STREAMPLAY STUDIO LIMITED — Regulatory Filings 2012

Jul 15, 2012

16 July 2012

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ERITREAN EXPLORATION UPDATE

DRILLING PROGRAMME HAS COMMENCED

Gippsland Limited ('Gippsland' or 'the Company') [ASX: GIP, FRA: GIX] is pleased to announce that the drilling rig has arrived on site and has commenced operations at Adobha. The drilling is progressing well and should be completed within four weeks.

The 5,000 metre reconnaissance reverse circulation (“RC”) drilling programme will test a number of VTEM, gravity and geochemical anomalies as described in an ASX announcement dated 14 May 2012.

Signed

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Rowan Caren Company Secretary

For further detail, contact info@gippslandltd.com

Suite 4, 207 Stirling Highway Claremont WA 6010 Australia Phone +61 8 9340 6000

Note:

In accordance with Listing Rule 5.6 of the Australian Stock Exchange Limited, the geological information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on data compiled by Dr John Chisholm, a Fellow of The Australasian Institute of Mining and Metallurgy. Dr Chisholm has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Chisholm consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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