ECLIPSE METALS LIMITED. — Capital/Financing Update 2012

Sep 16, 2012

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ASX ANNOUNCEMENT

DATE 17 September 2012

ASX Market Announcements Company Announcements Office SYDNEY NSW 2000

Notification Under Section 708A(5)(E)

On 13 September 2012 Eclipse Metals Limited (“EPM” or “the Company”) issued 7,200,000 fully paid Ordinary Shares and 3,750,000 Options with an exercise price of $0.06 expiring 30 November 2016.

The Company gives notice pursuant to Section 708A(5)(e) of the Corporations Act that:

1. The Shares and Options were issued without disclosure to investors under Part 6D.2 of the Corporations Act.

2. The Company, as at the date of this Notice, has complied with:

   • (a) the provisions of Chapter 2M of the Act as they apply to the Company; and

   • (b) Section 674 of the Act.

3. As at the date of this notice, there is no information:

   • (a) that has been excluded from a continuous disclosure notice in accordance with the ASX listing rules; and

   • (b) that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

     • i. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

     • ii. the rights and liabilities attaching to the Shares or Options.

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Peter Del Fante Executive Director

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110379 (133681)