LINDIAN RESOURCES LIMITED — Capital/Financing Update 2012

Apr 26, 2012

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ASX Release

27 April 2012

LINDIAN RESOURCES LIMITED Level 1 / 33 Richardson Street West Perth , Australia WA 6872 Tel: +61 8 9200 4438 Fax: +61 8 9200 4469

SABANG DISCOVERY EXPLORATION UPDATE

Lindian Resources Limited (“Lindian”) is extremely pleased to announce that the Company has received assay results for drill hole BMS-010 on the Sabang Discovery on the southern portion of the Masapelid Project in the Philippines (Figures 1, 2 and 3).

HIGHLIGHTS

• Significant results from extension of drill hole BMS-010 (Figure 4) include:

• 190.00 metres from 129.00 metres at 0.43 g/t gold, 2.27g/t silver and 0.16% copper including 56.00 metres from 263.00 metres at 1.01g/t gold, 2.06g/t silver and 0.16% copper.

• Higher grade intercepts within this broad zone include:

Contact: Steve Leithead Managing Director

E-mail: info@lindianresources.com

• 1.00 metre from 263.00 metres at 16.65g/t gold, 4.30g/t silver and 0.25% copper

• 4.00 metres from 315.00 metres at 7.83g/t gold, 5.53g/t silver and 0.33% copper, which includes:

• 1.00 metre from 315.00 metres at 19.23g/t gold, 11.20g/t silver and 0.86% copper, and:

• 1.00 metre from 318.00 metres at 9.78g/t gold, 4.20g/t silver and 0.20% copper.

For the latest news: www.lindianresources.com.au

Directors / Officers: Matthew Wood Steve Leithead Scott Funston Angus Caithness Brian McMaster

ASX Symbol: LIN, LINOC

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Copper outcrop on western side of Sabang peninsula

• The final 13.80 metres of hole BMS-010 (the interval from 315.00 to 328.80 metres) averaged 2.35g/t gold, 2.31g/t silver and 0.21% copper suggesting that gold and silver mineralisation may extend beyond the limit of drilling in hole BMS-010.

• Arrival of a third diamond core drilling rig on site within a week.

Hole BMS-010, drilled on a section 100 metres to the northwest and parallel to the discovery section line BMS-007a, BMS-007b, BMS-008, BMS-009, BMS011, has intersected gold and silver mineralisation in the bottom half of that hole as targeted and predicted.

The hole collar for BMS-010 was offset from the Sabang drill grid (some 120 metres to the west southwest of the collar position for hole BMS-007b). BMS010 was drilled for the primary purpose of defining the extension direction of the high grade gold-silver veins identified in holes BMS-007b and BMS-008. That has now been achieved.

Hole BMS-010 was offset to the west and northwest from the main Sabang drill grid and targeted to intersect the gold and silver stockwork and vein zone projected to occur toward the bottom half of the hole. The Company can confirm that the results from BMS-010 have intersected the interpreted extension of the gold and silver mineralised system to the north and northwest of the New Discovery Zone at Sabang. Significantly, the results demonstrate that the newly discovered high grade gold-silver zone at Sabang has strike potential within the

LINDIAN RESOURCES LIMITED

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north and northwest strike corridor that is now being defined for that zone of mineralisation.

The latest results obtained from hole BMS-010 has confirmed that the gold and mineralised systems continue in that direction. Importantly, the results for BMS010 show that the high grade gold-silver component to that mineralised system is also present.

Interpreted geology encountered in BMS-010 indicates that the mineralised stockwork and sheeted vein system hosting gold and silver mineralisation dips gently to the southwest on that section line (Figure 4). This indicates the potential for up dip and potentially shallower mineralisation to the northeast on that section line and deeper mineralisation to southwest of BMS-010.

Ongoing drilling with holes in progress is testing the extension of the gold and silver mineralised system to the northeast and east of the New Discovery Zone. Core from holes BMS-011 (completed and assays awaited) and BMS-015 (in progress), appear to have the same style and similar intensity of stockwork and sheeting veining as holes BMS-007b, BMS-008 and BMS-010, which is very promising. This is suggestive that the gold and silver mineralised system extends to the north and northwest as confirmed by the results from hole BMS-010 and may also extend to the east and northeast as indicated by the logging of stockwork and sheeted veins in hole completed hole BMS-011 and hole BMS015 which is currently in progress (Figure 3).

With the arrival of a 3[rd] diamond drill rig on site toward the end of the week, drilling is to recommence on the target supergene copper-silver-gold zone on the ridge line extending north and north west from holes BMS-007a, BMS-007b, BMS-008 and BMS-009.

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The Company looks forward to providing further updates on drilling and results as they come to hand from the potentially World Class Masapelid Project.

Steve Leithead Managing Director

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Additional Copper outcrops on western side of Sabang peninsula

LINDIAN RESOURCES LIMITED

COMPETENT PERSONS STATEMENT

The information in the above announcement that relates to Exploration Results is based on information compiled by Mr Steven Leithead, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Leithead is a Director of Lindian Resources Limited. Mr Leithead has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Leithead consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

DISCLAIMER

The announcement may contain certain forward-looking statements. Words ‘anticipate’, ‘believe’, ‘expect’, ‘forecast’, ‘estimate’, ‘likely’, ‘intend’, ‘should’, ‘could’, ‘may’, ‘target’, ‘plan’, and other similar expressions are intended to identify forward-looking statements. Indication of, and guidance on, future earnings and financial position and performance are also forward-looking statements.

Such forward-looking statements are not guarantees of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Lindian, its officers, employees, agents and associates, which may cause actual results to differ materially from those expressed of implied in such forward-looking statements.

Actual results, performance, or outcomes may differ materially from any projections or forwardlooking statements or the assumptions on which those statements are based.

You should not place any undue reliance on forward-looking statements and neither Lindian nor its directors, officers, employees, servants or agents assume any responsibility to update such information.

LINDIAN RESOURCES LIMITED

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Figure 1: Lindian Resources Limited – Philippines Projects.

LINDIAN RESOURCES LIMITED

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Figure 2: Masapelid Project showing location of Sabang Prospect on the southern portion of Masapelid Island.

LINDIAN RESOURCES LIMITED

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Figure 3: Sabang Prospect – Showing location of Drill Hole BMS-010.

LINDIAN RESOURCES LIMITED

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Figure 4: Sabang Prospect – Cross Section BMS-010.

LINDIAN RESOURCES LIMITED

Table 1: Masapelid Project – Sabang Prospect. Significant intersections for drill hole BMS-010.

Prospect	Hole Number	Easting	Northing	Azimuth	Dip	Depth (metres)	From (metres)	To (metres)	Interval (metres)	Gold (g/t)	Silver (g/t)	Copper (%)
SABANG PROSPECT	BMS-010	791408.25	1069728.62	045	-60	328.80	129.00	319.00	190.00	0.43	2.57	0.16
	including						129.00	130.00	1.00	8.81	33.20	0.11
	including						201.00	203.60	2.60	1.95	3.28	0.07
	including						263.00	319.00	56.00	1.01	2.06	0.16
	which contains						263.00	264.00	1.00	16.65	4.30	0.25
	which contains						278.00	279.00	1.00	1.58	7.20	-
	which contains						315.00	319.00	4.00	7.83	5.33	0.33
	including an interval						315.00	316.00	1.00	19.23	11.20	0.86
	including an interval						318.00	319.00	1.00	9.78	4.20	0.20

LINDIAN RESOURCES LIMITED