ECHOIQ LIMITED — Interim / Quarterly Report 2012

Apr 29, 2012

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QUARTERLY ACTIVITIES REPORT March 2012

ASX Code: SEO

HIGHLIGHTS

• Sentosa has signed two non-disclosure agreements with unnamed parties with respect to properties in Indonesia and the Philippines.

• In accordance with the stated objectives in our prospectus Sentosa continues to evaluate acquisition targets in SE Asia and negotiate on high priority properties in both Indonesia and the Philippines.

• Sentosa has expanded its search for acquisition targets beyond SE Asia and is reviewing opportunities in Africa.

• The Company owns the Prospective Jaurdi Hills Property, Western Australia and continues to advance the project to a drill ready stage. A number of well developed gold in soil anomalies exist. Prospecting and in-fill soil sampling is continuing at the Jaurdi Hills Property. Tenement P16/2436 was relinquished.

CORPORTATE

• Sentosa Mining Limited listed on the ASX December 17, 2010 with the issue of 20,000,000 shares to raise $4 million.

• On November 22, 2011, Sentosa completed its Annual General Meeting (“AGM”). All directors stood for re-election. 3,000,000 options were granted to directors, and approval was given to allot and issue up to 20,000,000 shares by way of a capital raise.

JAURDI HILLS PROJECT, WESTERN AUSTRALIA

• The Jaurdi Hills Project is located approximately 40km northwest of Coolgardie. The town site of Coolgardie is located 550km east of Perth and 40km west of Kalgoorlie. The project tenements lie on the western flank of the Dunnsville/Doyle Dam Granodiorite Dome. The geology of the project area is dominated by the lower basaltic unit of the Dunnsville-Ubini Greenstone Belt (DUGB), which is intruded by several narrow dolerite and gabbro sills. The basalt sequence is underlain by komatiites which are mapped on the western margin of the project. The main structural features within the project area are the Jaurdi Shear Zone along the east side of the project and a northeast trending fault that passes approximately through the middle of the project separating the Dunnsville granodiorite dome in the north from the Doyle Dam granodiorite dome to the south.

• Gold (Au) mineralisation in the region is related to quartz veining. Mineralisation styles may be supergene, shear-hosted or controlled by lithological/weathering contacts. The contacts between basalt flows as well as dolerite and gabbro intrusive contacts are favourable sites for gold mineralisation. At the historic Jaurdi Mining Centre gold mineralisation is associated with 1-4m wide quartz veins in shears cutting basalt. Nearby

  • gold mineralisation at the Panther Prospect is associated with quartz stockwork at the faulted contact zone between a basalt and an ultramafic volcanic, while gold mineralisation at the Wealth of Nations Prospect is associated with a quartz vein at the contact between basalt and a metasedimentary unit.

• The project has been worked by a number of explorers in the past with most investigation focussed on drilling around the historic workings, testing extensions to known mineralisation and soil sampling to define new areas anomalous for gold mineralisation. Better and more recent results returned from drill testing around the known auriferous veins have included 4m at 7.8g/t Au (08WNP001), 5m at 1.91g/t Au (08WNP002) and 1m at 6.8g/t Au (06JRC002). Drilling at depth around the mine workings and anomalous soil sample areas is incomplete with further exploration required to understand mineralisation extents.

• Potential remains to identify extensions and new ore positions at depth, along strike and strike parallel. In 2001 shallow surface mining was carried out at the Panther Gold Deposit and adjacent, off-project Black Cat North Gold Deposit. Mining has significantly increased geological and metallurgical knowledge in these areas. Historical drill intercepts record mineralisation below the inactive Panther Open Pit and potential exists for further extensions to mineralisation.

EXPLORATION

• The Board of Directors has retained APEX Geoscience Pty Ltd. to conduct a full desktop study for the Jaurdi Hills Project (complete).

• In total, 783 soil samples have been collected during 2011 at Jaurdi. As well, detailed prospecting and rock grab sampling is being conducted throughout high priority target areas. Further work is scheduled during the next quarter to advance targets to a drill ready stage.

• During 2010, 6285 soil samples and 16 rock grab samples were collected. Well developed gold in soil anomalies exist at the Wealth of Nations; New Gatlees; Derry’s own; New Gatlees, Panther and Jaurdi Mining Center, which remain untested.

• POW’s (“Plans of work”) for drilling have been filed and now received. Approximately 15 Drill Holes (totaling 2500m) have been planned to test known gold in soil anomalies and follow-up high-grade gold intercepts from historic drilling at the Wealth of Nations.

• A number of well developed gold in soil anomalies exist. Prospecting and in-fill soil sampling is continuing at the Jaurdi Hills Property. Tenement P16/2436 was relinquished.

Soil Anomaly 1

This gold in soil anomaly is located west of the Panther pit on tenement M16/365. This anomaly has a dimension of 140 x 320 m . The Panther anomaly is currently covered by a soil sample grid of 20 x 40m. Gold values in soils are up to 158 ppb Au (parts per billion gold).

Soil Anomaly 2

This gold in soil anomaly is located on tenements M16/193 and M16/194, and the anomaly is found in the New Gatlees area. This anomaly has a dimension of 1300 x 700 m . The anomalous area is currently defined by a soil sample grid of 20 x 80 m. The highest gold value found in the anomalous area is 1270 ppb.

Soil Anomaly 3

This gold in soil anomaly is located on tenement M16/114 and is found in the New Gatlees area. This anomaly has a dimension of 520 x 350 m . The anomalous area is currently defined by a soil sample grid of 20 x 40 m. The highest gold in soil value found in the anomalous area is 3940 ppb Au.

Soil Anomaly 4

This newly discovered gold in soil anomaly has dimensions of 1 x 1km . The anomaly is found on tenements P16/2440, P16/2678, P16/2441, and P16/2443. The anomaly is currently covered by with a soil grid with dimensions of 40 x 160 m. The grids sample spacing is decreased to 20x160m in some areas. The highest gold in soil value found in the anomalous area is 210 ppb Au.

Soil anomaly 5

This newly discovered anomaly can be found in the Jaurdi Mining Centre Area on tenements P16/2413 and P16/2411. This soil anomaly has a potential dimension of 1000 x 600 m . The current soil sample grid covering the anomaly is 40 x 320 m. The highest gold in soil value found in the anomalous area is 150 ppb Au.

See figures in our quarterly activities report dated October 31, 2011

SOUTHEAST ASIA

• Sentosa has signed two non-disclosure agreements with unnamed parties with respect to properties in Indonesia and the Philippines.

• In accordance with the stated objectives in our prospectus Sentosa continues to evaluate acquisition targets in SE Asia and negotiate on high priority properties in both Indonesia and the Philippines.

Competent Persons Statement

The geological information contained in this ASX release relating to Exploration Results, Mineral Resources, or Ore Reserves has been compiled by Mr. Dean Besserer. Mr. Besserer is a Member of AusIMM and Mr. Besserer has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.