AERIS RESOURCES LIMITED — Capital/Financing Update 2012

Nov 15, 2012

ASX/MEDIA RELEASE

16 NOVEMBER 2012

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STRAITS RESOURCES LIMITED

(ASX: SRQ)

Investigation of Mt Muro Divestment Options

Straits Resources Limited (“Straits”) is undertaking a review of options to refocus its asset portfolio. Straits believes the value of its copper and gold businesses are not properly recognised in the market and that there is considerable benefit in examining a separation of the copper and gold businesses. Recently, various parties have approached Straits expressing interest in potentially acquiring Straits’ Mt Muro Gold-Silver Mine (“Mt Muro”). To assist Straits in considering all value enhancing options of separating its gold business, Straits has engaged Investec Bank (Australia) Limited to review and solicit interest for a potential divestment of Mt Muro. Selected parties will be invited to conduct due diligence and submit proposals.

A divestment or demerger of Mt Muro would separate Straits’ copper and gold assets and potentially enable greater management focus, flexibility and an investment re-rating. This decision marks the next phase for the successful ongoing development of Mt Muro.

Straits will provide updates on the process as appropriate.

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Alan Good

Non-Executive Chairman

For further information, please visit our website at www.straits.com.au or contact:

Mr Milan Jerkovic Mr Hugh Thomas Chief Executive Officer Managing Director Investment Banking Straits Resources Limited Investec Bank (Australia) Limited Phone: +61 8 9480 0500 Phone: +61 2 9293 2000

References in this report to “Straits Resources Limited”, “Straits” and “Company” include, where applicable, its subsidiaries.

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 and South Australia.

STRAITS RESOURCES LIMITED ABN 30 147 131 977 Level 1  35 Ventnor Avenue  West Perth WA 6005  Australia | PO Box 1641  West Perth WA 6872 T: +61 8 9480 0500  F: +61 8 9480 0520  E: info@straits.com.au  www.straits.com.au