TIDMGGG 
 
GGG Resources plc 
 
                            (the "Company" or "GGG") 
 
 
 
21 March 2011 
 
 
 
                   GGG's Intention to make a Takeover Offer 
 
 
 
The Board of GGG notes the announcement made by Auzex Resources Limited 
("Auzex") on 16 March 2011 which outlined the Auzex directors' initial response 
to GGG's intention to make a takeover offer. 
 
 
 
GGG wishes to highlight the following. 
 
 
 
Offer involves a significant premium to Auzex shareholders 
 
 
 
As stated in GGG's announcement on 16 March 2011, the proposed Offer represents 
a 39.3% premium to Auzex's closing price on ASX on 11 March 2011 (the last 
trading day prior to the date of the announcement) and a 21.2% premium using 
one month VWAP's for GGG and Auzex respectively and a 10.7% premium using three 
month VWAP's for GGG and Auzex respectively. Based on the above, Auzex 
shareholders are being offered a significant premium to create a combined 
group. 
 
 
 
On a fully diluted basis, the combined group will have former Auzex 
shareholders holding 49.15%1 of GGG, thereby creating a virtually equal merger 
of interests. 
 
 
 
Correction on status of the project manager 
 
 
 
The management of the Bullabulling Joint Venture is governed through a Joint 
Venture Committee with both GGG and Auzex having equal representation. Auzex is 
not the project manager, as they stated in their announcement, and has no 
rights to represent that it is the project manager. 
 
 
 
 
 
Clarification of ASX listing 
 
 
 
Auzex has significantly hindered GGG's process to list on ASX. 
 
 
 
The capital raising conducted in connection with GGG's proposed listing on ASX 
was successfully completed and closed oversubscribed on 25 January 2011. 
 
 
 
As part of the listing application and approval process, the ASX has sought 
comfort whether Auzex, being GGG's joint venture partner in the Bullabulling 
Project, expects to incur expenditure on the Bullabulling Project to 31 
December 2012 of at least $13.8 million (Auzex's 50% share) assuming the 
results from drilling and feasibility studies planned for the first 6 months of 
2011 to confirm that development of a mine is feasible. 
 
 
 
Despite a formal request by GGG, Auzex has to date not been willing to provide 
the information sought by ASX. This has caused the proposed listing of GGG on 
ASX to be delayed significantly. 
 
 
 
1 The percentage has been calculated on a fully diluted basis, assuming 100% 
acceptance level for the Offer but before the issue of any shares under GGG's 
current Australian listing which GGG anticipates will close before the Offer is 
completed. 
 
 
 
Enquiries, please contact: 
 
 
 
Dr. Jeffrey Malaihollo      Westhouse Securities Limited 
MD, GGG Resources plc (UK)  (UK Nominated Adviser) 
Tel: + 44 1992 531820       Tom Price / Martin Davison 
www.gggresources.com        Tel: + 44 20 7601 6100 
 
 
Neil Boom                   Collins Stewart Europe Limited (Broker) 
MD, Gresham PR Ltd (UK).    John Prior / Adam Miller 
Tel: + 44 7866 805 108      Tel: + 44 20 7523 8350 
 
 
David McArthur              David Brooks 
GGG Resources plc           Professional Public Relations (Australia media) 
(Australia)                 T: +61 8 9388 0944/ +61 433 112 936 
41 Stirling Highway         E: david.brooks@ppr.com.au 
Nedlands, WA 6009 
Australia 
Tel: +61 8 9423 3200 
 
 
 
 
 
 
 
 
 
 
 
 
END
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