AERIS RESOURCES LIMITED — Capital/Financing Update 2012

Nov 8, 2012

ASX / MEDIA RELEASE

9 NOVEMBER 2012

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Straits

STRAITS RESOURCES LIMITED (ASX: SRQ)

HILLGROVE SALE PROCESS

Further to past announcements, Straits has been in discussion with a number of interested parties in relation to a potential divestment of the Hillgrove Antimony Mine (currently on care and maintenance).

In order to progress discussions, Straits has agreed to enter a short term, exclusive arrangement with Bracken Resources Pty Ltd. Under this arrangement, Bracken will have the right to complete its due diligence with a view to acquiring the Mine within 90 days. Bracken will pay non-refundable option fees of $1 million immediately, another $1 million after 45 days and $1 million on exercise, to continue this review. The arrangement will provide Bracken the option to purchase the mine for $27 million cash plus replacement of $4m in bonds, in addition to its option fee payments.

Further advice to the market will be provided if and when Bracken gives formal notice of its intention to purchase Hillgrove or otherwise.

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Milan Jerkovic Chief Executive

For further information, visit the Straits website at www.straits.com.au or contact:

Mr Milan Jerkovic

Chief Executive Officer Phone: 61 8 9480-0500

Mr Matthew Smith

Acting Chief Financial Officer and Company Secretary Phone: 61 8 9480-0500

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