FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Board/Management Information 2012

Jan 29, 2012

==> picture [487 x 69] intentionally omitted <==

----- Start of picture text ----- Tellus Resources LtdABN: 35 144 733 595Suite 301, Level 366 Hunter Street,SYDNEY NSW 2001----- End of picture text -----

30 JANUARY 2012

ASX ANNOUNCEMENT

APPOINTMENT OF MANAGING DIRECTOR

The Board of Tellus Resources Ltd (ASX code: TLU) is pleased to announce the appointment of Stephen Woodham as Managing Director of the Company with immediate effect. Executive Technical Director David Ward will step down from the board and assume the role of Senior Exploration Consultant.

Commenting on the appointment, Tellus Chairman Tony Wehby said “We are extremely pleased to have someone with Stephen’s experience and proven success joining our Company at this exciting time and we look forward to together building and realising value for our shareholders.”

“I also wanted to take this opportunity to thank David for his contribution in managing the Company since we listed on the ASX last May”, he added.

The details of Mr Woodham’s remuneration package are outlined below.

Stephen Woodham – Biography

Stephen Woodham has over 15 years experience in the mining and exploration industry in Western Australia and New South Wales specialising in field logistics and support and land access in rural and remote environments. He also has a successful track record of tenement acquisition, mining investment and commercial and cross‐cultural negotiation.

As founding director of LFB Resources Limited, Mr Woodham in 1996 negotiated the purchase of an extensive portfolio of tenements from Rio Tinto and later negotiated joint ventures with Sumitomo of Japan and AngloGold prior to the takeover of that company by Alkane Exploration in 1999.

Since 1999, Mr Woodham was a founding partner in the field logistics business Southern Cross Technical & Field Services, consulting to a number of companies.

He was a founding partner in Techdrill Services, a successful drilling company operating in New South Wales.

As a founding Director of YTC Resources Limited he was successful in attracting the Chinese state owned Yunnan Tin Company as a seed investor into that company. Mr Woodham remains as the longest serving director of YTC Resources.

Mr Woodham was a founding director of Centaurus Resources, a company now operating in the Iron ore sector of Brazil. Both YTC Resources and Centaurus Metals are ASX–listed.

ASX ANNOUNCEMENT

==> picture [160 x 64] intentionally omitted <==

Stephen Woodham – Terms of Contract for new Managing Director

The key terms and conditions of Mr Woodham’s employment contract with the Company, which take effect from 1 February 2012, are as follows:

Fixed Remuneration

Fixed Remuneration
Base Salary	A$220,000 per annum (plus 9% compulsory superannuation contribution).
Performance Rights	Mr Woodham will be issued 300,000 Performance Rights which will convert into
	ordinary shares following the successful completion of a capital raising being finalised
	on or before 30 April 2012, whereby the Company raises not less than $2 million as
	required by the Chillagoe acquisition agreement and a further 700,000 Performance
	Rights, the terms of which are yet to be determined (a total of 1 million Performance
	Rights). The issue of the Performance Rights is subject to ASX and shareholder
	approval and full details will be provided at that time.

Termination

The Board may terminate the consultancy agreement at any time by giving not less than three (3) months notice in writing; or immediately in instances of misconduct. Mr Woodham may terminate the agreement by giving not less than three (3) months notice in writing.

The appointment also contains provisions for confidentiality, leave entitlements and termination rights that are customary for an appointment of this nature.

For further information on this announcement or Tellus Resources please contact:

Anne Adaley Company Secretary & Chief Financial Officer T: 02 9231 6231 E: anne.adaley@tellusresources.com.au

or visit our website at www.tellusresources.com.au

Investor and Media Enquiries: Ophir Partners ‐ Stuart Glazebrook ‐ 0402216835.

About Tellus

Tellus Resources Ltd is an ASX‐listed minerals exploration company that generates value for its shareholders by identifying and acquiring properties and projects that have significant discovery and development potential.

Tellus has acquired a large tenement package in regional New South Wales prospective for Intrusive Related Gold Deposits (IRG) and is actively pursuing other value‐adding opportunities within the resources sector.

Disclaimer

This document has been prepared by Tellus Resources Ltd (“Tellus”) and may contain some references to forecasts, estimates, assumptions and other forward looking statements. These forward‐looking statements reflect the current internal projections, expectations or beliefs of Tellus based on information currently available to Tellus. Although the company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the business, which could cause actual results to differ materially from those expressed herein. Statements concerning reserves and/or resources may also be deemed to be forward looking statements in that they involve elements based on specific assumptions.

Tellus has taken all reasonable care in producing the text and images contained in this report but do not warrant that the information contained herein is accurate or up to date. The information in this report is based on publicly available information, internal data and information from other sources. It is not intended to give investment or other advice to any party or individual(s) and the information is not a substitute for detailed investigation or analysis. Tellus will not be responsible for any loss or damage (direct or indirect, consequential or otherwise) resulting from the use of information provided in this report.