MURRAY COD AUSTRALIA LIMITED — Interim / Quarterly Report 2012

Jan 29, 2012

30 Jan u ary 2012

ASX C o de:TPR

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ASX A n nouncem e nt

QUARTERLY ACTIVITIES REPORT FOR THE THREE MONTHS ENDED 31 DECEMBER 2011

Highlights

• A w ide lamina t ed quartz filled zone has been id e ntified as the Locking t on Fault

• A G old Arsenopyrite mineralisation has been intersected o v er 6 metre s in LODT 0 04-W1  Ca s h balance o f $7.2 million (cash b a cking of 1 0 .5 cents p e r share)  Ph a se Three o f the explo r ation prog r amme co m menced o n 9 January 2012

Timpet r a Resour c es Limite d (ASX: T P R) (“Tim p etra” or t h e “Comp a ny”) provides the followi n g comme n tary for t h e three m onths ended 31 De c ember 2011, to be read in conjun c tion with Appendix 5B.

Exploration work

Phase Two of th e explorati o n work co n sisted of the drilling of two w e dge holes totalling 630 m e tres. The s e wedge holes (daug h ter holes) were drille d as branc h ing holes f rom the previously drilled h ole LODT004 (pare n t hole), wi t h the obje c tive to te s t the exte n t of the mineralisation loc a ted near t h e end of t h e parent h o le. The first wedge h o le (LODT 0 04-W1) tested t he area a b ove, and t h e second w edge hole (LODT00 4 -W2) expl o red the ar e a below the pre v iously rep o rted miner a lisation fr o m LODT0 0 4.

Results of exploration work

Wedge hole LOD T 004-W1 i n tersected a zone of l aminated q uartz-graphite and p u g clays which w as recognised as a s ignificant s tructural d o main bou n dary, and h as been i d entified as the L ockington Fault. Thi s fault has b een confir m ed as ha v ing a prim a ry relation s hip with the gol d mineralis a tion.

A grou p of faults (F3 Faults) have been interprete d to be conjugate fault s to the Lo c kington Fault - t hey devel o ped at the same time as the Lockington Fa u lt. As the Lockington Fault is compr e ssive, the F3 faults h ave been interpreted as dilational, i.e. the y cause te n sion or openin g s in the h ost rock a llowing fo r the mov e ment of fluids and d eposition of goldarseno p yrite mine r alisation.

Mineralisation en c ountered i n LODT0 0 4 and LODT004-W1 and W2 is associa t ed with shallo w north-eas t dipping q uartz vein s . These veins are sub-parall e l to the F 3 Faults confirming that th e F3 Faults , mineralis e d veins an d the Lockington Faul t are all pr o ducts of the sa m e event.

The Lo c kington F a ult has be e n confirme d as the si g nificant str u ctural con t roller and a lthough it itself is not mineralised, it w as one of the main c o nduits of mineralising fluids whic h settled in the F 3 Faults a n d associat e d veins.

Wedge hole LODT004-W1 intersected a 6 metre zone from 258 metres (678 metres downhole) of arsenopyrite mineralisation, with 3.5 metres averaging 2.6 g/t gold.

Wedge hole LODT004-W2 intersected narrow zones of weak arsenopyrite and gold mineralisation at 206 metres (755 m downhole) and 232 metres (781 m downhole).

Mineralisation Model

Timpetra has completed a full review of the current exploration based on results of the Phase I and Phase II drill programs. The Lockington Fault is a major fault throughout the Lockington South Prospect area which has allowed for the free movement of mineralising fluids over large horizontal and vertical distances. These fluids were able to enter the host rocks through the development of the shallow dipping conjugate faults (F3 Faults) resulting in the formation of mineralised quartz veins and gold-arsenopyrite mineralisation in the surrounding sandstones.

These quartz veins have preferentially developed in the footwall to the Lockington Fault, close to the centre of the Friesian Anticline, and there is evidence of a similar mineralisation setting existing with other anticlines such as the Poddy and Guernsey (as previously reported).

Stage Three Exploration program

Phase Three of the exploration program commenced on the 9 January 2012 with the objective of testing this model by drilling through the Lockington Fault near the Friesian Anticline. It is anticipated that a series of shallow dipping, mineralised veins will be intersected in the footwall to this fault.

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Cross section looking south through 5980950N – Lockington South Prospect The gr a phic abov e shows d e tail of drill i ng throug h the Friesian Anticlin e . The Lo c kington Fault is shown by the steeply west (righ t of image) dipping red line. F3 F aults are s h own as a grou p of irregul a r short lin e s dipping at a shall o w angle t o the east ( left). The s e faults preferentially dev e lop in the footwall t o the Lock i ngton Fault, close t o the centr e of the Friesia n Anticline.

-- Ends —

For more information:

Timpetra Resources Limited

Dion Cohen (Managing Director)

+61 2 8298-2008 www.timpetra.com

About Timpetra Resources Limited

Timpetra Resources Limited is a public listed Australian company that is focused on the identification, assessment and development of gold projects. The Company’s maiden project is the Lockington Project, an advanced gold exploration project situated within Central Victoria’s established gold district near the town of Lockington. Since July 2003, over 100,000 meters of drilling has been completed at the Lockington property, as well as extensive geochemistry and ground geophysics work. The Lockington Project is supported by Timpetra’s major shareholder, Gold Fields Australasia Pty Ltd, who also has a technical services agreement in place with Timpetra.

Statement as to Competency

The Exploration Results in this report have been compiled by Mr Geoff Turner, who is a Member of the Australian Institute of Geoscientists. Mr Turner has more than ten years experience in the estimation, assessment, and evaluation of mineral resources and ore reserves, and has more than 20 years experience in exploration for the relevant style of mineralisation that is being reported. As such, Geoff Turner qualifies as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.

Geoff Turner is contracted to Timpetra Resources Ltd through his company Exploration Management Services Pty Ltd, and consents to the inclusion in this report of these matters based on the information in the form and context in which it appears.

Forward Looking Statements

This announcement contains certain forward looking statements which, by nature, contain risk and uncertainty because they relate to future events and depend on circumstances that are due to occur in the future.

There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements.