AERIS RESOURCES LIMITED — Capital/Financing Update 2013

Nov 24, 2013

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Straits

25 NOVEMBER 2013

ASX/MEDIA RELEASE

STRAITS RESOURCES LIMITED

(ASX: SRQ)

EARLY REPAYMENT OF $2.1m LOAN BY MAGONTEC

Straits is pleased to announced that it has reached agreement with Magontec Ltd (Magontec) (ASX: MGL) for the early repayment of a $2.1 million loan owed to Straits. The agreement with Magontec includes the following undertakings:

• Straits is the holder of Convertible Notes (CLN’s) in Magontec with a face value of $6.869 million. Straits will convert CLN’s with a face value of $5.908 million into approximately 112 million Magontec shares prior to 15 December 2013. Following conversion Straits’ holding in Magontec will rise to 152.536 million shares, equivalent to 19.9% of total issued capital;

• The repayment date for the $2.1 million loan by Straits to Magontec will be amended to 17[th] January 2014 (previously 31 December 2014); and

• Straits will be entitled to nominate the appointment of a non-executive director to the board of Magontec.

Straits Executive Chairman, Andre Labuschagne said “we continue to seek opportunities to simplify the Straits business and maximise the value from our non-core assets. This agreement enables us to accelerate the repayment of the loan whilst taking a more active role in the future development of our investment in Magontec.”

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Andre Labuschagne Executive Chairman

For further information, please contact:

Mr. Andre Labuschagne Executive Chairman Tel: +61 7 3034 6200, or visit our website at www.straits.com.au

Media: Annette Ellis Warrick Hazeldine Cannings Purple Cannings Purple Tel: +61 8 6314 6300 Tel: +61 8 6314 6300 aellis@canningspurple.com.au whazeldine@canningspurple.com.au