Palace Resources Limited

Based on the results of the geological mapping conducted on the Paser Project the field team collected a number of coal samples for quality analysis and completed 20 lines of a resistivity survey covering the 43 ha concession designed to gain a better understanding of the vertical and lateral distribution of the coal seams.

Padang Resources Limited (ASX:PXR) is pleased to announce that it has secured the drill core and data from previous exploration undertaken on the Paser Project.

Padang Resources Limited (ASX:PXR) is pleased to announce that it has received local government approval required to gain access to the Paser Project permit area and deploy an exploration team.

The directors of Padang Resources Limited (ASX:PXR) have pleasure in presenting their quarterly report for the period ended 31 March 2012.

Padang Resources Ltd (ASX:PXR) formerly Palace Resources Ltd, has announced that it had entered into a Memorandum of Understanding (MoU) to acquire a 70% interest in the Paser Project, a prospective Indonesian coal project located in East Kalimantan province.

Padang Resources Limited (ASX:PXR) is pleased to announce that it has commenced a two (2) stage technical due diligence program on the Paser Project, East Kalimantan.

Padang Resources Limited (ASX:PXR) is pleased to announce that it has received a Legal Due Diligence Report on the company/permit holder and title of the Paser Project, East Kalimantan.

Padang Resources Limited (ASX:PXR) is pleased to announce that it has signed an MOU with the shareholders of Paser Pte Ltd (Vendors), a company incorporated in Singapore, to acquire 70% of the issued shares in the capital of Paser (Acquisition).

Padang Resources Limited (ASX:PXR) would like to announce that Mr John Jordan will be joining the board as a non executive director. Mr Jordan brings over 30 years of experience as a geologist to the Company.

Palace Resources Limited announces name change to Padang Resources Limited (ASX:PXR) and rebranding.