AERIS RESOURCES LIMITED — Capital/Financing Update 2011

Aug 14, 2011

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Straits

15 AUGUST 2011

ASX/MEDIA RELEASE

STRAITS RESOURCES LIMITED (ASX: SRQ)

Straits Resources Limited Announces New Massive Sulphide Discovery at the Avoca Tank Prospect First Drill Hole TATD001 has Returned Excellent Copper Grade and Thickness

Straits Resources Limited is pleased to announce that exploration drilling has intersected significant copper mineralisation while testing coincidental magnetic / IP anomalies at the Avoca Tank prospect. Avoca Tank is located approximately 2km north of the Girilambone North mining area and has previously been drilled with shallow RC holes searching for copper oxide mineralisation in the 1990’s. Historically a small oxide resource was identified but the sulphide potential had never been evaluated.

Diamond hole (TATD001) has intersected two discrete massive sulphide lenses as follows;

Hole Id	East AMG	North AMG	Dip	Azi(mag)	From(m)	Width(m)	Cu %	Zn %	Aug/t	Ag g/t
TATD001	484667	6548513	-60	240	155193	1223	1.784.26	0.151.00	0.690.76	12.218.2

Note: (0.5% Cut-off grade, max 3m internal dilution) Datum AGD66

The mineralisation is associated with a 50 metre thick hanging wall zone of magnetite / chlorite alteration and a footwall mafic volcanic unit. The VMS (volcanic massive sulphide) “Besshi style” mineralisation is analogous to the Tritton orebody and is untested to the south and down dip. A diamond drill program is currently in progress to scope out the dimensions of the mineralisation.

The drilling of the Avoca Tank prospect represents the first significant mineralised system identified since regional exploration activities recently recommenced at the Tritton Operations. The quality of remaining targets is considerable and the regions prospectivity is highlighted by what appears to be a substantial new sulphide discovery intercepted with the second hole of the programme. The knowledge gained from the drilling of the deeper portions of the Tritton system along with the reinterpretation of mineralisation, alteration and geological settings has increased our understanding of these mineralised systems. Consequently the potential for further discoveries in this large VMS mineralised field is substantial.

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Above diagram showing IP Chargeability overlaying airphoto showing the Murrawombie to NE trend. The diagram shows the first 2 target areas that have been drilled i) Avoca and ii) Avoca Tank. The two inset diagrams show IP images and magnetic data with two different processing techniques.

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The following Drill Core photographs are from TATD001, the photos start at 192.35 metres and the series ends at 209.37 metres down hole. Intercept from 193 metres, 22mtrs @ 4.26% copper, 0.76g/t gold & 18g/t silver . The True width and extent of mineralisation will be determined with further drilling. A drill rig has been dedicated to this programme.

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For further information, please contact:

Mr. Milan Jerkovic – Chief Executive Officer or

Mr. Dave Greenwood – EGM External Affairs and Exploration Tel: +61 8 9480-0500, or visit our website at www.straits.com.au

Competent Persons Statement

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled and/or reviewed by Mr. Ivan Jerkovic who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Jerkovic is a full time employee of Straits Resources Limited and has sufficient experience relevant to the style of mineralisation, type of deposits under consideration and to the activity being undertaking to qualify as Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Jerkovic consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Forward-Looking Information

Certain statements contained in this press release constitute forward-looking statements or forwardlooking information. The words “intend”, “may”, “would”, “could”, “will”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. These statements are based on certain factors and assumptions and while Straits considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are given only as at the date of this release and Straits disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Straits Resources

Straits Resources Ltd (ASX Code: SRQ) is a mining and exploration company focused on copper and gold in Australia and Asia. Straits owns and operates the Tritton copper mine in NSW and the Mt Muro gold mine in Indonesia and has an exciting exploration portfolio focusing on projects in NSW (through Goldminco) and South Australia.