£1,041,690 fundraising completed

GB00B23JN426/GBP/PLUS-exn
                                                                                               28 June 2010

                                           Oracle Coalfields Plc
                                        ("Oracle" or the "Company")

                                     £1,041,690 fundraising completed

          Funds allow additional working capital for completion of the Bankable Feasibility Study

The  Board  of Oracle Coalfields PLC (PLUS: ORCP), the UK developer of a 1.4 billion tonne coal deposit  in
southern Pakistan, is pleased to announce that the Company has successfully raised £1,041,690 via a placing
of 34,722,999 new ordinary shares of 1p each in the Company ("Placing Shares") at a placing price of 3p per
ordinary share (the "Placing").

The net proceeds of approximately £1.0 million from the Placing will provide additional working capital for
the  business to complete the Bankable Feasibility Study (BFS) on its flagship project in Block VI  of  the
Thar coalfield in the eastern Sindh province, Pakistan.  Block VI is host to a JORC resource of 1.4 billion
tonnes of lignite coal including 371 million tonnes in the proven reserve category.

The  Placing was coordinated by Libertas Capital Corporate Finance Limited who have agreed to take most  of
their  fee  in the form of a £50,000 loan note and the issue of 5,833,333 new ordinary shares, representing
3.58  per cent of the Company's issued share capital as enlarged by the Placing.  The loan note is interest
free and repayable on the earlier of a liquidity event or 12 months.

The  Shares  were  placed with both new and existing institutional and private investors.  The  Placing  is
conditional  on  admission  of the Placing Shares to trading on PLUS. It is expected  that  Admission  will
become effective and that dealings in the Placing Shares will commence at 8.00 a.m. on 29 June 2010.

The Placing Shares will represent approximately 21.31% of the enlarged issued share capital of the Company.
The  Placing Shares will be fully paid and will rank pari passu in all respects with the existing  ordinary
shares of 1p each in the Company.  The total number of ordinary shares in issue following completion of the
Placing  will  be  162,916,000, of which the Directors are interested in 29,638,291 shares which  represent
18.19% of the issued share capital.

The  above  figure  of  162,916,000  ordinary shares may be used by shareholders  in  the  Company  as  the
denominator for the calculations by which they will determine if they are required to notify their interest
in, or a change to their interest in, Oracle under the FSA's Disclosure and Transparency Rules.

Shahrukh Khan, Chairman of Oracle Coalfields commented:

"I  would  like  to thank our shareholders for their continued support. Despite the challenging  investment
markets,  the  funds raised will provide the additional working capital to complete the  Bankable  Feasible
Study stage and confirm the potential of the project and subsequent development.

"To  generate short-term cashflow, we signed an MOU in January 2010 with Lucky Cement Limited, one  of  the
major  cement  companies in Pakistan with the aim to enter a Coal Supply Agreement.  Currently,  the  major
manufacturers import coal at international prices. As a result, a number of these cement manufacturers  are
keen to switch to domestic coal supplies and are prepared to enter long term supply agreements.

"The  Company  also  entered into an MOU with Karachi Electric Supply Company (KESC), a major  local  power
utility,  with the aim of establishing a Joint Development Agreement for the development of  a  mine  mouth
power plant.

"We  are moving forward in our ambition to become a leading coal producer in Pakistan.  We hope to play  an
effective role in providing a substantial supply of indigenous feedstock for the country's desperate energy
needs as well as save the country from the foreign exchange burden of imported fuel.

"I  look  forward  to  updating  our shareholders on our progress in the forthcoming  AGM,  to  be  advised
shortly".

                                                                                               28 June 2010

The Directors of Oracle are responsible for the contents of this announcement.

ENQUIRIES:

Oracle Coalfields PLC
Shahrukh Khan, Chairman
Telephone: [phone]
Email: [e-mail]

St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Telephone: [phone]

St. Swithins PR Limited
Gary Middleton
Telephone: [phone]

Oracle Coalfields plc