ASX Announcement 30 April 2012

Nimbus New Silver VHMS Confirmed

Highlights:

Continuing positive drilling results at Nimbus

New Silver bearing VHMS confirmed under East Pit

Preliminary NBDH031 XRF results 500 – 3600 g/t silver, 6 – 32% zinc

Extension to the Discovery Pit VHMS zone in NBDH006 with HGZ being 6m @ 184 g/t Ag and 9.1% Zn

New Oxide Silver Drill Campaign Proposed

MacPhersons Resources Limited (ASX:MRP) is pleased to announce continuing successful results received at its 100% owned

Nimbus Project , with drilling results under the East Pit and along strike of the Discovery Pit continuing to extend the Ag-Zn-Pb

sulphide mineralisation lenses.

The Directors are pleased to advise that the new VHMS zone under the East Pit (see Figure 1) has been intersected in the last

3 diamond drillholes with downhole thicknesses up to 60m and handheld XRF analysis in latest hole NBDH031 being 6 – 32%

zinc, 1 – 8% lead and 500 – 3600 g/t silver in the VHMS at 181 – 183m (see Figure 4).

Drillhole NBDH006 has returned preliminary assays showing the strike extension of the Discovery Pit VHMS zone with 36.2m @

60 g/t Ag and 3.7% Zn which includes 6m @ 184 g/t Ag and 9.1% Zn.

MacPhersons Resources have put out for tender offers for two additional RC drillings to drillout proposed extensions to the

silver oxide resource.

Figure 1 – NEW high grade VHMS Zone under Nimbus East Pit showing silver grades.

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Continued drilling in the East Pit floor (holes NBDH026, 027, 029, 031, and 032 (in Progress) have shown extensive zones of

VHMS mineralisation starting immediately in the pit floor and continuing to depths exceeding 200m below.

Massive, semi-massive, breccia, stockwork and disseminated sulphide zones have been intersected in every diamond drillhole to

date.

Latest holes NBDH027, NBDH029 and NBDH031 have intersected a new VHMS zone from 140m to 210m downhole depth (which

indicates the presence of another stacked shoot under the East Pit, and surface projections place the outcrop in a position with

very little historical exploration. This area will be part of the focus of the new oxide silver drilling program.

Handheld XRF analyses on this zone shows the sulphides to be enriched in silver-zinc-lead sulphides with grade ranges being 500

– 3600 g/t silver, 6 – 32% zinc and 1 – 8% lead. (XRF analyses on previous Nimbus massive sulphides are consistent with

laboratory assays to date). Figures 3 and 4 show 10 – 15m portions of the mineralised zones (see next page).

Results from these drillholes are showing continuity in both sulphide mineralisation and silver-zinc-lead-gold content.

Figure 2 – Tenement location plan, 8km east of the Kalgoorlie Superpit.

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The preliminary results from NBDH006 have extended mineralisation beyond the recent Maidan JORC classified resource

with confirmation of continuing silver-bearing VHMS mineralisation further to the east-southeast of the Discovery Pit.

Preliminary results are:

36.2m @ 60 g/t silver and 3.7% zinc from 155.4m downhole in NBDH006 (Table 2);

o Includes 6.0m @ 184 g/t Ag, 9.1% Zn, 0.7% Pb from 175.6m;

Another zinc-gold zone was encountered in NBDH006:

14.0m @ 34 g/t silver, 0.71 g/t gold and 1.4% zinc from 213.6m downhole depth in NBDH006;

This gold zone is a continuation of the mineralisation intersected in NBDH005 from 196.4 – 208.6m.

Diamond drillhole NBDH006 is 45m southeast of NBDH005 and along strike (see Figure 5).

Figures 3 & 4 – HQ-size drillcore from holes NBDH029 and 031, respectively, drilled beneath the Nimbus East Pit showing

the new silver VHMS zone first intersected in NBDH027 this month. Note the massive zinc-sulphide bottom right (red).

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These silver-zinc-lead mineralisation intersections extend known historical information to the east and continue to be

repeated at depth (showing the zone to remain open at depth). These intersections are not included in the current

resource classification.

The Directors are pleased with the additional silver-rich VHMS zone and the extension of mineralisation to the south and

east of the Discovery Pit and depth extensions beneath the East Pit.

Figure 5 – Location of Nimbus Mill, Pits and current diamond drillholes.

Silver Oxide Drilling

Current drilling suggests that significant extensions to the oxide mineral resource may exist along strike to the open cut

mine mineralisation outlines and up-dip from the intersections encountered recently.

MacPhersons Resources has decided to undertake an aggressive drilling program on these silver oxide targets and has

requested submissions of interest of suitably equipped drilling contractors to fill the need to supply two additional drill

rigs to the existing exploration program.

Interested parties may submit their capability statements and references to info@mrpresources.com.au

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Table 1 – Collar details.

Table 2 – NBDH006 Preliminary silver-zinc-lead assays in mineralisation zone intersected 45m southeast of NBDH005

(east of the Discovery Pit wall).

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The following highlights information from recent ASX announcements to provide additional background to recent

exploration results.

Table 3 – list of NBDH005 silver-zinc-lead assays in mineralisation zone intersected 30m southeast of NBDH025 (east of

the Discovery Pit wall).

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The Directors have included the following extract as additional background information on recent drilling.

Table 4 – list of disseminated sulphide mineralisation exceeding 40 g/t silver.

Table 5 – preliminary results on the Nimbus East Pit tailings facility.

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There are several zones of high grade polymetallic mineralisation which have been reported in detail in recent ASX

reports (see MacPhersons Resources website: http://www.mrpresources.com.au/ ). A summary of the results from

drillhole NBDH024 massive sulphide zone which intersected a downhole thickness of 17.4m are:

860 g/t silver (27.6 ounces/tonne);

16.6% zinc

3.5% lead

0.3 g/t gold

This included a central 7m portion (see Photo (Figure 4) below) with an average assay of:

1660 g/t silver (53.4 ounces/tonne);

31.1% zinc

6.9% lead

Individual metre thick samples assay up to 3270 g/t silver and 41.1% zinc (see Table 2).

This VHMS mineralisation is intersected from 20m to 70m below the existing Discovery Pit floor.

Figure 6 – Ultra high grade VHMS zone in NBDH024.

Nimbus silver mine operated from 2003 to 2007 producing 3.6 million ounces of silver at an average grade of 352 g/t

silver. MacPhersons has recently commenced a diamond drilling program to test a multi-million ounce exploration target

associated with up to nine VHMS massive sulphide lenses. Targets include various silver, silver-gold, silver-zinc-gold-

lead deposits and the Boorara Shear Zone which includes several gold deposits at Boorara and Nimbus.

For more information on MacPhersons Resources Limited and to subscribe for regular updates, please visit our website

at: www.mrpresources.com.au or contact our Kalgoorlie office.

Morrie Goodz

Managing Director

+61 8 9091 7515

info@mrpresources.com.au

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About MacPhersons

MacPhersons Resources Ltd (MRP) is a Western Australian resource company with a number of advanced gold, silver

and zinc exploration projects.

The Company's focus is to explore and extend the highly prospective Boorara and MacPhersons geological domains of

which the Company holds 100% interest in 11km and 7 km of strikelength, respectively, including the Nimbus silver-gold-

zinc mine and the namesake MacPhersons open cut gold mine.

To fast track the opportunity to process MacPhersons’ ore within the MRP business, the Company has acquired mill

processing and mine assets at the Nimbus silver-gold-zinc mine, located 10 km east of Kalgoorlie’s superpit. The assets

come with an approved site for ore processing.

The assets have advanced exploration targets adjacent to and beneath 10 existing open cuts and with multiple

polymetallic VHMS deposits carrying silver-gold- zinc-lead-copper mineralisation, and new greenfields discoveries.

Figure 7 – Location of the Nimbus processing facility and silver mines, Boorara gold-silver-zinc projects, the

MacPhersons Reward gold mine and Tycho gold project at Coolgardie.

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Competent Person’s Statement

The information in this report that relates to mineral resources and exploration results is based on information compiled

by Mr Morrie Goodz who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Morrie Goodz is a full time

officer of MacPhersons Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and

type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as

defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore

Reserves”. Mr Goodz has given his consent to the inclusion in this report of the matters based on the information in the

form and context in which it appears.

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