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PEPPERMINT INNOVATION LIMITED M&A Activity 2011

Jun 2, 2011

65563_rns_2011-06-02_d84d19a5-1b80-4b5f-911d-4c514eea4ff8.pdf

M&A Activity

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DUE DILIGENCE UPDATE: ACQUISTION OF ZAMBIAN COPPER

3[rd] June 2011

Chrysalis Resources Limited wishes to announce that it has successfully completed its due diligence on the Zambian Copper Project which was announced to the market on 27[th] January 2011.

We are now awaiting ministerial consent from the Zambian Government to approve the transaction.

For information regarding the Zambian Copper Project and the signed Heads of Agreement please refer to the announcement made by the Company on 27[th] January 2011.

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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 ManagementLevel 1 Listed on ASX 27 May 2008 No of Shares on Issue 44,895,801 Dr Neale Fong331 Hay Street Executive ChairmanSUBIACO WA 6008 ASX Share Code CYS No of Options on Issue 35,036,327Mr Adrian PaulPO Box 226, Wembley WA 6913 Sector Mining Cash (as at 30 [th] Apr 11) $0.5M Non-Executive DirectorPhone: 618 9380 4430 Mr Grant KidnerFax: 618 9481 5044 Non-Executive DirectorE: [email protected]www.chrysalisresources.com.au Mel CotterellCompany Secretary----- End of picture text -----