The directors of Boulder Steel Ltd. announced that Mr. Detlef Sulzer resigned prior to the annual general meeting to be held on November 22, 2012 at 11 am.

Boulder Steel Ltd., Annual General Meeting, Nov 22, 2012., at 11:00 AUS Eastern Standard Time. Location: Unit 12, 277-283. Agenda: To receive and consider the directors' report, the auditor's report and the annual financial report, including the financial statements of the company and its controlled entities, for the year ended June 30, 2012; to adopt remuneration report; to re-elect Mr. Detlef Sulzer and MR. Alex Lang as directors; to consider renewal of proportional takeover provisions; and to approve 10% placement capacity.

Boulder Steel Ltd. reported unaudited consolidated earnings results for the year ended June 30, 2012. For the year, the company’s total revenues from ordinary activities were AUD 11,000 against AUD 34,000 a year ago. Loss from ordinary activities before tax was AUD 4,201,000 against AUD 1,228,000 a year ago. Loss from ordinary activities after tax was AUD 4,201,000 against AUD 1,228,000 a year ago. Net loss for the period attributable to members was AUD 4,201,000 or 0.9 cents per basic and diluted share against AUD 1,228,000 or 0.3 cents per basic and diluted share a year ago. Net operating cash flows were AUD 1,763,000 against AUD 1,485,000 a year ago.