LOTUS RESOURCES LIMITED — Board/Management Information 2012

Feb 5, 2012

ASX ANNOUNCEMENT

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APPOINTMENT OF CHIEF OPERATING OFFICER

6 FEBRUARY 2012

Dragon Energy Ltd (“Dragon”, ASX: DLE ) is pleased to announce the appointment of Mr Tim Williams as Chief Operating Officer and an executive director of the Company.

Mr Williams was most recently an associate of a corporate law firm in Adelaide, South Australia. He has spent the last five years working predominantly in the areas of resources and energy law and has advised ASX listed companies on capital raisings, international investment, exploration and mining licensing, Corporations Act and ASX Listing Rules compliance, native title negotiations and commercial contracts.

Mr Williams holds Bachelor of Laws and Bachelor of Commerce degrees as well as a Diploma of Languages from the University of Adelaide. He has lived and studied in China and in recent years formed and led the resources and energy division of the Australia China Business Council in South Australia.

“I appreciate Tim’s commitment to join Dragon Energy’s board and management team at its exciting time, I believe his operational skills and commercial/legal expertise will contribute greatly to the company’s growth,” commented by Dragon’s managing director, Mr. Gang Xu.

Mr Williams stated, “I am joining Dragon Energy at an exciting time for the development of the company. I look forward to working with the current Board and management team in continuing the Company’s plans to fast-track the development Rocklea project, and growing its resources base through its other exploration prospects.”

The Appendix 3X - Initial Director’s Interest Notice for Mr Williams follows this announcement.

Authorised by:

Gang Xu Managing Director

For further information or corporate opportunities please refer to our website www.dragonenergyltd.com or contact:

Gang Xu Managing Director Telephone: +61 8 9322 6009 Mobile: +61 411 039 645

About Dragon

Dragon Energy Limited ( Dragon ) listed on the Australian Securities Exchange (ASX) in February 2009 ( ASX: DLE ). Dragon’s flagship projects are Rocklea and Nameless Iron projects in the Pilbara region with a sizeable JORC resource defined at Rocklea and significant CID exploration targets at the Nameless Project. Dragon Energy’s portfolio of tenements has numerous multi-commodity targets, including Fe, Mn, Au and U in Western Australia.

A C N 1 1 9 9 9 2 1 7 5 Suite 8 1297 Hay Street, West Perth, Western Australia, 6005 T: (61-8) 9322 6009 F: (61-8) 9322 6128

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	Dragon Energy Ltd
ABN	38 119 992 175

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Timothy John Williams
Date of appointment	3 February 2012

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Number & class of securities

Nil

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interestNote: Provide details of the circumstances giving rise to therelevant interest.Nil	Number & class of Securities

• See chapter 19 for defined terms.

Appendix 3X Page 1

30/9/2001

Appendix 3X Initial Director’s Interest Notice

Part 3 – Director’s interests in contracts

Detail of contract	Not Applicable
Nature of interest
Name of registered holder(if issued securities)
No. and class of securities towhich interest relates

• See chapter 19 for defined terms.

Appendix 3X Page 2

30/9/2001