NT MINERALS LIMITED — Capital/Financing Update 2012

Nov 11, 2012

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ASX / MEDIA ANNOUNCEMENT

12 NOVEMBER 2012

RESTRUCTURE AND RECAPITALISATION UPDATE

Background

Swan Gold Mining Ltd (“Swan Gold” or “Company”) (ASX: SWA) announced on 3 May 2012 that it had signed a Terms Sheet with Investmet Ltd (“Investmet”) and DCM DECOmetal GmbH (“DCM”) to facilitate the restructure and recapitalisation of Swan Gold (“Transaction”). A formal Restructure Deed was executed shortly after this and the End Date for the satisfactory completion of the Conditions Precedent contemplated in the Transaction has since been extended to 31 October 2012. Amongst other Conditions Precedent for completion of the Transaction was that the Transaction was inter‐conditional with a similar restructure and recapitalisation transaction being completed with Stirling Resources Ltd (“Stirling”)(ASX: SRE) and Redbank Copper Ltd (“Redbank”)(ASX: RCP).

Status

Stirling has since received advice from the ASX that based on the terms of the Restructure Deed, Stirling would need to re‐comply with the full ASX admission criteria. Due to this advice, it has been agreed by all parties to the Transaction that Stirling will not be able to participate in the proposed Transaction.

DCM and Investmet, as contemplated in the Restructure Deed, are negotiating in good faith to secure the restructure and recapitalisation of Swan Gold and Redbank and hope to finalise these revised terms in the near future.

Board Positions

As it has been agreed that Stirling will not form part of the Transaction going forward, the Investmet nominees, Michael Fotios, Peter Farris and Damian Delaney, have resigned from the board of Stirling, but remain on the Boards of Swan and Redbank.

For more information:

Martin Depisch Chairman Tel: 08 6389 7500

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