ARGENT BIOPHARMA LIMITED — Board/Management Information 2012

Jun 20, 2012

ACN 116 800 269

ASX Announcement

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21 June 2012

KEY APPOINTMENTS MADE AND INITIAL EXPLORATION PROGRAMS UNDERWAY ON SENEGALESE GOLD PROJECTS

The Board of Health Corporation Ltd (“HEA or the Company”), which is proposed to be renamed Erin Resources Ltd (“Erin”) following successful completion of the merger as announced on 14 May 2012, is pleased to confirm the appointment of Mr Grant Davey as Managing Director of the Company, effective immediately.

This appointment has been made with the full support, and in consultation with the Board of Directors of Erin Resources Ltd and its key shareholders, with Mr Davey to assume the role of Managing Director of the merged entity. Erin holds joint venture interests in 7 early stage gold exploration projects in south eastern Senegal along the prospective Birimian Greenstone Belt (Figure 1).

Mr Davey is a Mining Engineer with over 20 years gold experience having worked in senior operational roles in Africa and Australia with AngloGold Ashanti, Anglo Coal and Forbes & Manhattan. Mr Davey was contracted by the Company earlier this year to oversee the technical and project due diligence process on Erin’s Senegal joint venture properties and headed the Company’s negotiations on the merger transaction with Erin.

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Figure 1 – Senegal Erin Gold Properties

Health Corporation Ltd

Level 21, Allendale Square, 77 St Georges Terrace, Perth WA 6000 T: +61 8 9389 2000 F: +61 8 9389 2099 www.healthcorporation.com.au

Mr Davey has travelled to Senegal twice in the past two months as part of the extensive due diligence process on Erin and its gold exploration assets, that included meetings with key government officials, exploration company’s operating around Erin’s assets and inspection of the projects. Mr Davey said: “I am excited by the potential to find gold on our properties on the prospective Birimian Greenstone Belt in south eastern Senegal. Prospective exploration properties within close proximity to established explorers and producers including Teranga Gold Corporation, Bassari Resources, Papillon Resources, Iamgold Corporation and Randgold Resources, together with good infrastructure and favourable government mining regulation make south east Senegal an emerging gold exploration region”.

Initial Exploration Program Underway

An exploration programme consisting of a RC (1,400m) and RAB (5,000m) drilling programme on Woye and RAB (4,000m) on Belouborou was started on 19 May 2012 and is expected to be complete by the end of July 2012. In addition Erin has commenced an infill soil geochemistry program on the Woye, Wassadou South, Lingokoto and Garaboureya South properties as well. The purpose of these exploration programmes is to establish mineralised exploration targets for the 2012‐2013 drilling season which will commence in November 2012 after the end of the wet season.

To manage the exploration activities in Senegal, Mr Mark Fleming has been appointed as Exploration Manager. Mr Fleming has extensive African experience having worked in Africa for the last 10 years in senior geology operational roles.

In addition, Mr Daniel Courtney has been appointed as Senior Site Geologist. Mr Courtney has vast experience in the south east Senegalese Birimian Greenstone Belts where he has worked for Oromin over the last 7 ½ years in Senegal.

For and on behalf of the Board

Health Corporation Ltd Level 21, Allendale Square, 77 St Georges Terrace, Perth WA 6000 T: +61 8 9389 2000 F: +61 8 9389 2099 www.healthcorporation.com.au

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