East Kalimantan, Indonesia

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Appendix 5B

Mining exploration entity quarterly report

+ See chapter 19 for defined terms.

30/9/2001 Appendix 5B Page 1

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

KANGAROO RESOURCES LIMITED

ABN Quarter ended (“current quarter”)

38 120 284 040 30 June 2013

Consolidated statement of cash flows

Cash flows related to operating activities

Current quarter $A’000

Year to date (6 months) $A’000

1.1 Receipts from product sales and related debtors

4,913 4,913

1.2 Payments for (a) exploration & evaluation

(b) development

(c) production

(d) administration

(130)

-

(3,897)

(1,101)

(212)

-

(9,467)

(1,568)

1.3 Dividends received - -

1.4 Interest and other items of a similar nature

received

31 64

1.5 Interest and other costs of finance paid - -

1.6 Income taxes paid - -

1.7 Other (provide details if material) - -

Net Operating Cash Flows

(184) (6,270)

Cash flows related to investing activities

1.8 Payment for purchases of:

(a) prospects

(b) tenement acquisition

(c) other fixed assets

(d) equity investments

-

-

(651)

-

-

-

(767)

-

1.9 Proceeds from sale of:

(a) prospects

(b) equity investments

(c) other fixed assets

-

-

14

-

-

14

1.10 Loans to other entities - -

1.11 Loans repaid by other entities - -

1.12 Other (provide details if material) - -

Net investing cash flows

(637) (753)

1.13 Total operating and investing cash flows

(carried forward)

(821) (7,023)

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Appendix 5B

Mining exploration entity quarterly report

+ See chapter 19 for defined terms.

Appendix 5B Page 2 30/9/2001

1.13 Total operating and investing cash flows

(brought forward)

(821) (7,023)

Cash flows related to financing activities

1.14 Proceeds from issues of shares, options, etc. - -

1.15 Proceeds from sale of forfeited shares - -

1.16 Proceeds from borrowings 5,373 11,582

1.17 Repayment of borrowings (4,913) (4,913)

1.18 Dividends paid - -

1.19 Other (provide details if material) - -

Net financing cash flows

460 6,669

Net increase (decrease) in cash held

(361)

(354)

1.20 Cash at beginning of quarter/year to date 3,820 3,855

1.21 Exchange rate adjustments to item 1.20 366 324

1.22 Cash at end of quarter 3,825 3,825

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related entities Current quarter

$A'000

1.23

Aggregate amount of payments to the parties included in item 1.2

208

1.24

Aggregate amount of loans to the parties included in item 1.10

NIL

1.25

Explanation necessary for an understanding of the transactions

The amount above includes payments to Directors and their associated companies.

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated

assets and liabilities but did not involve cash flows

NIL

2.2 Details of outlays made by other entities to establish or increase their share in projects in which the

reporting entity has an interest

NIL

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Appendix 5B

Mining exploration entity quarterly report

+ See chapter 19 for defined terms.

30/9/2001 Appendix 5B Page 3

Financing facilities available Add notes as necessary for an understanding of the position.

Amount available

$A’000

Amount used

$A’000

3.1 Loan facilities

- -

3.2 Credit standby arrangements

- -

Estimated cash outflows for next quarter $A’000 4.1 Exploration and evaluation

200

4.2 Development

-

4.3 Production

3,000

4.4 Administration

500

Total

3,700

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as

shown in the consolidated statement of cash flows) to

the related items in the accounts is as follows.

Current quarter $A’000

Previous quarter $A’000

5.1 Cash on hand and at bank 3,825 3,820

5.2 Deposits at call - -

5.3 Bank overdraft

-

-

5.4 Other (provide details)

-

-

Total: cash at end of quarter (item 1.22) 3,825 3,820

Changes in interests in mining tenements Tenement

reference

Nature of interest

(note (2))

Interest at

beginning

of quarter

Interest at

end of

quarter

6.1 Interests in mining

tenements relinquished,

reduced or lapsed

6.2 Interests in mining

tenements acquired or

increased

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Appendix 5B

Mining exploration entity quarterly report

+ See chapter 19 for defined terms.

Appendix 5B Page 4 30/9/2001

Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates.

Total number Number quoted Issue price per

security (see note

3) (cents)

Amount paid up per

security (see note 3)

(cents)

7.1 Preference +securities (description)

7.2 Changes during

quarter

(a) Increases

through issues

(b) Decreases

through returns

of capital, buy-

backs,

redemptions

7.3 +Ordinary

securities

3,434,430,012 3,434,430,012 Fully Paid Fully Paid

7.4 Changes during

quarter

(a) Increases

through issues

(b) Decreases

through returns

of capital, buy-

backs

7.5 +Convertible

debt securities

(description)

7.6 Changes during

quarter

(a) Increases

through issues

(b) Decreases

through

securities

matured,

converted

7.7 Options (description and

conversion

factor)

128,103,448

-

Exercise Price

$0.133

Expiry Date

29 June 2015

7.8 Issued during

quarter

7.9 Exercised during

quarter

7.10 Expired during

quarter

7.11 Debentures (totals only)

7.12 Unsecured

notes (totals

only)

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Appendix 5B

Mining exploration entity quarterly report

+ See chapter 19 for defined terms.

30/9/2001 Appendix 5B Page 5

Compliance statement

1 This statement has been prepared under accounting policies which comply with

accounting standards as defined in the Corporations Act or other standards acceptable

to ASX (see note 4).

2 This statement does give a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: 30 July 2013

Company secretary

Print name: Michael Loh

Notes

1 The quarterly report provides a basis for informing the market how the entity’s

activities have been financed for the past quarter and the effect on its cash position.

An entity wanting to disclose additional information is encouraged to do so, in a note

or notes attached to this report.

2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in

mining tenements acquired, exercised or lapsed during the reporting period. If the

entity is involved in a joint venture agreement and there are conditions precedent

which will change its percentage interest in a mining tenement, it should disclose the

change of percentage interest and conditions precedent in the list required for items

6.1 and 6.2.

3 Issued and quoted securities The issue price and amount paid up is not required in

items 7.1 and 7.3 for fully paid securities.

4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive

Industries and AASB 1026: Statement of Cash Flows apply to this report.

5 Accounting Standards ASX will accept, for example, the use of International

Accounting Standards for foreign entities. If the standards used do not address a topic,

the Australian standard on that topic (if any) must be complied with.

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