ESTRELLA RESOURCES LIMITED — Capital/Financing Update 2012

Jul 11, 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

12 July 2012

Agustina Exploration Update

HIGHLIGHTS

• Estrella completes Initial Drilling at Orion prospect

• Visible mineralisation within diamond cores

• Core samples being assayed at La Serena lab

• Exploration commenced on the Centauri prospect

CHILE OFFICE:

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 progress of the exploration program on its Agustina project.

1.1 Orion

To date, four holes have been drilled for 983m at the Orion prospect testing two distinct targets. Holes ORI001, ORI002 and ORI004 were drilled to test for mineralisation at the existing mine adits site. Hole ORI003 was drilled (350 m in length at 60[o] incline) to separately test the large geophysical anomaly located on the South East corner of Orion.

Mineralisation has been observed in the diamond core of the drill holes. A visual interpretation would suggest that the mineralisation at the mine adits is due to a later structural event unrelated to the geophysical anomaly.

The geophysical anomaly appears to be of an earlier system and part of the porphyry IOCG emplacement. Hole ORI003 intersected several 30 – 50 metre wide alteration zones with chalcopyrite, bornite and pyrite. A review of geological logs compared with geophysical data suggests that the hole has penetrated the outer envelope of the anomaly.

Core samples are currently being assayed, however, due to the significant back log at the labs, the results are now expected in mid to late August 2012.

Estrella is in the process of engaging a geochemical expert to undertake a detailed review of the lab results once available. This will better correlate future drill hole locations within the IOCG porphyry system and is essential in planning the next phase drilling at the anomaly target.

AUSTRALIA | CHILE

www.estrellaresources.com.au

ASX ANNOUNCEMENT[2]

Chile’s star in copper-gold

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1.2 Centauri

Rock chip sampling and trenching has commenced at Centauri to define surface mineralisation extents. Estrella believes Centauri is highly prospective for gold host within faults.

Reconnaissance mapping has identified two steeply dipping 10-15 metre wide shear zones, which feature magnetite veinlets. These veinlets increase in intensity until reaching a discrete metre wide fault at the centre of the shear zone, filled with high grade magnetite. The magnetite veinlets are the primary target for gold mineralisation in the sampling program. Further mapping and sampling is expected to identify additional repetitions in the Centauri vicinity.

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Drilling at Orion

Excavator at Orion

The results of trenching and rock chip traverses across the known gold hosting structures are expected in September 2012.

2. Commentary

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

"We are pleased with the progress of Estrella's maiden drilling program.

“The visible mineralisation in the core from the initial drill program at Agustina augurs well for the prospectivity of this prospect.

“The combination of a difficult financial market and our active presence on the ground has also led to a number of unexpected approaches from other groups operating in the region. Estrella is evaluating a number of opportunities for near term production."

AUSTRALIA | CHILE

www.estrellaresources.com.au

ASX ANNOUNCEMENT[3]

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