CONNECTED MINERALS LIMITED — Capital/Financing Update 2012

Aug 23, 2012

Leopard Resources NL

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PO Box 8 • West Perth • Western Australia • 6872 T: +61 (0)8 9381 2517 F: +61 (0)8 9381 5853 ABN 99 009 076 233

24 August 2012

Companies Announcements Office

ASX Limited 20 Bridge Street Sydney NSW 2000 Market Release (via Electronic lodgement)

Market Update – Convertible Loans

The Board of Leopard Resources NL (ASX: LRR, “ Leopard ” or “ the Company ”) is pleased to announce the following:

The Company has negotiated convertible loan agreements with sophisticated professional investors in relation to the placement of up to $ 1.5miillion. These loans will be put for conversion to the shareholders at the next general meeting.

The convertible notes have the following key terms:

• 1. Coupon Rate 10% per annum
• 1. The notes convert at shareholder approval at $0.005 per share with an attached 1 for 1 unlisted option exercisable at $0.01 expiring 30[th] June 2014

The company is continuing with preparation of a prospectus to raise additional funding for its previously announced Lithium project in the Salta province of North Western Argentina. Further announcements in relation to the project are anticipated in the coming weeks.

Yours faithfully

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Damon Sweeny Company Secretary Leopard Resources N.L