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Pallinghurst Resources Limited – Correction to Market Announcement

12 October 2010

HAMILTON, Bermuda – 12 October, 2010 – The Directors of Pallinghurst Resources Limited (the “Company”; Ticker: PALLRES.BH) have released a correction to the market announcement released 16 August, 2010.

Shareholders are referred to the Company’s media release on 16 August 2010, entitled “Pallinghurst Resources announces that Jupiter/Tshipi transaction is approved by Jupiter shareholders” and are advised that the number of shares the Company will own following the completion of the Jupiter/Tshipi transaction is 293,163,691, not 272,147,043.

All other information contained within the aforementioned media release was correct.

BSX Sponsor:

Michael Schroter,

First Bermuda Group (441) 295-1330