AERIS RESOURCES LIMITED — Capital/Financing Update 2012

Jun 11, 2012

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Straits

12 June 2012

ASX/MEDIA RELEASE

STRAITS RESOURCES LIMITED (ASX: SRQ)

New Sulphide Discovery at the Kurrajong Prospect. Confirming the Exploration Model for the Tritton Copper Region

Straits Resources Limited (Straits) is pleased to announce that exploration drilling has intersected significant sulphide mineralisation whilst testing coincident magnetic, geological and geochemical anomalies at the Kurrajong prospect.

Kurrajong is located approximately 20km east of Tritton and 12km south of Girilambone and has previously been drilled with 29 shallow RC holes searching for copper oxide mineralisation in the 1990’s (Figures 1 & 2). The area has a number of shallow shafts with copper carbonates identified around the collars of the workings. The drilling at the Kurrajong prospect represents the first review of this area since the development of a new conceptual exploration model that has been successfully applied at the Avoca Tank prospect.

In the first three diamond holes drilled at Kurrajong a number of stacked sulphide lenses (disseminated & in places semi-massive) have been intersected over a strike length of approximately three hundred metres (Figure 3). The lenses range in thickness from 2 to 25 metres and mineralisation is open along strike and at depth. The completed holes have intersected mineralisation analogous to VMS “Besshi” style mineralisation that is typical of the Tritton region. Assay results for the first three holes are awaited.

Lithologies identified include a volcaniclastic sequence of coarse greywacke / psammitic sediments with weak / moderate banded and disseminated sulphides (predominantly pyrite with associated sphalerite and chalcopyrite). As at Avoca tank the mineralisation is in close proximity to an underlying mafic volcanic unit and is hosted within strongly silicified and chloritised altered sediments. A number of sub vertically dipping zones were identified within the sequence, which correlate well with the position of the near surface oxides.

Downhole EM conducted in TKJD002 has identified a strong offhole conductor down plunge and to the NE of the hole and this target as well as the strike extent will be tested by drilling in the next month. Further offhole conductors were identified in Downhole EM conducted in TKJD001 (Figure 4).

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Details for the drill holes completed to date:

Hole_id	Prospect	X	Y	Z	Depth(m)	Azimuth	Dip
TKJD001	KURRAJONG	492578	6530807	210	296	325	-60
TKJD002	KURRAJONG	492853	6530955	210	420	325	-60
TKJD003	KURRAJONG	492655	6530905	210	420	325	-60

Note: Co-ordinates in AMG (AGD66) zone 55.

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Figure 1- Regional diagram showing location of the Tritton mines and Mafic Complexes

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Figure 2- Diagram showing the Kurrajong drilling over a 1VD magnetic greyscale image. Magnetic high to the north of the Kurrajong drilling identifies the Kurrajong Mafic Complex

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Figure 3 - Detailed plan of the three completed diamond holes in relation to historical oxide drilling.

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Figure 4 – Sulphide lenses intersected and down hole EM conductors

The quality of the remaining regional targets in the Tritton area is considerable and the potential for further discoveries in this large VMS mineralised field is excellent. The prospectivity has been enhanced by the high grade sulphide discovery at Avoca Tank in late 2011 and now the new sulphide mineralized zones intersected in the first three diamond holes at the Kurrajong Complex.

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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 by Mr. Ivan Jerkovic who is a Member of the AusIMM no. 202260 (Australasian Institute of Mining and Metallurgy) and the AIG no. 3099 (Australian Institute of Geoscientists). 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 and South Australia.