FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Capital/Financing Update 2012

Mar 21, 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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22 MARCH 2012

ASX ANNOUNCEMENT

TELLUS COMPLETES SUCCESSFUL CAPITAL RAISING

Funds will be applied to progressing the Chillagoe Gold Project

Tellus Resources Ltd (ASX code: TLU) is pleased to announce that it has agreed to place 3,750,000 fully paid ordinary shares at $0.20 per share to raise $750,000 (before costs) to Paragon Group Holding Limited, a company based in Singapore.

Funds raised through the placement will go toward making payment for the acquisition of the Chillagoe Gold Project in Queensland and the planned exploration program, including 5000 metres of drilling. A portion of the funds will also be used to pursue the acquisition of other resources projects and fund general working capital requirements.

Commenting on the Placement, the Chairman, Tony Wehby said “The Company appreciates the participation and on‐going support of one of the Company’s largest corporate shareholders”.

Managing Director Stephen Woodham added “I am very pleased that we have secured funds that will allow us to progress the acquisition of, and the exploration program at the Chillagoe Gold project."

“This is a major milestone for the Company and provides an exciting opportunity for us to build real shareholder value“, he said.

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, four (4) applications for Exploration Permit Minerals and four (4) granted Mining Leases, all currently held by Premier Mining Pty Ltd (the Company has entered into an agreement to acquire Premier Mining Pty Ltd, refer to the Company’s ASX announcement dated 21 November 2011). The Exploration Permits cover a combined area of 9,520.7 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.

ASX ANNOUNCEMENT

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

Stephen Woodham Managing Director T: 0417293449 E: stephen.woodham@tellusresources.com.au

Or

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

About Tellus

Tellus Resources Ltd is an ASX‐listed minerals exploration company focused on generating 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, including through the purchase of the Chillagoe Gold project in Queensland.

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.

TELLUS RESOURCES LTD | ASX ANNOUNCEMENT |22 MARCH 2012

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