RAMELIUS RESOURCES LIMITED — Capital/Financing Update 2012

Feb 7, 2012

ASX RELEASE – 8 February 2012

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Sale of West Kambalda Tenements

• Ten West Kambalda tenements sold to Ramelius Resources for $0.30M and 1.5% NSR on all minerals other than nickel

• Breakaway retains all Nickel Rights

• Breakaway continues to sharpen focus on its priority Queensland copper - gold assets

Breakaway Resources Limited (ASX: BRW – Breakaway ) advises that it has signed a Sale and Purchase Agreement with Ramelius Resources Limited (ASX: RMS – Ramelius ), whereby Ramelius will purchase a number of Breakaway ’ s tenements located in the West Kambalda region of Western Australia for $0.30M (cash) and a Royalty being the total of 1.5% of the Net Smelter Return on all minerals other than nickel upon completion of the sale process.

Breakaway retains the Nickel Rights on the tenements subject to the Sale and Purchase Agreement.

The tenements subject to the Sale and Purchase Agreement are located immediately north of Ramelius ’ Wattle Dam Gold Mine and comprise exploration, prospecting, and mining licences (ten in total).

They exclude Breakaway's 100% - owned Spargos Reward tenements which contain the historic Spargos Reward gold mine where approximately 126,000 tonnes @ 8g/t Au (~29,000oz) was extracted via open pit and underground mining to 120 metres depth ( Figure 1 ).

The tenement sale is consistent with Breakaway ’ s previously announced strategy of rationalising its extensive Australian minerals portfolio, thereby allowing the Company to focus its ongoing exploration activities on the highly prospective Eloise copper-gold exploration project located in the Cloncurry District, Queensland.

Breakaway will advise the market upon completion of the sale process, which is expected to occur within 3 months from the date of this announcement.

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Figure 1: West Kambalda Tenement Location

ENDS

Unit 14, 531 Hay Street Subiaco WA 6008 W/ www.breakawayresources.com.au

ASX Code: BRW Page 1of 2 Issued Shares: 365,483,672 Market Capital: $15.35M

P/ (08) 9278 6444 F/ (08) 9278 6449 E/ admin@breakawayresources.com.au

For Further Information Contact:

Mr David Hutton, Managing Director

Mobile: 0417 974 843 Business: (08) 9278 6444

Mr John Atkins, Chairman Mobile: 0419 767 573

Breakaway Resources Limited ABN 16 061 595 051 Unit 14, 531 Hay Street Subiaco WA 6008

P/ (08) 9278 6444 F/ (08) 9278 6449 E/ admin@breakawayresources.com.au W/ www.breakawayresources.com.au

Competent Persons Statement:

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr David Hutton (Managing Director), a full time employee of the Company. Mr Hutton is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). He has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2004 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Mr Hutton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

About Breakaway Resources Limited:

Breakaway Resources aims to generate shareholder wealth through the discovery and development of a high-quality standalone mineral deposit. The Company’s exploration activities are focussed on our priority Eloise Exploration Project (copper – gold) located within the Cloncurry District of North West Queensland and the Wildara and Miranda Projects (nickel) located within the Leinster District of Western Australia’s North Eastern Goldfields; two areas that we believe offers the most attractive opportunities for future success.

Page 2 of 2 P/ (08) 9278 6444 F/ (08) 9278 6449 E/ admin@breakawayresources.com.au

Unit 14, 531 Hay Street Subiaco WA 6008 W/ www.breakawayresources.com.au

ASX Code: BRW Page 2 of 2 Issued Shares: 365,483,672 Market Capital: $15.35M