LEFROY EXPLORATION LIMITED — Net Asset Value 2010

Aug 11, 2010

U.S. MASTERS HOLDINGS LIMITED ARBN 052123930 Registered Office at Suite 2 Level 40 88 Phillip Street Sydney NSW 2000 Australia

10	÷	Company Announcement Officer
COMPANY	$\sim$ 1.	ASX
SUBJECT	÷	US Masters Holdings Limited - Net Tangible Asset Backing
DATE	÷	12 th August 2010

Dear Sirs,

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Please find detailed below the following information as at 31^st July 2010:

Net Tangible Asset Backing

Net assets (after deduction of liabilities)	USS616,005
Number of securities on issue	2.429.826
Net Tangible Asset Backing	US\$0.2535

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

With kind regards,

US Masters Holdings Limited

D. 20. 00. Jan 2

Authorised Signature