CONNECTED MINERALS LIMITED — Capital/Financing Update 2013

Apr 8, 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

9th April 2013

Companies Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

RESOURCE DRILLING PROGRAM

Below please find an amended version of the announcement released on 3 April. This version has made corrections so that it now conforms to the requirements of the JORC code 2004.

Yours faithfully

DAMON SWEENY

Company Secretary

RESOURCE DRILLING PROGRAM

The Board of Leopard Resources N.L (ASX: LRR, “the Company”) is pleased to advise that further to its ASX release on the 6[th] February 2013 that a drilling and exploration program will commence at the Missions and Cables prospect, at Exploration Licence E37/747. The aim is to determine and calculate a JORC Code compliant Indicated Resource and increase the total mineralisation target. The Company recently announced a JORC Code compliant Inferred Resource estimate of 1.2 Million tonnes at an average grade of 2.79 g/t Au (109,900 oz), based on previous drilling of the mineralised structure.

Mission-Cables Gold Project:

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Figure above: LG Shells over Cables Block model block grade distribution.

Tenement Location and Geology:

The Project Exploration Licence E37/747 is located about 60 kilometres east-northeast of Leinster town site, in the Mount Margaret Mineral Field approximately 7 Kms north of the Darlot –Centenary Gold Mine. The tenement is situated within the Yandal Greenstone Belt, in the Eastern Goldfields Province in Western Australia. The main lithologies present within the tenements are Achaean mafic, felsic and sedimentary rocks of the Yandal Greenstone Belt, overlain by Cainozoic colluvial, alluvial and lacustrine sediments.

Drilling Resource and Exploration Program:

In order for the Company to upgrade the resource categories it is proposed, subject to the funding being completed and shareholder approval that the following work be undertaken, namely:

• Preliminary metallurgical test work to determine recoveries for gold.

• Drill a number of newly identified prospective targets within the Cables prospect for additional mineralisation.

• Continue database validation.

• Complete detailed statistical analysis of assay data.

• Determine the physical characteristics, dimensions and structural controls to high grade mineralised zones for future ore body modelling.

• Complete flitch interpretation of mineralisation, then wire frame to create solids for ore body modelling and resource estimation.

• Carry out geotechnical logging of weathering and hardness components for future open pit optimizations.

• Determine if sample bias, coarse gold, is present and review assay methods.

• Infill DD drilling is required at both Prospects aiming to calculate JORC Code compliant Indicated Resource estimates.

• The Cables Prospect lies vertically above an interpreted flexure in the basal major fault/thrust, an equivalent position to that observed in the Repulse Fault below the Victory-Defiance Pit, Kambalda. This position therefore represents an exploration target, at depth (>400m).

• Small areas of magnetic dolerite adjacent to northwest-trending reverse faults located immediately south/southeast of Cables Prospect and at the Missions Prospect remain untested and warrant investigation by aircore drilling.

• Multi-element analysis of existing core samples from the dolerite host is needed to confirm the degree and impact of fractionation of the dolerite (if any) on mineralisation.

Summary

The current extensive detailed information and drilling results suggests that there is potential to increase the tonnes and contained ounces to support a standalone operation based on the current data. However additional tonnes of mineral resource required to support a standalone operation in excess of 109,900 oz Au of estimated JORC Code compliant Inferred mineralisation would be required to be sourced from within the tenement by further definition drilling about the current deposits and reconnaissance drilling of untested anomalous areas. The Cables Prospect has a number of untested targets which could support additional tonnes and contained ounces with the company targeting a range of tonnes from 3.0 to 4.0Mt at a range of grades from 2.5 to 3.0 g/t Au, giving a 190,000 - 380,000 oz Au total exploration target estimate. This estimate is based on the results of previous drilling combined with structural and lithological 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. This statement is made in accordance with the requirements of Clause 18 of the JORC Code 2004.

RC drilling at the Cables Prospect defined at least two narrow, northwest-trending, sub-vertical mineralised structures over 400m of strike, bounding a 100-200m wide zone of alteration and shearing within dolerite. The drilling of 30 RC holes – 4350 metres across the 400 metre strike length on drill spacing of 50 to 60 metre lines has provided an initial JORC Code Inferred Resource estimate of 1.02 million tonnes @ 2.96gt (97,500 ounces). RC drilling at the Mission Prospect defined two narrow, north- to northwest-trending, sub-vertical mineralised structures over 380m of strike. The drilling of 23 RC holes – 2,848 metres across the 380 metre strike length on drill spacing 20 to 40 metre lines has provided an initial JORC Code Inferred Resource estimate of 201,000 tonnes @ 1.9gt (12,400 ounces)

More drilling is justified to close off the extent of the mineralisation both laterally and vertically. The presence of structural and geochemically anomalous gold zones proximal to the Darlot Gold mine, suggests by analogy that the Mission and Cables Prospect area is prospective for additional gold mineralisation. At both the Cables and Mission Prospects, mineralisation is confined to a dolerite host immediately adjacent to northwest-trending reverse faults, originating from an underlying shallow-dipping master fault/thrust. Primary mineralisation is confined to narrow sub-vertical structures bounding shear zones within the dolerite, and is associated with quartz veining and sericite-chlorite +/- carbonate-pyrite alteration of the host rock. A strong nugget effect is apparent, indicative of coarse gold. Secondary mineralisation occurs along the sub-horizontal base of weathering horizon and adjacent to the sub-vertical trace of primary structures through the saprolite profile.

Drilling to date has defined the width extent of mineralisation at both the Cables and Mission Prospects (each approximately 400m), has confirmed mineralisation extends vertically to approximately 250m below surface at both Prospects and that the mineralisation remains open at depth and along strike.

Corporate

The company has released its Notice of Meeting to seek shareholder approval of amongst other things, debt reduction, project acquisition, and funding, to be held on the 30[th] April 2013. The Company is currently working to raise up to $1.5 million, to provide the necessary funding to complete the next stage of drilling and development at the Mission and Cables gold project, the Nacimiento project and general working capital.

Yours faithfully

Executive Director

A R Hamilton

APPENDIX – RESOURCE ESTIMATION SUMMARY

Resource Estimation - Methodology.

A copy of the drill hole data files supplied by Leopard were reviewed with some adjustments to elevations made. Using the updated drilling data, a series of E-W sections, along drillhole profiles were constructed. The 0.1g/t Au outlines were digitised and subsequent sectional polygons constructed and assay values within them were captured into a separate drill hole data base.

An empty block model for each deposit was made and the assay data imported into each block model using MineMap software. The cell sizes used in both models were 10m (N-S) x 3m (E-W) x 10m (vertical). Grades were assigned to blocks from these sections using two sets of ellipsoids.

Two separate search ellipsoids were used for both deposits and two different inverse distance algorithms. The first ellipsoid was set at 50 metres in the X direction (E-W), 175 metres in the Y direction (N-S) and 20 metres in the Z direction (Vertical) with a -75 degree dip orientation to the west for Mission and -75 degree dip orientation to the east for Cables with an inverse distance algorithm to the power 2.5.

The second ellipsoid was set at 15 metres in the X direction, 30 metres in the Y direction and 12 metres in the Z direction with the same -75 degree dip orientation for Mission and Cables with an inverse distance squared algorithm. A nominal bulk density 2.5 tonnes per m³ was used.

Assigning grades to blocks in a model on a section by section basis using inverse distance algorithms is certainly not the most “sophisticated” method available for resource estimation but it does have the advantage of simplicity and speed. The resulting resource volume is likely to be somewhat larger than that which would be obtained by wire-framing.

However, given the gaps in the drill hole data available and the task at hand, the sectional method was considered the most appropriate for resource estimation. No upper-cut was applied to the data written out from within the polygons and used in the models. The use of an upper-cut will need to be reviewed statistically in any further modelling work.

Following the assignment of grade to blocks in the model its surface was “mined off” to reflect the topography. The topography was generated by triangulating and contouring the drill hole collars elevations. Global Inferred Mineralisation Resource estimates from initial modelling are tabulated below.

Area	Resource Type	Cut Off Grade g/t Au	Tonnes	Average Grade g/t Au	Theoretical Ounces
Mission	Inferred	0.6g/t Au	201,000	1.93	12,400
Cables	Inferred	0.6g/t Au	1,020,000	2.96	97,500

Table 1:- Block Model Inferred Resource Estimates

The information in this release which relates to 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.