ESTRELLA RESOURCES LIMITED — Capital/Financing Update 2012

May 7, 2012

Level 17, 15 Castlereagh Street Sydney NSW 2000 PO Box R514 Royal Exchange NSW 1225

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t. +61 2 9993 4444 f. +61 2 9993 4433 e. admin@estrellaresources.com.au estrellaresources.com.au

7 May, 2012

Mr Anthony Ingegneri Adviser, Listings (Sydney) ASX Compliance Pty Ltd 20 Bridge Street SYDNEY NSW 2000

Via email: anthony.ingegneri@asx.com.au

ISSUE OF 1,500,000 ‘LEAD MANAGER’ OPTIONS

I refer to the reference in the Company’s Replacement Prospectus dated 11 April 2012 to the 1,500,000 options to be issued to the Company’s lead manager, Helmsec Global Capital Limited (Helmsec). I confirm that those 1,500,000 options (exercisable at $0.20 each on or before the date which is 5 years from the date of quotation of the Company’s shares on the ASX) were issued by the Company on 30 April 2012 at the direction of Helmsec to the parties particularised below. Each of these 11 parties has executed an escrow agreement and all 11 escrow agreements have been lodged with the ASX.

Global Capital Finance No. 2 Pty Ltd <Wentworth No. 1Account>	245,000
Global Capital Finance No. 2 Pty Ltd <Wentworth No. 2Account>	240,000
Aust Sport Financial Services Pty Ltd <Gleeson FamilyAccount>	15,000
Justin BradleyClyne	40,000
Conrad Corporation PtyLimited	115,200
KFT Capital PtyLimited	115,200
RockyRises PtyLimited	115,200
GJN Holdings PtyLimited <Patterson Business A/C>	115,200
Richard George Michael Offer	115,200
Randleson Holdings Limited	115,200
Helmsec Global Capital Limited	268,800

I note the 1,500,000 options are escrowed for a period of 24 months from quotation and evidence of their issue is contained within the copy of the Company’s full share register sent to the ASX on 2 May 2012 by Boardroom Pty Limited.

Yours faithfully,

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Justin Clyne Company Secretary

SYDNEY I SANTIAGO