Troy Resources Ltd.: Institutional Acceptance Facility and First Supplementary Bidder's Statement

PERTH, May 24, 2013 - Troy Resources Limited (ASX:TRY) (TSX:TRY) (Troy) and Azimuth Resources Limited (ASX:AZH)(TSX:AZH) (Azimuth) are pleased to announce that Troy has established an institutional acceptance facility open to professional investors (as defined in section 9 of the Corporations Act 2001 (Cth) (Corporations Act)) and wholesale clients (as defined in section 761G of the Corporations Act) (Eligible Azimuth Shareholders) in order to facilitate receipt of acceptances of Troy's off-market takeover offer (Offer) for all Azimuth shares (Facility).

The Facility allows the Eligible Azimuth Shareholders to indicate their intention to accept the Offer, thereby increasing the prospect of Troy obtaining a relevant interest in at least 90% of the Azimuth shares on issue by the closing date of the Offer, which will assist Troy in proceeding to compulsory acquisition. Eligible Azimuth Shareholders who wish to participate in the Facility should contact Computershare Clearing Pty Ltd on +61 3 9415 5587.

Azimuth shareholders who are not Eligible Azimuth Shareholders (and are therefore not able to participate in the Facility) can still accept the Offer by following the instructions in the Bidder's Statement which has been mailed to Azimuth shareholders.

The Azimuth board of directors and CEO continue to unanimously recommend that Azimuth shareholders ACCEPT THE OFFER, in the absence of a superior proposal.
In addition to their recommendation, Azimuth's board of directors have now accepted the Offer in respect of all Azimuth shares that they hold or control.
Should you intend to accept the Offer, the Azimuth board of directors and CEO encourage you to do so without delay.

The closing date of the Offer is 7:00pm (Sydney time) / 5.00am (Toronto time) on 14 June 2013, unless extended or withdrawn.

The attached document is Troy's first supplementary bidder's statement dated 24 May 2013 (Supplementary Bidder's Statement: http://media3.marketwire.com/docs/TRYBID0524.pdf) prepared in accordance with section 643 of the Corporations Act. The Supplementary Bidder's Statement was lodged at ASIC and served on Azimuth earlier today.

Any questions or requests for assistance or further information on how to accept the Offer may be directed to the Offer Information Line on 1300 810 584 (for calls made from within Australia) or +61 2 8022 7909 (for calls made from outside Australia) available between 7.00am and 5.00pm (Perth time) on Business Days. Calls to the Offer Information Line may be recorded.

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ABN: 33 006 243 750



Contact

Troy Resources Limited
Shareholders: Offer Information Line
1300 810 584 (calls made from within Australia)
+61 2 8022 7909 (calls made from outside Australia)

Troy Resources Limited
Investors: Paul Benson, Chief Executive Officer
+61 8 9481 1277
www.troyres.com.au

Cannings Purple
Media Relations:
Annette Ellis / Warrick Hazeldine
+ 61 8 6314 6300

Azimuth Resources Limited
Shareholders: Offer Information Line
1300 810 584 (calls made from within Australia)
+61 2 8022 7909 (calls made from outside Australia)

Azimuth Resources Limited
Investors: Russell Clark, Chief Executive Officer
+61 8 9381 2488

Fortbridge Consulting Pty Ltd
Media Relations: Bill Kemmery
+61 2 9003 0499