Boart Longyear Launches Drilling Equipment Financing Group

SOUTH JORDAN, UT, USA - Boart Longyear (www.boartlongyear.com, ASX: BLY) announces a new business division, Boart Longyear Financial Services (BLFS) group. Through a partnership with Ecologic Leasing Services, BLFS now offers customers competitive financing solutions for Boart Longyear mineral exploration drilling equipment. All Boart Longyear drilling capital equipment technologies are included in the new program: multi-purpose, production, reverse circulation, rotary, sonic, and surface and underground coring.

“This new division provides customers who qualify with innovative financing options for the world’s leading mineral exploration drilling technologies. We are pleased to offer this service in response to requests from our customers,” states Boart Longyear President and Chief Executive Officer Mr. Craig Kipp.

Boart Longyear Financial Services’ financing offerings are now available to customers in the USA and Canada. In the coming months, the service will also become available in Australia and Chile, and continued global expansion will continue through 2012.

About Boart Longyear

Boart Longyear is a 120-year-old global mineral exploration company that provides mineral exploration services and drilling products for the global mining industry and also has a substantial drilling presence for water exploration, environmental sampling, energy, and oil sands exploration.

Headquartered in Salt Lake City, Utah, with 2010 sales of US$1.476 billion and over 10,000 employees worldwide, the company conducts contract drilling services in 40 countries, and provides mining products to customers in over 100 countries. Regional offices and operations are located in Adelaide – Australia, Geneva – Switzerland, Mississauga – Canada, and Santiago - Chile.