IMC Exploration Group PLC ("IMC" or the "Company") Unaudited Consolidated Interim Results for the six months ended 31st December 2012 CHIEF EXECUTIVE OFFICER'S STATEMENT Dear Shareholder, I am pleased to present the interim financial and operating results for IMC for the six months to 31st December 2012. The second half of 2012 proved to be an exciting time for your company, the highlight being the discovery of "bonanza" grade gold during drilling at Boley, Co. Wexford which yielded grades of 354g/t gold (11.38oz/t gold) within a 13.5m interval averaging 3.5g/t gold. This exceptional result followed on from other previous positive results and further drilling results have identified three distinct gold zones in this licence area. Further work is presently being carried out in Wexford, including the reprocessing of available airborne geophysics and geochemical surveys, all of which will give a clear definition of the enormous potential of the Wexford licence area. In Tulla Co. Clare findings from further drilling, backed up by an independent Competent Person's Report, confirmed the area's potential to host significant zinc and other base metal mineralisation. Features of a type associated with Silvermines, Lisheen and Galmoy Zn-Pb deposits were identified which endorsed the directors' belief that the Tulla area hosts significant base metal mineralisation. The recent award by the Department of Communications, Energy and Natural Resources of two licences in Avoca, Co. Wicklow is a significant achievement by the company. This is a further endorsement of our progress to date as well as our ability to put in place professional, competent and achievable strategic plans to maximise the potential of each licence area. We have already commissioned an independent report on the Avoca Licence area, where drilling targets have been identified and a detailed program of exploration, drilling and analysis of our five licence areas in Wicklow/Wexford is underway. We will keep you, our shareholders, informed of all developments as your company enters a further exciting stage of its development. Dr Glenn Millar, Chief Executive Officer Unaudited Consolidated statement of comprehensive income for the period ended 31 December 2012 Six Months Six Months Notes 31-Dec-12 31-Dec-11 Euro Euro Continuing Operations - - Revenue - - Other Income 5,193 - Administrative Expenses (170,235) (252,433) ------------------------- (Loss) before tax (165,042) (252,433) Income tax expense - - (Loss) for period from continuing operations (165,042) (252,433) -------------------------- Other Comprehensive income - - -------------------------- Loss for the period and total comprehensive loss for the period (165,042) (252,433) -------------------------- Earnings per share (all continuing) Loss per ordinary share - basic & diluted 1 (0.0031) (0.0049) Unaudited Consolidated Statement of Financial Position As At 31st December 2012 31-Dec-12 31-Dec-11 Note Euro Euro Non Current Assets 2 511,029 137,528 Current assets Debtors 135,233 28,570 Cash and cash equivalents 303,414 1,039,317 -------------------------- Total assets 949,676 1,205,415 -------------------------- Equity and liabilities Equity "A" Ordinary Share Capital 3 38,093 38,093 Ordinary Share Capital 3 53,309 53,309 Share Premium - Ordinary Shares 3 1,319,107 1,319,107 Retained Earnings (513,550) (256,933) -------------------------- Equity attributable to the owners of the Company 896,959 1,153,576 -------------------------- Current Liabilities Trade & Other Payables 52,717 51,839 -------------------------- Total liabilities 52,717 51,839 -------------------------- Total equity and liabilities 949,676 1,205,415 -------------------------- Unaudited Consolidated Statement of Changes in Equity for the period ended 31 December 2012 "A" Ordinary Ordinary Share Share Premium Retained Total Share Capital Capital - Ordinary losses Shares Euro Euro Euro Euro Euro Balance at 30 June 2012 38,093 53,309 1,319,107 (348,508) 1,062,001 --------------------------------------------------------------------------------- Loss for the Period - - - (165,042) (165,042) Other comprehensive loss for the period - - - - - --------------------------------------------------------------------------------- Total Comprehensive loss for the period - - - (165,042) (165,042) --------------------------------------------------------------------------------- Issue of share capital - - - - - --------------------------------------------------------------------------------- Balance at 31 Dec 2012 38,093 53,309 1,319,107 (513,550) 896,959 --------------------------------------------------------------------------------- Accounting policies Basis of Preparation The financial statements have been prepared on a historical cost basis. The financial statements are presented in Euro. (a) Statement of Compliance The consolidated unaudited interim financial statements of IMC Exploration Group Plc and its subsidiary have not been reviewed by the auditor and have been prepared in accordance with International Financial Reporting Standards ('IFRS') as adopted by the European Union ('EU'). In addition to complying with its legal obligation to comply with IFRS as adopted for use in the EU, the Group has also complied with IFRS as issued by the International Accounting Standards Board ('IASB'). NOTES TO AND FORMING PART OF THE INTERIM FINANCIAL STATEMENTS 1. Loss per share Basic loss per Ordinary Share amounts are calculated by dividing net loss for the period attributable to ordinary equity holders of the parent by the weighted average number of Ordinary Shares outstanding during the period. Basic earnings per share The weighted average number of ordinary shares used in the calculation of basic and diluted earnings per share is as follows 31-Dec-12 31-Dec-11 Euro Euro Loss for the period attributable to equity holders of the parent 165,042 346,008 ----------------------------- Weighted average number of ordinary shares for the purposes of basic earnings per share 53,129,059 37,206,946 ----------------------------- Basic (loss) per ordinary share (0.0031) (0.0049) ----------------------------- 2. Intangible assets - Exploration and Evaluation Assets Ireland Total Cost Euro Euro At 30th June 2012 314,392 314,392 Additions 181,895 181,895 ------------------------- At 31 December 2012 496,287 496,287 ------------------------- Provision for diminution in value At 30th June 2012 - - Charge for period - - ------------------------- At 31 December 201 - - Net book value At 31 December 2012 496,287 496,287 ------------------------- At 30th June 2012 314,392 314,392 ------------------------- Expenditure on exploration activities is deferred on areas of interest until a reasonable assessment can be determined of the existence or otherwise of economically recoverable reserves. No amortisation has been charged in the period. The directors have reviewed the carrying value of the exploration and evaluation assets and consider it to be fairly stated and not impaired at 31 December 2012. The recoverability of the exploration and evaluation assets is dependent on the successful development or disposal of the Group's licence areas. 3. Share capital - Group and Company 31-Dec-12 31-Dec-11 Authorised equity Euro Euro 200,000,000 Ordinary shares of Euro0.001 each 200,000 200,000 50,000 "A" Ordinary of one euro 50,000 50,000 ---------------------------- 250,000 250,000 ---------------------------- Issued, called up and fully paid: Number of Share shares Capital Premium Euro 0.001 Ordinary Shares Euro Euro At 30 June 2012 53,308,507 53,309 1,319,107 Issued in period - - - ------------------------------------------- As at 31 December 2012 53,308,507 53,309 1,319,107 ------------------------------------------- Issued, called up and partly paid: Number of Share Share shares Capital Premium One Euro A Ordinary Shares Euro Euro At 30 June 2012 38,093 38,093 - Issued in period - - - ------------------------------------------- As at 31 December 2012 38,093 38,093 - ------------------------------------------- "A" Ordinary Shares have the right to receive notice of and attend but not to vote at general meetings, no right to a dividend, right to return of capital but no further right to participate in a distribution of assets of the company. General information on the Company and the Group IMC Exploration Group Plc has secured full rights to 18 licences for base metal exploration in the Irish Base Metal Province and 5 licences for gold exploration in Wicklow/Wexford. The Group has conducted a review of historic mineral exploration data utilising the extensive experience, knowledge and expertise of the team. Drill targets have been generated on each of the prospecting licences based on exploration models developed by the Group. The Group intends to undertake an exploration programme that includes a comprehensive historical data compilation and review, geochemical sampling, geophysical data capture/processing and ultimately drilling based on these analyses. The directors of the issuer accept responsibility for this announcement. Contact Details: IMC Exploration Group Plc Mr. Liam McGrattan Tel. Ireland: +353 87 2745427 Mr. Hugh Gibney Tel. Ireland: +353 87 671 9332 LHM Casey McGrath Mr. Con Casey Tel. Ireland: +353 1 495 9200 [ con.casey@lhmcaseymcgrath.ie ]

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