ESTRELLA RESOURCES LIMITED — Capital/Financing Update 2012

Sep 6, 2012

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ASX ANNOUNCEMENT

Chile’s star in copper-gold

ESTRELLA RESOURCES LIMITED ACN 151 155 207

7 September 2012

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

Agustina Drilling Results Update

HIGHLIGHTS

• Initial assay results received for Agustina Drilling

• Confirms copper mineralisation within the IP Anomaly and potential for IOCG deposit

• Plans for further drilling of the IP anomaly

1. Exploration Update

ASX CODE: ESR

Estrella Resources Limited ( ASX: ESR ) ( Estrella or the Company ) is pleased to provide an update on the assay results of the recent drilling program on its Agustina project.

1.1 Orion Drilling

As previously announced on 12 July, a total of four diamond core holes have been drilled in the Orion prospect within the Agustina project. These holes have been drilled to test for mineralisation at two separate targets. The first target being the large geophysical anomaly Induced Polarisation (IP) and the second beneath the existing underground terraced mine adits.

1.2 IP Anomaly Target

Hole ORI-03 was drilled (60[o ] dip towards 055[o] ) to test for mineralisation at the IP Anomaly Target located on the south east corner of Orion. Assay results have now been received for this hole following significant delays at the labs. Hole ORI-03 returned significant mineralisation grades (>0.1% Cu across an 18 metre downhole interval from 233m to 251 m). Refer to Table 1 for tabulation of significant mineralisation intercepts.

Significantly, the copper results are due primarily to finely disseminated chalcopyrite and bornite within two broad zones of potassic alteration and, secondly, due to small veinlets of chalcopyrite, pyrite and magnetite. All mineralised and associated alteration zones were visually observed in the drill core and confirm the presence of nearby IOCG target emplacement.

Interpretation of the results suggest that hole ORI-03 did not penetrate the core of the mineralised anomaly but rather intersected an "outer shell/envelope" and mineralisation grades may increase in the vicinity. The results are very encouraging as they provide strong evidence that the IP anomaly is related to copper mineralisation within an IOCG type target.

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ASX ANNOUNCEMENT[2]

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Chile’s star in copper-gold

While the IP survey initially indicated that the anomaly commenced at a depth of 100-150m, the current results suggest the actual mineralised source is likely to be deeper. However, the alteration footprint was observed within 50 metres downhole and does not rule out the potential for significant mineralisation nearer to the surface. This is not unexpected given the un-calibrated nature of the geophysical model and its inherent numerical limitations associated with boundary conditions in modelling.

The assay results of hole ORI-03 now provides sufficient information for geochemical experts to commence correlation work to more accurately determine drill hole positions to locate the mineralised source. A follow up drilling exploration program is expected upon the conclusion of this work.

Figure 1: Drill hole collars and IP anomaly plan view.

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ASX ANNOUNCEMENT[3]

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Chile’s star in copper-gold

Table 1: Significant assay results for hole ORI-03 (6740597N, 303266E, -60o dip, 055[o] azimuth)

Sample ID	metre	Cu%	**Auppm **	Fe%	Mn	Ca	K	Na	P	S
AO-351	51	0.263	0.210	4.49	377	1.42	1.09	0.29	0.097	0.279
AO-366	66	0.077	0.020	6.75	638	3.93	0.75	0.48	0.020	0.100
AO-384	83	0.063	0.010	7.38	521	4.49	0.40	0.55	0.019	0.091
AO-404	101	0.272	0.200	4.54	389	1.43	1.11	0.29	0.100	0.291
AO-427	124	0.118	0.020	7.10	512	3.96	0.47	0.42	0.006	0.159
AO-453	149	0.114	0.020	3.72	366	1.08	0.22	0.14	0.092	0.115
AO-457	151	0.265	0.020	4.58	391	1.45	1.10	0.30	0.101	0.283
AO-482	186	0.295	0.020	10.80	484	0.86	0.13	0.07	0.129	0.174
AO-496	189	0.076	0.030	7.14	254	0.88	0.16	0.10	0.139	0.339
AO-503	192	0.121	0.030	5.70	366	1.08	0.12	0.10	0.151	0.378
AO-504	197	0.298	0.020	23.50	321	0.58	0.04	0.07	0.076	1.995
AO-510	200	0.273	0.020	4.61	386	1.37	1.12	0.25	0.103	0.293
AO-532	222	0.076	0.010	5.05	282	1.00	0.15	0.10	0.142	0.177
AO-544	233	0.061	0.020	5.49	1223	1.24	0.07	0.08	0.126	1.226
AO-545	234	0.010	0.020	3.72	940	0.99	0.06	0.11	0.120	0.828
AO-546	235	0.021	0.040	5.18	487	1.62	0.08	0.09	0.075	1.661
AO-547	236	0.317	0.030	7.62	458	1.64	0.15	0.07	0.140	0.934
AO-548	237	0.213	0.020	5.99	593	1.22	0.14	0.07	0.149	0.424
AO-549	238	0.404	0.010	6.73	547	1.07	0.15	0.09	0.137	0.846
AO-550	239	0.023	0.010	7.89	2372	1.12	0.18	0.08	0.143	0.030
AO-551	240	0.027	0.010	7.32	1205	1.28	0.17	0.07	0.143	0.061
AO-552	241	0.009	0.020	6.23	391	1.10	0.13	0.10	0.144	0.295
AO-553	242	0.277	0.030	8.08	386	1.15	0.21	0.14	0.146	0.514
AO-554	243	0.162	0.010	8.45	451	0.92	0.16	0.09	0.137	0.199
AO-555	244	0.035	0.010	9.60	1759	1.43	0.18	0.06	0.139	0.083
AO-556	245	0.033	0.010	11.73	3233	2.72	0.42	0.02	0.133	0.046
AO-557	246	0.063	<0.01	11.26	2051	0.67	0.30	0.04	0.127	0.081
AO-558	247	0.035	<0.01	7.86	2196	1.50	0.21	0.08	0.137	0.041
AO-559	248	0.031	<0.01	5.79	619	1.35	0.17	0.11	0.154	0.040
AO-560	249	0.064	<0.01	7.16	839	1.41	0.13	0.10	0.147	0.125
AO-563	250	0.258	<0.01	4.50	377	1.34	1.06	0.24	0.100	0.283
AO-599	285	0.073	<0.01	8.12	338	1.90	0.20	0.09	0.320	0.197
AO-615	299	0.266	<0.01	4.57	376	1.33	1.07	0.24	0.100	0.279
AO-631	315	0.049	<0.01	6.92	249	1.83	0.31	0.23	0.422	0.064
AO-640	324	0.049	0.010	7.02	238	1.75	0.14	0.17	0.191	0.064
AO-650	333	0.064	<0.01	12.44	841	1.39	1.97	0.39	0.093	0.687
Zone groups are denoted by colour in the metre over a 32 metre interval.					column. The apricot zone highlights the

1.2 Terraced Mine Adit Target

Holes ORI-01, ORI-02 and ORI-04 were drilled to target mineralisation beneath the existing underground terraced mine adit at Orion.

Whilst mineralised zones were intersected in all three holes, the results suggest that the mineralised fault zones found in the adit do not increase in width at depth. At this stage, the intercepted copper values do not appear sufficiently high enough for economic extraction and, as a result, it is unlikely additional exploration work will be undertaken at this target. However, there are still numerous other mine adits at Orion, which are yet to be tested. An assessment of these additional targets will be undertaken in the coming months.

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ASX ANNOUNCEMENT[4]

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Chile’s star in copper-gold

Figure 2: Sample traverse across Orion terraced mine adits.

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1.3 Centauri

Trench cutting was attempted at Centauri, however rocky ground conditions prevented an effective trench from being dug. As an alternative, metre interval sampling was performed along the entire underground access drive. A total of 57 samples were collected as part of this program. Significant gold results were found in a 6m interval which included gold values up to 19.28 g/t. Further sampling programs are planned to test for repeats of high grade gold veins beyond the limits of the underground working.

An extensive soil sampling program was also undertaken to test strike length of the gold anomaly. The samples were taken at 25m spacing along the host structure. Results of the sampling program are pending.

2. Commentary

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

"The results of the recent drilling program have confirmed our belief that Agustina is prospective for a large IOCG type deposit.

“Whilst the intersected copper values are relatively low, they clearly point to the potential for a much larger system in the vicinity of the current drilling area. As our results have demonstrated, there is now also strong evidence that this copper bearing system is a cause of the large geophysical anomaly, and this is very likely to be answered by further drilling.”

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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

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www.estrellaresources.com.au