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LEFROY EXPLORATION LIMITED Net Asset Value 2010

Dec 12, 2010

65225_rns_2010-12-12_a626f7f1-9bb0-4599-bdbe-1525764fea80.pdf

Net Asset Value

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TO : Company Announcement Officer COMPANY : ASX SUBJECT : US Masters Holdings Limited – Net Tangible Asset Backing DATE : 9th December 2010

Dear Sirs,

Please find detailed below the following information as at 30 November 2010:

Net Tangible Asset Backing

Net Assets (after deduction of liabilities) US$728,130 Number of securities on issue 2,429,826 Net Tangible Asset Backing US$0.2997 Please note:

  • As at 30 November 2010 the Net Assets shown above included US$111,221 in unrealised investment gains;

  • the above figures are based on information available at this time and are subject to audit.

Kind regards,

US Masters Holdings Limited

Director

U.S. Masters Holdings Limited Australian Registered Office: Suite 2 Level 40 ARBN 052 123 930 88 Phillip Street Phone +612 8314 5580 Sydney NSW 2000 Australia Fax +612 8314 5555 Head Office: Email [email protected] Palm Grove House Roadtown Tortola British Virgin Islands

www.ushmasters.com