Troy Resources NL closes over-allotment option



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    TSX, ASX: TRY

    PERTH, Western Australia, March 5 /CNW/ - Troy Resources NL ("Troy" or
the "Company") (TSX, ASX: TRY) is pleased to announce the closing of the issue
of an additional 1,050,000 ordinary shares at a price of C$2.60 per share, for
gross proceeds of C$2,730,000 pursuant to the exercise of the over-allotment
option (the "Over-Allotment Option") granted by Troy to a syndicate of agents
led by Scotia Capital Inc. and which included Macquarie Capital Markets Canada
Ltd., National Bank Financial Inc. and RBC Capital Markets (collectively, the
"Agents"). The Over-Allotment Option was granted to the Agents in connection
with the Company's initial public offering in Canada of 8,462,000 ordinary
shares at a price of C$2.60 per share (the "Offering") which closed on
February 11, 2008. The total gross proceeds raised pursuant to the Offering
and the Over-Allotment Option was C$24,731,200.

    Section 708A Notice

    Troy gives notice pursuant to Section 708A(5)(e) of the Corporations Act
2001 (Cth) (Australia) that the additional 1,050,000 ordinary shares offered
under its Canadian prospectus were issued on 5 March 2008 without disclosure
to investors under Part 6D.2 of the Corporations Act. At the date of this
notice Troy has complied with the provisions of Chapter 2M of the Corporations
Act as they apply to Troy and Section 674 of the Corporations Act. There is no
excluded information for the purposes of Section 708A(7) and (8) of the
Corporations Act.

    Troy is a gold mining and exploration company incorporated under the laws
of Australia and is listed on the ASX and the TSX, in each case, under the
symbol "TRY". Troy has been engaged in the acquisition, exploration,
development and operation of mineral properties since 1984. Troy's portfolio
includes gold projects in Brazil, Australia and Mongolia.
    Additional information relating to Troy is available on the company's
website at: www.try.com.au.

    This News Release does not constitute an offer to sell or the
solicitation of an offer to buy any ordinary shares within the United States.
The ordinary shares have not been offered and will not be registered under the
United States Securities Act of 1933, as amended (the "1933 Act"), or any
state securities laws. Accordingly, the ordinary shares may not be offered or
sold in the United States or to U.S. persons (as such terms are defined in
Regulation S under the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws or an exemption from such registration is
granted.





For further information:

For further information: Mr Paul Benson, Chief Executive Officer, Troy
Resources NL, Perth, Western Australia, Tel: (6 18) 9481 1277, Email:
troy@troyres.com.au

Organization Profile

Troy Resources Limited

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