LOTUS RESOURCES LIMITED — Capital/Financing Update 2012

Jul 9, 2012

ASX Code: MMX

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ASX ANNOUNCEMENT

10 July 2012

MURCHISON SELLS ROCKLEA PROJECT FOR $3.2 MILLION CASH

Murchison Metals Ltd (“the Company”) advises that it has sold its Rocklea iron ore project to Dragon Energy Limited for $3.2 million in cash.

The sale of the Rocklea project is conditional only on obtaining consent to the assignment of a standard heritage agreement. Completion is required to take place 5 business days after the condition is satisfied.

The project had a book value of approximately $12.0m (unaudited) as at 30 June 2012. The Company will record an impairment write-down for the project as at 30 June 2012 of approximately $8.8m (unaudited).

-ENDS-

For further information, please contact:

Greg Martin Shaun Duffy Managing Director Managing Director Murchison Metals Ltd FTI Consulting +61 8 9492 2600 +61 8 9485 8888 +61 404 094 384

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