ASX RELEASE

9 December 2013

COMPANY UPDATE - NEW BOARD OF DIRECTORS COMMENCES WORK

I am pleased to confirm the appointment of the new Board of Directors of Moreton Resources Ltd (ASX:MRV) following the resignation of the previous Board after the Company's AGM on 28 November 2013. We now have an excellent team of Directors: Mr Arthur Hood, Mr (Alexander) Jason Elks, Mr John Thomas and Mr (Robert) James Canning-Ure.
The new Board is determined to get Moreton Resources back on track. They clearly have the necessary combination of skills, expertise, experience and reputation to take over the reins at Moreton. Biographies of the Directors can be found on the Company's website www.moretonresources.com.auunder "About Us".
The newly appointed Directors are currently undertaking a detailed review of the Company, the current strategy, and its operations in consultation with the executive management team and key stakeholders. The Board will keep shareholders updated with any key developments and will make further announcements over the course of that review.
The newly constituted Board held its first meeting on Wednesday 4 December 2013. Arthur Hood was elected Interim non-executive Chairman of the Company and it was agreed that Jason Elks be appointed as Acting Chief Executive Officer and therefore an executive Director. Whilst matters of remuneration were discussed and set for the Board, it was agreed unanimously that the non-executive Directors would defer all directors' fees until the financial position of the Company has been stabilised.
The Board has identified the following immediate priorities: