CONNECTED MINERALS LIMITED — Capital/Financing Update 2013

Jul 11, 2013

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

12[th] July 2013

Companies Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

RESOURCE DRILLING UPDATE

The Board of Leopard Resources N.L. (ASX: LRR, “the Company”) is pleased to advise that drilling at the Mission and Cables Gold Prospects on Exploration Licence E37/747 has commenced following approval of the Programme of Work application, “POW”. Samples will be progressively delivered to SGS Australia Pty Ltd for gold assay.

The current program is part of 3,500 metres of RC drilling with the objective to upgrade and extend the currently defined Inferred Mineral Resource, as previously announced to ASX on 6[th] February 2013 with a 109,500 contained ounces of gold.

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The Company had previously announced a JORC Code compliant Inferred Mineral Resource Estimate for its prospects which totalled 1.22 million tonnes at an average grade of 2.8 g/t Au for 109,500 contained ounces of gold based on the previous 7,198 metres of drilling . The current drilling is also aimed to improve the level of geological knowledge and confidence concerning known high grade mineralisation to allow for inclusion in the existing inferred resource. .

The Company’s geological team has also submitted over 400 samples following completion of the grid-based program of soil geochemistry over targets defined by geophysical and structural interpretation. Analysis will be by the Mobile Metal Ion (“MMI”) method. This patented method of analysis generally produces higher resolution targets than conventional soil sample assay methods. The current program is designed to upgrade the categorisation of the resource and extend it. In addition a number of un-tested geochemically anomalies will be drilled.

The Company has estimated an exploration target of 3.0 - 4.0Mt at a grade of 2.5 - 3.0 g/t Au, for 190,000 - 380,000 oz Au as the total exploration target. This estimate is based on the results of previous drilling combined with structural and lithological data and the geometry of the known mineralisation. The potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a Mineral Resource in excess of that currently announced, and it is uncertain whether further exploration will result in the determination of additional Mineral Resources.

Corporate

The company is also pleased to advise that a new website is now fully functional and will be updated with news on the Company’s current projects. The Company acknowledges that in the 03[rd] and 09[th] April announcements the resources estimate for the Cables project was incorrectly listed as 1,020,000 tonnes at 2.96g/t for 97,500 theoretical ounces when it should have been listed as 1,020,000 tonnes at 2.96g/t for 97,100 theoretical ounces. The 22 May announcement incorrectly stated the total Mineral Resource Estimate as 1.2 Million tonnes at an average grade of 2.8 g/t Au for 109,900 contained ounces of gold, when it should have been 1.2 Million tonnes at an average grade of 2.8 g/t Au for 109,500 contained ounces of gold.

The Company confirms that the correct Mineral Resource Estimate is shown in the table below.

Yours faithfully

A R Hamilton Executive Director

Inferred Mineralisation Resource estimates from initial modelling are tabulated below.

Area	ResourceType	Cut OffGrade g/tAu	Tonnes	AverageGrade g/tAu	TheoreticalOunces
Mission	Inferred	0.6g/t Au	201,000	1.9	12,400
Cables	Inferred	0.6g/tAu	1,020,000	2.96	97,100

Table 1:- Block Model Inferred Resource Estimates

The information in this release which relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Allen Maynard, who is a Member of the Australian Institute of Geosciences (“AIG”), a Member of the Australasian Institute of Mining & Metallurgy (“AusIMM”) and independent consultant to the Company. Mr Maynard is the principal of Al Maynard & Associates Pty Ltd and has over 30 years of exploration and mining experience in a variety of mineral deposit styles. Mr Maynard has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Maynard consents to inclusion in the report of the matters based on his information in the form and context in which it appears.