AERIS RESOURCES LIMITED — Capital/Financing Update 2012

May 1, 2012

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Straits

2 MAY 2012

ASX / MEDIA RELEASE

STRAITS RESOURCES LIMITED (ASX: SRQ)

Status of Hillgrove Sale

As previously advised, Straits is party to a sale agreement with Emu Nickel NL (changing its name to Ancoa NL) for the sale of the Hillgrove Mine. The terms of the sale are subject to a successful capital raising by Emu. Emu has advised that it is still investigating its position based on a rush of late interest in their capital raising, and we are in discussion with them about a possible extension of time. We will update the market further as these discussions develop.

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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 .

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