AERIS RESOURCES LIMITED — Capital/Financing Update 2012

May 10, 2012

ASX / MEDIA RELEASE

11 MAY 2012

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO US PERSONS

==> picture [68 x 67] intentionally omitted <==

Straits

STRAITS RESOURCES LIMITED (ASX: SRQ)

INSTITUTIONAL PLACEMENT TO RAISE A$30 MILLION

Straits Resources Limited (ASX: SRQ) (Straits or the Company) is pleased to announce the placement of 48.4 million new fully paid ordinary shares to sophisticated and professional investors at an issue price of A$0.62 per share to raise approximately A$30 million (Placement).

Euroz Securities Limited acted as Sole Lead Manager of the Placement.

==> picture [117 x 69] intentionally omitted <==

Milan Jerkovic

Chief Executive

For further information, please contact either:

• Mr Milan Jerkovic – Chief Executive Officer

• Mr Dave Greenwood – Corporate Affairs

on +61 8 9480-0500, or visit our website at www.straits.com.au.

Media Inquiries:

• Mr Derek Besier – Farrington

• on +61 2 9332 4448.

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

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

6380982/1