KINGSROSE MINING LIMITED — Capital/Financing Update 2009

Jan 20, 2009

Kingsrose Mining Limited

Market Update

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David Hatch Managing Director 21 January 2009

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Placement

� 9,700,000 shares issued to non-related parties at an issue price of 10 cents per share raising $970,000 for short term working capital needs.

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Way Linggo

• General Meeting of shareholders approves all resolutions in regard to Kingsrose’s acquisition of 85% interest in Way Linggo project in Indonesia.

• Advice that New Mining Law enacted in December 2008 not expected to change the Contract of Work conditions for P.T. Natarang Mining in any material sense.

• � Kingsrose proceeding with project financing activities.

Alimak Raise Progress

Cross section looking North.

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Alimak raise from 1020mRL adit is confirming 3-D grade distribution and geotechnical ground conditions.

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Comet Vale

• Ore parcel of 4,262 tonnes at 14.7g/t toll treated in December 2008.

• Proceeds of $1.1 million due at end of January 2009.

• Less than 5 metres depth of water remaining to commence re-establishing access to 4 level in Sand Queen shaft.

• Next ore parcel scheduled for toll treatment in latter half of February.