Lachlan Star Limited — Capital/Financing Update 2011

Oct 17, 2011

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ABN: 88 000 759 535

18 October 2011

LACHLAN STAR TO LIST ON THE TORONTO STOCK EXCHANGE

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Gold miner, Lachlan Star Limited (“Lachlan” or the “Company”) (ASX: LSA) is pleased to announce that it been approved to list on the Toronto Stock Exchange (TSX), with the stock code “LSA”. Trading of Lachlan’s shares on the TSX is expected to commence on Wednesday 19 October 2011.

Pursuant to the previously announced private placement of Special Warrants (the “Special Warrants Placement”) that closed in August, 2011, the Company is required to use its best efforts to file a preliminary prospectus in each province of Canada in which Special Warrants were distributed, being Ontario and British Columbia, pursuant to the Special Warrants Placement and obtain a receipt for a final prospectus on or before December 27, 2011 which, if obtained, will result in the underlying shares, including shares issuable upon exercise of the underlying warrants, to be free trading.

Mick McMullen, Executive Chairman, commented on the TSX listing “ the TSX listing is a milestone event for the Company. The TSX is the preferred listing destination for most of our peer group of Latin American precious metal miners, and the TSX listing will enable North American institutional investors to invest in Lachlan in their own time zone. We believe that this represents another important step in building the Company into a recognised unhedged gold producer with a strong balance sheet and growth profile”.

For and on behalf of the Board

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Mick McMullen Chairman

PO Box 1523 West Perth, WA 6872 Tel +61 8 9481 0051 Fax +61 8 9481 0052 www.lachlanstar.com.au

For further information please visit www.lachlanstar.com.au or contact

Mick McMullen Scott Young Chairman Investor Relations Consultant Lachlan Star Tel: +1 705 888‐2756 Tel: +61(0)8 9481 0051 Email: scott.young@lachlanstar.com.au Email: mick.mcmullen@lachlanstar.com.au

About Lachlan Star Limited

Lachlan Star Limited is an emerging minerals exploration and development company headquartered in Perth, Western Australia. The Company is focused on acquiring and developing assets within the gold and copper sectors within Australia and Chile. The company has a board of directors and management team with an impressive track record of advancing resource projects through to production.

Lachlan Star’s current projects include a 100% interest in the CMD Gold Mine in Chile, the Bushranger copper and gold project in New South Wales (Newmont earning up to 51%) and the Princhester magnesite deposit in Queensland.

Caution regarding forward‐looking information: This news release contains forward‐looking information regarding the Company’s plans to file and obtain receipts for a preliminary prospectus and a final prospectus in certain jurisdictions in Canada. Assumptions upon which such forward‐looking information is based include that the Company will be able to satisfy all regulatory requirements with respect to the filing of a preliminary prospectus and a final prospectus and obtain the necessary regulatory approvals, including a receipt in each case. Some of these assumptions are based on factors and events that are not within the Company’s control and there is no assurance they will prove to be correct. The forward‐looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward‐looking information. The risks include, but are not limited to: risks related to the regulatory review process, risks related to mining operations, including political risks and risks related to international operations, actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form for the year ended June 30, 2011. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in this forward‐looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that the Company will file and obtain receipts for a preliminary prospectus and a final prospectus in the anticipated timeframe or at all. Accordingly, readers should not place undue reliance on the forward‐looking information. The Company does not undertake to update any forward‐looking information, except in accordance with applicable securities laws.