PEPPERMINT INNOVATION LIMITED — Capital/Financing Update 2012

Jun 6, 2012

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CHRYSALIS FINALISES ACQUISTION OF ZAMBIAN COPPER PROJECT MWONGO LICENCE NOW ACTIVE

7 June 2012

The Directors of Chrysalis Resources Limited are pleased to announce that settlement of the Zambian Copper Project was completed today after all remaining conditions of the contract were satisfied (see ASX announcement 15th March 2012).

This completes the acquisition by Chrysalis of 100% of Zambian Copper Pty Ltd and 99.9% of Sedgwick Resources Limited (a Zambian company) which owns in excess of 3,000km[2] of exploration ground which consists of:

1. The Northern Projects of Shikila and Kabwima North and South, are located between Lumwana (Barrick Mines formerly Equinox) and Kansanshi (First Quantum’s) and Kansanshi and Chingola respectively, (total area 2,200km[2] ).

2. The Central Zambian Project Mwongo and Bulala Hills are within 15km and 50km respectively of Blackthorn Resources Mumbwa Project (ASX Code BTR) (Total Area 838km[2] ).

The Mwongo project which was previously a pending licence has now been granted.

Exploration

The Company will begin immediately with their planned exploration program which will include the following:

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• Airborne Geophysics on all licences

• Ground Geophysics on all licences

• RC Drilling and targeted Diamond Drilling on our Shikila and Kabwima South drill targets

• Satellite Image Analysis on all licences

Settlement

The Company will, within 5 business days, issue 5 million ordinary fully paid shares in Chrysalis together with the first instalment of $90,000 to the shareholders of Zambian Copper Pty Ltd in accordance with the terms of the Share Sale Agreement.

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----- Start of picture text ----- Chrysalis Resources Limited Company Snapshot Company Structure Board ManagementA.B.N 56 125 931 964 Listed on ASX 27 May 2008 No of Shares on Issue 67,343,702 Dr Neale FongLevel 1 Executive Chairman331 Hay Street ASX Share Code CYS No of Options on Issue 35,036,327SUBIACO WA 6008 Mr Grant KidnerSector Mining Cash (as at 31 [st] Mar 12) $0.67M Executive DirectorPO Box 226, Wembley WA 6913Mr Adrian PaulPhone: 618 9380 4430 Non-Executive DirectorFax: 618 9481 5044E: info@chrysalisresources.com.au Mel Cotterellwww.chrysalisresources.com.au Company Secretary----- End of picture text -----

CHRYSALIS FINALISES ACQUISTION OF ZAMBIAN COPPER PROJECT MWONGO LICENCE NOW ACTIVE

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As per the Share Sale Agreement a second instalment of $210,000 will be due and payable to the shareholders of Zambian Copper Pty Ltd upon a successful capital raising in due course.

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Dr Neale Fong Executive Chairman

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Mel Cotterell Company Secretary

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----- Start of picture text ----- Chrysalis Resources Limited Company Snapshot Company Structure Board ManagementA.B.N 56 125 931 964 Listed on ASX 27 May 2008 No of Shares on Issue 67,343,702 Dr Neale FongLevel 1 Executive Chairman331 Hay Street ASX Share Code CYS No of Options on Issue 35,036,327SUBIACO WA 6008 Mr Grant KidnerSector Mining Cash (as at 31 [st] Mar 12) $0.67M Executive DirectorPO Box 226, Wembley WA 6913Mr Adrian PaulPhone: 618 9380 4430 Non-Executive DirectorFax: 618 9481 5044E: info@chrysalisresources.com.au Mel Cotterellwww.chrysalisresources.com.au Company Secretary----- End of picture text -----