RESOURCEHOUSE AND CHINA RAILWAY GROUP SIGN EPC CONTRACTOR FRAMEWORK AGREEMENT

Resourcehouse Limited (“Resourcehouse” or the “Company”), an international diversified resources company is pleased to announce today that the company has entered into a non-legally binding China Railway Group Limited (“CREC”)in relation to the appointment of CREC as the EPC contractor for the construction of the rail and associated infrastructure for the Galilee Coal Project, Northern Export Facility.

CREC is an integrated construction group in the PRC principally engaged in the infrastructure construction, including railways, highways, bridges, tunnels, metropolitan railways such as subway and light railways, buildings, irrigation works, hydroelectricity projects, ports, docks, airports and other municipal works.

Professor Clive Palmer, Chief Executive Officer and Executive Director of Resourcehouse, said, “CREC has long experience in carrying out mass infrastructure construction and transportation projects in China and worldwide. We are very pleased to form this alliance with CREC and are confident that CREC’s ability in railway and infrastructure construction combined with Resourcehouse’s expertise will create synergies.”

CREC said it looked forward to working closely with Resourcehouse on the construction of the coal railway and applying China’s railway technology in Australia. It is confident of the success of the Galilee Coal Project, Northern Export Facility.

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