FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Regulatory Filings 2012

Jun 4, 2012

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Tellus Resources Ltd
ABN: 35 144 733 595
Suite 301, Level 3
66 Hunter Street,
SYDNEY NSW 2001
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5 JUNE 2012

ASX ANNOUNCEMENT

DRILLING COMMENCES AT CHILLAGOE GOLD PROJECT (TLU 100%)

HIGHLIGHTS

• Drilling has commenced at the Empire Mining Lease (ML20380)

• Identification of strong quartz arsenopyrite veining associated with intrusives

• Samples from the first 3 holes submitted for assay

Introduction

Drilling has commenced at Tellus Resources Ltd's 100% owned Chillagoe Gold Project. Initial focus is within the Empire Mining Lease following up previously identified 'shallow' gold mineralisation such as 21m at 2.28g/t gold.

Drilling has already confirmed that the mineralisation and quartz veining is related to porphyritic intrusions, similar to that seen at the Red Dome project 24kms to the north‐west.

The first batch of samples, representing 577m from the first three holes has been submitted to Australian Laboratory Services for analysis with an estimated turnaround time of between 3 and 5 weeks.

Empire Mining Lease (ML20380)

The first three holes drilled at Empire have confirmed strong quartz arsenopyrite veining and minor chalcopyrite mineralisation closely associated with a multi‐phase intrusive system. The geology is consistent with other Intrusive Related Gold (IRG) systems in north Queensland.

Managing Director Stephen Woodham said, "We are encouraged by the findings of the first drill holes at Empire, they have confirmed our theory that the mineralisation and quartz veining at Empire is intrusive related. IRG systems rarely occur in isolation and continue at considerable depth.”

There are at least four porphyritic intrusions identified in the Tellus drilling so far. One of the mineralised intrusions outcrops and has weathered to form copper oxides on fracture surfaces.

Mapping of the surface copper anomalism extends north and south of the recent drill holes and has a strike of at least 200m.

The majority of previous drilling was only assayed for gold.

Drilling is continuing.

ASX ANNOUNCEMENT

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Figure 1 – Drillholes TLU001‐ TLU003

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100ppb Au
in soil
Copper oxides at
surface
breccia
50ppb Au in
soil
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ASX ANNOUNCEMENT

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Background

The Chillagoe Gold Project is situated 165 kilometres west of Cairns in far North Queensland, Australia. The Chillagoe region is renowned for its vibrant mining industry beginning in the early 1900's.

The Chillagoe Gold Project consists of one (1) granted Exploration Permit Minerals, six (6) applications for Exploration Permit Minerals and four (4) granted Mining Leases. The Exploration Permits cover a combined area of 28,880 hectares and the Mining Leases cover a combined area of 480.92 hectares. Within the Mining Lease are the Empire and Wandoo prospect areas. Both these prospects are associated with classic breccia pipe and IRG complexes and display features typical of the nearby multi‐million ounce deposits at Kidston, Red Dome and Mungana.

Advanced exploration has already been completed with more than 14,000 metres drilled to date with strong mineralisation evident from surface, and open at depth.

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

Stephen Woodham Managing Director T: 0417 293 449

E: stephen.woodham@tellusresources.com.au

Or

Anne Adaley Company Secretary & Chief Financial Officer

T: 02 9231 6231

E: anne.adaley@tellusresources.com.au

About Tellus

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

Tellus has acquired a large tenement package in northern Queensland and regional New South Wales prospective for Intrusive Related Gold Deposits (IRG). The strategic objectives of the Company are to enhance Shareholder wealth through implementing exploration programmes on its existing projects whilst continuing to evaluate additional exploration and value‐accretive opportunities within Australia and internationally.

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ASX ANNOUNCEMENT

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Competent Person’s Statement

The information in this report that relates to Exploration Results based on information provided by Mr D Ward, Member of Australasian Institute of Mining and Metallurgy and Senior Exploration Consultant to Tellus Resources Ltd. Mr Ward 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. Mr Ward, consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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 Resources Ltd 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 Ltd 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.

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