SANDFIRE RESOURCES LIMITED — Capital/Financing Update 2011

Jul 7, 2011

ACN 123 511 017

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NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

8 July 2011

ASX Limited (Perth office) Exchange Plaza 2 The Esplanade PERTH WA 6000

By E-Lodgement

COMPLETION OF ACQUISITION OF CHILEAN COPPER/ GOLD PROJECTS, CORNERSTONE INVESTMENT BY SANDFIRE RESOURCES NL AND PLACEMENT

The Directors of Whinnen Resources Limited ( Whinnen ) are pleased to announce that the acquisition of 100% of Mystic Sands Pty Ltd ( Mystic Sands ) (the Acquisition ) has been completed.

As consideration payable for the Acquisition, Whinnen issued to the shareholders of Mystic Sands a total of:

• 35 million new fully paid ordinary shares in Whinnen ( Shares ); and

• 8 million options with an exercise price of A$0.20 each and an expiry date of 30 April 2014.

Whinnen also issued the following Shares and options as consideration for services to other parties in connection with the Acquisition:

• Sandfire Resources NL ( Sandfire ) - 17 million Shares and 14.5 million options with an exercise price of A$0.20 each and an expiry date of 30 April 2014 as consideration under the Technical Services Agreement;

• Ravenhill Investments Pty Ltd – 14 million Shares for fees associated with introducing the Acquisition to Whinnen in accordance with the Origination Agreement; and

• Euroz Securities Limited - 10 million Shares for advisory and capital raising fees associated with the Acquisition.

Further, Whinnen successfully issued 104 million Shares at $0.07 per share to raise gross proceeds of $7.28 million via a placement to sophisticated investors ( Placement ). Of this Placement, Sandfire has subscribed for 26.5 million shares at $0.07 per share for proceeds of $1.855 million.

Level 2, 38 Richardson Street, West Perth WA 6005 Ph: 9322 6579 Fax: 9322 6398 www.whinnenresources.com.au

As announced on 6 July 2011, Whinnen is pleased to advise that ASX has granted it a waiver of ASX Listing Rule 6.18 to the extent necessary to permit Sandfire to participate in future equity issues by Whinnen to maintain the percentage holding which it holds at the time that the equity issue is proposed.

Whinnen Managing Director, Tony Greenaway said, “Whinnen is delighted to complete the acquisition of Mystic Sands and welcome Sandfire to the share register. We now have an exciting portfolio of exploration properties in Chile and can focus our attention on the upcoming exploration program.”

Yours sincerely

Tony Greenaway Managing Director

Level 2, 38 Richardson Street, West Perth WA 6005 Ph: 9322 6579 Fax: 9322 6398 www.whinnenresources.com.au