Fortbridge Media Release

Hodges Resources [ASX: HDG] - Quarterly Activities Report

Hodges Resources (ASX:HDG) announces that at the end of the December quarter, the company had cash reserves of approximately $4.1 million with a further $3.6 million in receivables (under terms and conditions of commercial agreements in relation to the Botswana and Ghana projects).

During the quarter, 1.85 million options were exercised to raise $370,000.
Hodge�s market capital is currently $20 million.

Highlights:

� Wash testing indicates export quality coal at the Moiyabana Coal Project, Botswana. Maiden JORC resource expected during the first quarter of 2012.
� Laboratory results confirm quality shallow coal seams at the Morupule South Coal Project, Botswana.
� Highly encouraging results from ongoing gold exploration at Salman South and Mame projects, Ghana.
� Cash reserves of $4.1million at end of December quarter

Please see attachment for more details.

For further information, please contact:

Mark Major
Managing Director
+618 9322 6412

For media enquires:

Fortbridge
+612 9003 0477
Luke Dean
+61 414 535 433