PEPPERMINT INNOVATION LIMITED — Board/Management Information 2012

May 15, 2012

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JOINT VENTURE FARM-IN AGREEMENT WITH TALISMAN MINING LTD DOOLGUNNA WEST PROJECT

16[th] May 2012

Farm-In Agreement

Chrysalis Resources Limited is pleased to announce the signing of a Joint Venture Farm-In Agreement with Talisman Mining Limited (ASX:TLM) in respect to Chrysalis’s Doolgunna West Copper-Gold Project.

Under the terms of the Joint Venture Farm-In Agreement, Talisman has the right to earn a 60% undivided interest in the Doolgunna West project subject to spending $500,000 on exploration within three years. Talisman must expend a minimum of $150,000 in the first 12 months after which it has the option to either:

• i. expend a further $350,000 within the next 2 years from signing of the farm-in agreement to earn a 60% interest or;

• ii. withdraw from the agreement with no further expenditure commitment required and no interest in the tenement earned.

The Doolgunna West project area is approximately 150 km north north-east of Meekatharra and consists of one Exploration Licence covering an area of 18.5 km2. The tenement is approximately 20 km west of the DeGrussa copper-gold massive sulphide deposit which is currently being evaluated by Sandfire Resources Ltd (ASX:SFR).

The agreement will enable Chrysalis to focus on its recently acquired Zambian Copper Project whilst maintaining a significant interest in its Doolgunna West Copper-Gold Project.

For further details regarding the proposed exploration activities on the project, please refer to today’s announcement made by Talisman Mining Limited.

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Chrysalis Resources Limited Company Snapshot Company Structure Board Management
A.B.N 56 125 931 964 Listed on ASX 27 May 2008 No of Shares on Issue 67,343,702 Dr Neale Fong
Level 1 Executive Chairman
331 Hay Street ASX Share Code CYS No of Options on Issue 35,036,327
SUBIACO WA 6008 Mr Grant Kidner
Sector Mining Cash (as at 31 [st] Mar 12) $0.67M Executive Director
PO Box 226, Wembley WA 6913
Mr Adrian Paul
Phone: 618 9380 4430 Non-Executive Director
Fax: 618 9481 5044
E: info@chrysalisresources.com.au Mel Cotterell
www.chrysalisresources.com.au Company Secretary
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JOINT VENTURE FARM-IN AGREEMENT WITH TALISMAN MINING LTD DOOLGUNNA WEST PROJECT

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Board Changes

The Board of Chrysalis also wish to announce the appointment of Mr Grant Kidner as an Executive Director, effective immediately. Mr Kidner joined Chrysalis as a Non-Executive director on 31[st] August 2008. He has over 26 years experience within the finance and accounting industry.

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Dr Neale Fong Executive Chairman

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Mel Cotterell Company Secretary

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Chrysalis Resources Limited Company Snapshot Company Structure Board Management
A.B.N 56 125 931 964 Listed on ASX 27 May 2008 No of Shares on Issue 67,343,702 Dr Neale Fong
Level 1 Executive Chairman
331 Hay Street ASX Share Code CYS No of Options on Issue 35,036,327
SUBIACO WA 6008 Mr Grant Kidner
Sector Mining Cash (as at 31 [st] Mar 12) $0.67M Executive Director
PO Box 226, Wembley WA 6913
Mr Adrian Paul
Phone: 618 9380 4430 Non-Executive Director
Fax: 618 9481 5044
E: info@chrysalisresources.com.au Mel Cotterell
www.chrysalisresources.com.au Company Secretary
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