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2380775 Ontario Ltd.: Acquisition of Shares of BE Resources Inc.

TORONTO, ONTARIO -- (Marketwired) -- 12/11/13 -- 2380775 Ontario Ltd. (the "Offeror") announced that on August 1, 2013, it acquired ownership and/or control or direction over a total of 2,000,000 units of BE Resources Inc. (the "Company") by way of a non-brokered private placement for aggregate consideration of $100,000 or $0.05 per unit. Each unit consists of one common share in the capital of the Company (a "Share") and one Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Share at an exercise price of $0.10 for a period of five years following the acquisition of the Units.

The 2,000,000 Shares acquired by the Offeror represents approximately 10.3% of the issued and outstanding common shares of the Company on an undiluted basis. After giving effect to the acquisition of the Units, the Offeror owns or controls 2,000,000 Shares of the Company, representing 10.3% of the issued and outstanding Shares of the Company. The Offeror also holds Warrants issued pursuant to the Private Placement entitling the Offeror to acquire an additional 2,000,000 Shares, which collectively represent approximately 18.7% of the issued and outstanding Shares of the Company, calculated on a partially-diluted basis assuming the exercise of all Warrants issued pursuant to the private placement held by the Offeror.

The Offeror is owned and controlled by Jon Pereira, a director and senior officer of the Company. Mr. Pereira personally holds stock options to acquire up to 550,000 Shares under the stock option plan of the Company. Assuming the exercise of his Warrants and options, Mr. Pereira's ownership would increase to 4,550,000 Shares being 19.0% of the Shares then issued and outstanding.

The Offeror's acquisition was made for investment purposes, and the Offeror and/or Mr. Pereira may, in the future, acquire ownership and control over additional securities of the Company for investment purposes.

For more information, or to obtain a copy of the subject early warning report, see www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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