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Tuesday, 9 December 2014

HILLGROVE UNMARKETABLE PARCEL SALE FACILITY CONCLUDED


Hillgrove Resources Limited (ASX:HGO) is pleased to announce the Hillgrove Unmarketable Parcel
Sale Facility (Sale Facility) process drew to a close yesterday. The Sale Facility, announced on 9
October 2014, offered the opportunity to eligible Hillgrove shareholders with a holding of less than $500 to sell their Hillgrove shares without brokerage costs. As a result, Hillgrove will reduce the on-going administrative costs of managing the additional number of shareholdings.
Some 1,250 shareholders had their shareholdings sold through the Sale Facility, bringing the total number of Hillgrove's shareholders below 5,000 in total. Holding statements were mailed following the close of the retention period on 25 November 2014, and payments were finalised with details mailed to participating shareholders by Boardroom Limited yesterday.
Mr Greg Hall, CEO and Managing Director said "Hillgrove will continue to implement capital management programs that assist with reducing overall administrative costs and improve the potential for the value of the company to be recognised through its share price. We anticipate that over time the capital management initiatives will provide a solid foundation for the future of the company."

For more information contact:

Mr Greg Hall Mrs Shanthi Smith
CEO & Managing Director Company Secretary
Tel: +61 (0)2 8247 9300 Tel: +61 (0)2 8247 9300

ABOUT HILLGROVE

Hillgrove is an Australian mining company listed on the Australian Securities Exchange (ASX: HGO) focused on the operation of the Kanmantoo Copper Mine in South Australia, and with exploration projects on its Indonesian tenements. The Kanmantoo Copper Mine is located less than 55km from Adelaide in South Australia. With construction completed in late 2011, Kanmantoo is an open-cut mine with a throughput of

3.0Mtpa, to produce approximately 100,000 dry metric tonnes of copper concentrate per annum.

Kanmantoo Global Mineral Resource Estimate at end February 2013

In Situ Resource

Long Term Stockpiles

Note: In Situ Resource >0.20% Cu, Long Term Stockpiles >0.15% Cu.

HILLGROVE RESOURCES LIMITED ACN 004 297 116 www.hillgroveresources.com

Suite 1709, Level 17 Australia Square Tower, 264 George Street, Sydney NSW 2000, Australia T +61 2 8247 9300 F +61 2 8247 9399

HILLGROVE RESOURCES LIMITED

Kanmantoo Global Ore Reserve Estimate at end February 2013

JORC 2012 Tonnage Cu Au Ag

Classification (Mt) (%) (g/t) (g/t)

Proven 2.5 0.77 0.08 1.7

In Situ Reserve

Probable 18.2 0.72 0.20 2.0

20.7 0.73 0.18 1.9

Long Term Stockpiles

Proven

1.4

0.46

N/A

N/A

1.4 0.46 - -

Total 22.1 0.71 0.18 1.9

Note: In Situ Reserve >0.20% Cu. Long Term Stockpiles >0.15% Cu.

Competent Person's Statement

The information in this release that relates to Mineral Resources is based upon information compiled by Mrs Michaela Wright, who is a Member of The Australasian Institute of Mining and Metallurgy. Mrs Wright is a full-time employee of Hillgrove Resources Limited and has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code)'. Mrs Wright has consented to the inclusion in the release of the matters based on their information in the form and context in which it appears.

The information in this release that relates to Ore Reserves is based upon information compiled by Mr Steven McClare, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr McClare is a full-time employee of Hillgrove Resources Limited and has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code)'. Mr McClare has consented to the inclusion in the release of the matters based on their information in the form and context in which it appears.

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