Release: Herald Resources shareholders advised to take no action on unsolicited bid from Bumi

Herald Resources Limited notes the announcement today by PT Bumi Resources Tbk that it intends to make an all-cash offer for all of the shares in Herald at $2.25 per share. The bid is unsolicited.

Shareholders are advised to take no action in relation to the PT Bumi bid until the Board of Herald has considered the offer and made a formal recommendation.

The Herald Directors will keep shareholders fully informed of further developments as they occur and will provide a formal response and recommendation to shareholders in relation to the bid in due course.

As Herald has reported to the market previously, full mining and processing construction at the Company?s Dam high grade zinc/lead project is due to commence once forestry approval has been secured. This approval process is at an advanced stage. Port, road and accommodation construction is already underway.

Herald has appointed Euroz Securities and Blakiston & Crabb as advisors in relation to the bid. (end of release)