Leed Resources plc

("Leed" or "the Company")

Half-yearly report for the six months ended 31 December 2014

Leed Resources plc, (AIM: LDP), the natural resource investment company, is pleased to announce its un-audited results for the six months to 31 December 2014.

Chairman's statement

I have pleasure in presenting the half-yearly results for the Company for the 6 months to the end of December 2014.  As well as progressing the negotiations leading to our investment in Battalion / High Mannor, announced on 8 January 2015, the Board has been continuing its focus on containing costs where it can. We also have proposed to shareholders a revised investment policy which I am pleased to say was approved on 12 February 2015.

Battalion / High Mannor

An initial investment of Aus$1.2m (approx. £0.65m) was made in the form of a secured convertible loan note initially yielding 12%.

High Mannor's business is the quarrying of limestone and its processing into re-constituted blocks for the construction industry in Western Australia.

As previously mentioned, PG Mining Management ("PGMM") has acted as our mineral consultants in regard to High Mannor. Management at High Mannor was already undergoing change at the time of our investment and in early February it was agreed to bring the management of High Mannor and its key shareholders closer together. In line with the ongoing investigative and developmental role that PGMM is providing to Leed, PGMM's COO, Tim Armstrong, began to spearhead the operational management of the High Mannor and this has led to a programme of streamlining and upgrading the existing business.

This in turn should lead to increased production and create an overall firmer footing before the arrival of the wall panel moulds from China.

Revenues for High Mannor in the shorter months of December and January were a healthy A$1.05m, increasing to A$1.45m in February which resulted in a modest profit.

The arrival of the first batch of moulds has been delayed slightly owing to the need to make minor modifications and the Chinese New Year also impacted production. However, the first batch of five moulds is scheduled to be shipped in early April arriving in Perth in late April, with further batches scheduled to arrive ten days later. We therefore remain confident that the business will progress further and provide good returns to High Mannor's shareholders and convertible loan note holders.

Manas

At Manas, there are signs that the main shareholders may be prepared to attempt a reconciliation of the licence dispute. Although too early to give any detail, the parties have spoken and it seems economic reality is helping to push them together. We will continue to actively work to try and recover value although it would be premature at this stage to reverse the impairment charge which we made in respect of Manas in 2013.

On behalf of the Board, I take this opportunity to thank shareholders for their patience and commitment to the Company. We envisage a positive outlook for the rest of the year and look forward to further updates on progress at High Mannor.

Jinesh Patel

Chairman

24 March 2015

Unaudited statement of comprehensive income
for the six months ended 31 December 2014

Unaudited statement of changes in equity
for the six months ended 31 December 2014

Statement of financial position
as at 31 December 2014

Unaudited statement of Cash Flows
for the six months ended 31 December 2014

Notes to the interim accounts

for the six months ended 31 December 2014

1. General information and accounting policies

Leed Resources PLC is a company incorporated in the United Kingdom.

These unaudited condensed interim financial statements for the six months ended 31 December 2014 have been prepared in accordance with IAS 34 "Interim Financial Reporting" as adopted by the European Union and do not constitute statutory accounts as defined in Section 434 of the Companies Act 2006. This condensed set of financial statements has been prepared applying the accounting policies that were applied in the preparation of the Company's published consolidated financial statements for the year ended 30 June 2014.

The comparative statement of financial position at the financial year ended 30 June 2014 has been extracted from the Company's statutory accounts which have been reported on by the Company's auditor and delivered to the Registrar of Companies.  The report of the auditors was unqualified and did not contain a statement under the Companies Act 2006 regarding matters which are required to be noted by exception.

2. Issued capital

A recap of issued capital follows:

The restricted rights attaching to the deferred shares are such that the deferred shares have no economic value.

3. Loss per Ordinary Share

The loss per share has been calculated based on the following results and weighted average number of shares:

4. Fixed asset investments

The company operates as an investment company in the natural resources industry.

LEVEL 1 - Where financial instruments are traded in active financial markets, fair value is determined by reference to the appropriate quoted market price at the reporting date. Active markets are those in which transactions occur in significant frequency and volume to provide pricing information on an on-going basis.