CONNECTED MINERALS LIMITED — Capital/Financing Update 2013

Jan 20, 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

21[st] January 2013

Companies Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

Due Diligence Completed

The Board of Leopard Resources N.L (ASX: LRR, “the Company”) is pleased to advise that further to its ASX release on the 10[th] December 2012, it has completed its due diligence to acquire a 100% interest in exploration licence E37/747 which contains two established gold prospects known as Cables and Mission and consists of 34 graticular blocks (“Tenement or Project”). The Tenement has a mineralized structure which is extensive and drilling has encountered significant intersections of primary and supergene gold mineralization. The Project is subject to shareholder and regulatory approval.

Consideration

LRR intends to issue a Notice of meeting for its shareholders to consider and if appropriate approve completion of the proposed transaction to acquire a 100% interest in the Tenement. The purchase consideration for the Project is 130,000,000 shares.

Mission Cables Gold Project:

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Location:

The Tenement is located about 40-70 kilometres east-northeast of Leinster town site, in the Mount Margaret Mineral Field. The Tenement forms part of the Yandal Belt area which has been a major gold producing region for many years with deposits such as Jundee/Nimary (historical production of 7.3Moz), Bronzewing (3.6Moz), Darlot (3Moz) and Mt McClure (1.8Moz). The 3Moz Darlot/Centenary Gold Mine (operated by Barrick Gold) is located seven kilometres south of the Prospects.

Tenement Geology:

The Tenement is situated within the Yandal Greenstone Belt, in the Eastern Goldfields Province in Western Australia. The main lithologies present within the Tenement are Achaean mafic, felsic and sedimentary rocks of the Yandal Greenstone Belt, overlain by Cainozoic colluvial, alluvial and lacustrine sediments.

Results to date:

The Company has received significant data on the Project area which includes extensive drilling data including high grade gold intersections (See tables below). The Company expects to undertake an exploration program to define the potential for a JORC Code compliant mineral resource estimate. Aircore drilling at the Cables Prospect defined a significant northwest-trending base-of-weathering supergene gold anomaly extending over 1,000m of strike. The central core of the anomaly was associated with sub-vertical mineralised structures within a 100-200m wide zone of alteration and shearing hosted by dolerite, over 400m of strike. A strong nugget effect was evident from standard and duplicate sampling results.

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. Mineralisation is associated with quartz veining and/or sericite-chlorite+/carbonate-pyrite alteration. Late northeast-trending faults dextrally offset the mineralised structures.

Historical aircore drilling at the Mission Prospect defined a significant north-to-northwest trending base-of-weathering supergene gold anomaly extending over 400m of strike. The anomaly was associated with two mineralised structures bounding a major shear zone within dolerite.

RC drilling at the Mission Prospect defined two narrow, north- to northwest-trending, sub-vertical mineralised structures over 400m of strike. The parallel structures bound a major 30m wide shear zone within dolerite. Mineralisation was associated with quartz veining and/or sericite-chlorite+/carbonate-pyrite alteration.

Mission Prospect – Significant RC Drill Intersections over 2.0g/t Au

Hole	Northing	Easting	Intercept	From (m)	Comment
ADRC001	6923500	329070	3m @ 2.09g/t Au	146
ADRC003	6923500	329120	2m @ 5.18g/t Au	48
ADRC004	6923500	329150	1m @ 75.65g/t Au	48
ADRC005	6923460	329145	3m @ 11.40g/t Au	60	including1m @ 29.65g/t Au from 60m
ADRC006	6923440	329110	3m @ 11.20g/t Au	104	including1m @ 24.60g/t Au from 104m
ADRC007	6923440	329135	2m @ 18.62g/t Au	74	including1m @ 20.00g/t Au from 75m
ADRC008	6923440	329156	3m @ 2.60g/t Au	44
			2m @ 28.29g/t Au	52	including1m @ 55.85g/t Au from 52m
ADRC009	6923380	329128	1m @ 6.35g/t Au	97
ADRC010	6923380	329152	2m @ 2.81g/t Au	43
ADRC012	6923341	329160	1m @ 5.95g/t Au	65
ADRC013	6923341	329192	1m @ 4.54g/t Au	36
ADRC046	6923420	329105	1m @ 2.10g/t Au	34
ADRC047	6923460	329175	1m @ 4.10g/t Au	41
ADRC048	6923460	329130	1m @ 5.08g/t Au	43
			1m @ 6.64g/t Au	74
ADRC051	6923660	329115	7m @ 11.35g/t Au	84
ADRC052	6923480	329145	2m @ 9.45g/t Au	54	including1m @ 14.00g/t Au from 54m
ADRC053	6923480	329135	1m @ 2.32g/t Au	46
			1m @ 72.42g/t Au	69

Cables Prospect – Significant RC Drill Intersections over 2.0g/t Au

Hole	Northing	Easting	Intercept	From (m)	Comment
ADRC015	6922858	328278	3m @ 16.75g/t Au	64	including 1m @ 36.00g/t Au from 64m
ADRC017	6922918	328270	3m @ 3.03g/t Au	114
ADRC018	6922918	328345	4m @ 4.87g/t Au	76
ADRC019	6922918	328395	4m @ 18.85g/t Au	182	including1m @ 72.20g/t Au from 185m
ADRC022	6923110	328184	1m @ 12.60g/t Au	62
			7m @ 27.53g/t Au	133	including1m @ 77.60g/t Au from 136m
ADRC023	6923110	328208	2m @ 6.94g/t Au	122
ADRC025	6922983	328215	1m @ 3.05g/t Au	153
ADRC027	6923058	328250	4m @ 41.96g/t Au	78	including1m @ 107.50g/t Au from 80m
ADRC028	6923119	328167	1m @ 2.57g/t Au	85
ADRC029	6923062	328182	3m @ 6.63g/t Au	40
ADRC030	6923059	328236	3m @ 6.36g/t Au	49	including1m @ 16.10g/t Au from 50m
ADRC032	6922980	328282	1m @ 4.58g/t Au	49
ADRC033	6922979	328311	3m @ 5.72g/t Au	108	including1m @ 13.40g/t Au from 108m
ADRC034	6922921	328258	1m @ 2.51g/t Au	65
ADRC038	6922860	328367	2m @ 3.76g/t Au	87	including1m @ 7.52g/t Au from 87m
ADRC039	6922860	328391	9m @ 1.58g/t Au	71	including1m @ 5.53g/t Au from 72m
ADRC041	6922801	328349	1m @ 4.47g/t Au	117
ADRC043	6923169	328167	2m @ 23.94g/t Au	69
ADRC058	6923110	328036	1m @ 30.83g/t Au	125

The Company and its geological consultants are currently evaluating the proposed next stage of development which will focus on the potential to identify a JORC Code compliant mineral resource estimate. This includes geochemical sampling, air core and RC drilling to evaluate the strike extensions, resource mapping, technical review of all historical data, change in drilling direction to NE or SE for better drill intersections across the structures and acquisition of any additional ground where practical to evaluate mineralization extensions.

Yours faithfully

A R Hamilton

Director

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.