Polo Resources Limited ("Polo" or "the Company") - Potential Special Dividend
of 3 pence per share

TORONTO, July 2 /CNW/ - Polo Resources Limited (AIM andTSX: POL) is pleased to announce that it is continuing its efforts to sell its shareholding in one of its portfolio assets. Subject to receipt of any shareholder approval which may be necessary for any such sale, completion of the sale and receipt of cash proceeds of sale, the board of Polo intends to utilise part of the proceeds of sale to fund a special dividend to shareholders of 3p per share.

About the Company

Polo is an emerging energy company focused on acquiring and developing advanced stage coal and uranium properties. For complete details on Polo Resources Limited, management encourages investors and interested parties to view its public documents filed on AIM Market at www.poloresources.com.

CAUTIONARY STATEMENT

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.

Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

For further information: Polo Resources Limited: Neil Herbert, Executive Co-Chairman, + 27 82 404 36 37; Canaccord Genuity Limited: Ryan Gaffney/Bhavesh Patel, + 44 (0) 20 7050 6500; Toronto: James McVicar, Heenan Blaikie LLP, [phone]; Financial Dynamics: Ben Brewerton/Ed Westropp, + 44 (0) 20 7831 3113