bronzewing sale, page-2

AND SO IT GOES ON AND ON

Navigator Resources Limited (“Navigator”, ASX: NAV) is pleased to advise the following
update to its intended acquisition of the Bronzewing Gold Project (“BWGP”).
The Company is now in receipt of two separate proposals for debt funding facilities for the
acquisition of BWGP, the terms of which are such that the Board of Directors and
management are re-evaluating the quantum of equity required to settle the acquisition in the
interests of obtaining the optimum debt/equity mix for shareholders. The Company’s
financing flexibility in relation to the purchase was further enhanced yesterday through the
approval of shareholders for an equity placement facility of up to 50 million shares.
Navigator has sought and received a 30 day extension to the acquisition timeline from the
Administrators of the BWGP to enable a full analysis of the various capital funding scenarios.
The Company expects that the determination of the BWGP financing mix will occur by 31
August 2009 with the final settlement by 30 September 2009