Pursuant to a special resolution passed by shareholders on March 23, 2011, Rhyolite Resources Ltd.'s common shares will be split on a 2:1 basis.

The common shares of the company will commence trading on a split basis at the opening, April 11, 2011. The company is classified as a mineral exploration/development company.

Postsplit capitalization:  unlimited shares with no par value of which 26,891,450 shares are issued and outstanding

Escrowed shares:  nil escrow shares

Transfer agent:  Computershare Trust Company of Canada

Trading symbol:  RYE

Cusip No.:  76243H 10 9