Resourcehouse Limited (“Resourcehouse” or the “Company”), is pleased to announce that senior management from Metallurgical Corporation of China Limited (MCC), and China Power International Holding Limited (“China Power International Holding”) will visit the Galilee Coal Project in the Galilee Basin in Queensland tomorrow. Delegates from MCC include President and Executive Director Mr. Shen Heting, Chairman of MCC Metallurgical Construction Company Mr. Li Peixun, Chairman of MCC Overseas Mr. Zou Weimin, and Vice Chief Engineer of MCC Overseas Mr. Yu Zhongliang, as well as other senior management.

Professor Clive Palmer, Chief Executive Officer and Executive Director of Resourcehouse, said “MCC and China Power International Holding are valuable business partners of Resourcehouse. We are very pleased to show them one of the most significant and extensive coal projects in Queensland. We will further explore cooperation opportunities with our partners to feed the appetite of the growing China market’s strong demand for resources.”

On 22 July, China First Pty Ltd, the wholly-owned subsidiary of Resoucehouse, entered into a non-legally binding MCC Framework Agreement with MCC in relation to the construction and financing of and offtake of production from the Galilee Coal Project.

Earlier on 1 November, Queensland Premier Ms. Anna Bligh and Treasurer Mr. Andrew Fraser visited the Company’s thermal coal project site. Premier Bligh commented that the coal project is “one of the most significant projects in the history of the state” after the visit.