FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Capital/Financing Update 2011

Nov 16, 2011

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

ASX ANNOUNCEMENT

17 NOVEMBER 2011

TELLUS RESOURCES UPDATE ON NORTHERN DISCOVERY ACQUISITION

Extension of Due Diligence Period

On October 28 2011, Tellus Resources Limited (ASX: TLU) announced that it had signed a Memorandum of Understanding (“MOU”) to acquire 100% of the issued capital of Northern Discovery Limited (NDL), an unlisted Australian public company with a portfolio of coal assets in Indonesia, subject to a number of conditions.

By mutual consent both parties have moved to extend the MOU deadline to allow satisfactory completion of Due Diligence as required under the agreement. The agreement still remains subject to shareholder and regulatory approvals (including ASX) with Tellus shareholders expected to vote on the proposed transaction in early 2012.

Tellus Chairman Tony Wehby said “we are confident of completing our Due Diligence in a timely manner and have been working closely with Northern Discovery toward securing the best value outcome for our shareholders”.

The company will update shareholders once the Due Diligence process has been completed.

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.

Disclaimer

This document has been prepared by Tellus Resources Limited (“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 Resources Limited 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 Resources Limited 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.