update on consortium for togo phosphate

UPDATE ON CONSORTIUM FOR TOGO PHOSPHATE
PROJECT, WEST AFRICA
Balamara Resources Limited (“Balamara” or the “Company”) advises that Deepak Fertilizer
and Petrochemicals Limited (“Deepak”) has, for its own reasons, withdrawn from the
consortium of parties assembled by Balamara as part of its tender for the Togo Phosphate
Project, West Africa.
Deepak joined the consortium in August 2012 with a specific role as one of two potential
downstream acid producers in the event that the tender is awarded to Balamara and all
project feasibility studies were positive.
Balamara is currently in discussions with several other major organisations to identify a
substantial new partner to play a wider role within the consortium covering not only acid
production but other key areas as well, including off-take, infrastructure and project
funding.
Balamara will update the market as required as it continues to add to its strong consortium
of partners that will help deliver this world-class asset.