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LEFROY EXPLORATION LIMITED Net Asset Value 2011

Dec 12, 2011

65225_rns_2011-12-12_95743fe3-33c7-4772-a95b-ea0433410c54.pdf

Net Asset Value

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TO : Company Announcement Officer COMPANY : ASX SUBJECT : US Masters Holdings Limited – Net Tangible Asset Backing DATE : 13 December 2011

Dear Sirs,

Please find detailed below the following information as at 30 November 2011:

Net Tangible Asset Backing

Net Assets (after deduction of liabilities) A$ 90,195 Number of securities on issue 8,489,478 Net Tangible Asset Backing A$ 0.0106

Please note:

  • As at 30 November 2011 the Net Assets shown above included A$ 52,665 in unrealised investment losses;

  • 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 ARBN 052 123 930

Phone +612 8314 5580 Fax +612 8314 5555 Email [email protected]

www ushmasters com

Australian Registered Office: Suite 2 Level 40 88 Phillip Street Sydney NSW 2000 Australia Head Office: Palm Grove House Roadtown Tortola British Virgin Islands