ESTRELLA RESOURCES LIMITED — Capital/Financing Update 2012

Sep 23, 2012

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ASX ANNOUNCEMENT

Chile’s star in copper-gold

ESTRELLA RESOURCES LIMITED ACN 151 155 207

AUSTRALIAN REGISTERED OFFICE: Level 17, 15 Castlereagh Street Sydney NSW 2000 Australia

POSTAL ADDRESS: PO Box R514 Royal Exchange NSW 1225 Australia

CONTACT DETAILS: Telephone: +61 2 9993 4475 Facsimile: +61 2 9993 4433 Email: admin@estrellaresources.com.au

CHILE OFFICE:

24 September 2012

Impressive Gold Results from Venus Sampling

HIGHLIGHTS

• Identified gold structural trend which continues from the Centauri prospect within Agustina into the Venus tenement

• Two high grade gold vein sets found at Centauri and Venus

• Target zones identified and ready to follow up

Av. Vitacura 5250, Oficina 802, Vitacura Santiago, Chile

1. Exploration Update

ASX CODE: ESR

Estrella Resources Limited ( ASX. ESR ) ( Estrella or the Company ) is pleased to provide an update on the gold assay results of the recent mapping and sampling campaign on the Venus Project.

The Venus Project covers approximately 85km[2] and abuts the Company’s Agustina tenement to the south and south east.

During July and August 2012, Estrella undertook a reconnaissance field mapping and sampling campaign at the Venus Project. This was to assess the potential for similar structurally bound high grade gold mineralisation as those found at the Centauri prospect, which is located to the western side of the Agustina tenement. This campaign also encompassed the Agua Grande area, which is a historical gold mining district that lies between Centauri and Venus (see Figure 1 - Location Map).

The fire assay results for the grab samples from Venus have been recently received. Table 1 below lists the significant results from the program. Highlights include:

• 6.98 g/t Au;

• 4.63 g/t Au;

• 4.52 g/t Au;

• 3.48 g/t Au;

• 3.40 g/t Au;

• 3.32 g/t Au;

• 3.00 g/t Au; and

• 2.41 g/t Au.

AUSTRALIA | CHILE

www.estrellaresources.com.au

ASX ANNOUNCEMENT[2]

Chile’s star in copper-gold

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Table 1 - Fire assay gold results for Venus and Venus west project only (note 42 samples were tested, below tabulates the significant results for values >0.5 g/t)

Samples	**Aug/t **	utm easting	utm northing
1	6.98	302145	6734712
2	4.63	302198	6734654
3	1.62	299096	6737127
4	0.62	299070	6737315
5	2.04	298927	6737138
6	3.32	300352	6737304
7	3.00	299248	6736788
8	3.48	303890	6733796
9	3.4	303212	6731939
10	2.41	304896	6732211
11	2.27	304470	6734258
12	0.67	304470	6734323
13	0.55	305947	6741165
14	1.91	302716	6729469
15	0.63	304558	6743500
16	4.52	304590	6743488
17	0.69	302715	6738908

Figure 1 - Location Map

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----- Start of picture text ----- CentauriVenus WestAgua Grande----- End of picture text -----

AUSTRALIA | CHILE

www.estrellaresources.com.au

ASX ANNOUNCEMENT[3]

Chile’s star in copper-gold

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The results clearly illustrate high grade gold is associated with structures on similar trend to those found in Centauri. These trends cover a collective strike length of 9km. Figure 2 below highlights Estrella’s current exploration target areas.

Estrella is very encouraged by these results as they demonstrate the prospect for significant repetitions of the Centauri mineralisation at Venus. Plans are currently underway to refine the gold target area at Venus. To this end, a series of mapping and sampling traverses, soil samples and trenches across the vein trends are being planned. Results from this program will be reported as and when they are received.

Figure 2 - Recent gold sample results from Venus and earlier results from Centauri along with mapped structural trends which stretch over 9 kilometres. Two gold hosting vein sets in similar orientations are common to each prospect. The broad target areas are shown by the green ellipses.

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Figure 1

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www.estrellaresources.com.au

ASX ANNOUNCEMENT[4]

Chile’s star in copper-gold

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Figure 3 - Estrella geologist mapping at Venus (July 2012)

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2. Commentary

Estrella's Managing Director, Dr. Jason Berton, who is currently in Chile said:

"These results from our recent sampling program confirm our view that Agustina/Venus has the potential to host significant high grade gold mineralisation. The evidence to date suggests the presence of numerous repetitions of the Centauri trends over a total 9km strike length. This provides exciting upside for the project in addition to the existing IOCG target.

“We plan to methodically follow up these latest results with a further program focused on better defining the size and scope of the potential mineralisation.”

AUSTRALIA | CHILE

www.estrellaresources.com.au

ASX ANNOUNCEMENT[5]

Chile’s star in copper-gold

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Competent Person’s Statement

Exploration information in this announcement is based upon work undertaken by Dr. Jason Berton, the Managing Director of Estrella Resources Limited whom is a Member of the Australasian Institute of Metallurgy and Mining (AusIMM). Dr Berton has sufficient experience that 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 (JORC Code). Dr Berton consents to the inclusion in this presentation of the statements based on his information and context in which they appear .

About Estrella Resources

Estrella Resources Limited is an ASX listed, Chilean focused copper-gold exploration company. Estrella has four brownfields exploration projects in Chile: Agustina, Venus, Luna and Inca. With a highly experienced board, a strong operational and management team and a sole focus on Chilean copper and gold projects, the Company is well positioned to develop its projects and add value for shareholders. Pre - IPO exploration activities have identified a number of exploration targets. The Company has commenced an aggressive exploration program at Agustina where it is completing its maiden drill program. Estrella’s near term goal is to identify a JORC compliant resource by 1Q 2013.

Directors and Management

Dr. Jason Berton Managing Director Gavin Solomon Non-Executive Chairman

Julian Bavin Non-Executive Director

Simon Kidston Non-Executive Director

Juan Pablo Vargas de la Vega General Manager - Chile

ESTRELLA RESOURCES LIMITED ACN 151 155 207

ASX CODE: ESR

ORDINARY FULLY PAID SHARES: 87,101,000

UNLISTED OPTIONS: 7,205,000

Justin Clyne Company Secretary

AUSTRALIA | CHILE

www.estrellaresources.com.au