Auzex Resources Limited

All Scrip Merger

All Scrip Merger between Auzex Resources Limited and GGG Resources Plc

The Directors of Auzex resources Ltd ("Auzex") are pleased to announce the signing of the binding Heads of Agreement to combine the Bullabulling Gold Project under a single corporate entity to be named Bullabulling Gold Limited through an all scrip merger of equals which will be Australian domiciled and listed on the ASX and AIM.

Highlights

• creation of a growth focussed junior gold company
• 100% ownership of Bullabulling
• unified management team drawn from both Auzex and GGG
• TDual listed on ASX and AIM
• Auzex to demerge its non-Bulabulling assets
• 2.6Moz Au resource
• significant exploration potential

The transaction will be completed via 2 interconditional transactions:

• Establishement of Bullabulling Gold Ltd which will acquire the entire share capital of GGG Resources Plc via a Scheme of Arrangement in Australia
• Bullabulling Gold Ltd to acquire the entire share capital of Auzex Resources Ltd via a Scheme of Arrangement in Australia. Auzex will spin-out its non-Bullabulling assets as part of the merger.

Next Steps

• A management Company to be formed to assume management of Bullabulling trough to transition to Bullabulling Gold Ltd.
• Auzex and GGG to finalise a formal merger implementation agreement reflecting the terms of the Head of Agreement within 21 days.
• GGG shareholders will recieve a Scheme Booklet that will contain full details of the proposed Scheme (being the the transfer of GGG shareholders shares in GGG to Bullabulling Gold Ltd)
• GGG to immediately begin the process of listing Bullabulling Gold Ltd on ASX and AIM.
• Auzex shareholders will recieve a Scheme Booklet that will contain full details of the propsoed Scheme (being the transfer of Auzex shareholder shares in AZX to Bullabulling Gold Ltd).
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2011-December-21	Demerger of Auzex Exploration Limited Becomes Effective (in PDF)
2011-December-21	Demerger of Auzex Exploration Limited - Ex-Entitlement Date (in PDF)
2011-December-20	Court Approves Demerger of Auzex Exploration Limited (in PDF)
2011-December-19	Demerger of Auzex Exploration Ltd Approved - Minor Correction (in PDF)
2011-December-16	Demerger of Auzex Exploration Ltd Approved by Shareholders (in PDF)
2011-November-18	Mailing of Demerger Scheme Booklet Completed (in PDF)
2011-November-11	Court Approves Demerger Scheme Booklet (in PDF)
2011-November-11	Auzex Demerger Scheme Booklet (in PDF)
2011-September-28	Auzex Resources Limited ("Auzex") and GGG Resources plc ("GGG") - Bullabulling - Additional Prospecting Licences (in PDF)
2011-September-19	Merger Progress (in PDF)
2011-September-19	AZX / GGG Merger Presentation (in PDF)
2011-August-29	All Scrip Merger between Auzex Resources and GGG Resources (in PDF)
2011-May-19	Target's Statement (in PDF)
2011-May-19	Major Shareholder Rejects GGG Takeover Offer (in PDF)
2011-May-6	AIM Listing, Demerger and Capital Raising (in PDF)
2011-May-5	Release of GGG Resources Bidder's Statement (in PDF)
2011-April-18	Takeover Offer from GGG Resources Plc (in PDF)
2011-March-30	Letter to Security Holders (in PDF)
2011-March-16	Proposed Takeover Offer by GGG Resources Grossly Inadequate (in PDF)
2011-March-14	Takeover Proposal (in PDF)
2012	2012 All Scrip Merger