Mr. Richard Graham reports

RHYOLITE RESOURCES LTD.: APPOINTMENT OF DIRECTOR

Rhyolite Resources Ltd. has appointed Michael Basha, PEng, PGeo, to the board of directors of the company. In connection with this appointment, the company has also granted 50,000 stock options pursuant to its stock option plan at the exercise price of 50 cents each for a term of five years.

Mr. Basha is a seasoned exploration professional with more than 22 years of domestic and international experience including research, fieldwork, and senior management experience in gold, base-metal and magmatic nickel-copper-platinum group elements. Mr. Basha is also currently the president and chief executive officer of Aurion Resources Ltd. and was formerly vice-president of exploration of Cornerstone Capital Resources Corp.

Melinda Park has resigned as a director.