SUPERIOR RESOURCES LIMITED — Capital/Financing Update 2012

Apr 18, 2012

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ASX Release ASX Code 19 April 2012 CSE

Superior Resources to Acquire NQ Project from CSE

Copper Strike Limited (CSE) and Superior Resources Limited (SPQ) have reached agreement for SPQ to acquire the exploration rights to the area surrounding its One Mile Mining Lease (ML6750) in the Greenvale area of northeast Queensland (Figure 1).

CSE holds Exploration Permit for Minerals Application (EPMA) 18985 and SPQ holds EPMA18987 over the area surrounding ML6750. EPMA18985 in part overlaps with EPMA18987 and the EPMAs are competing applications as defined under the tenement processes of the Queensland Government Department of Employment, Economic Development and Innovation (DEEDI). EPMA18985 has been given priority over the area by DEEDI.

The agreement provides for CSE to abandon EPMA18985, thereby allowing EPMA18987, held by SPQ to proceed to grant, in exchange for SPQ issuing 1 million fully paid ordinary shares in SPQ to CSE.

The agreement will allow SPQ to explore the area surrounding ML6750 on the grant of EPM18987. The principal areas of interest to SPQ are the immediate surrounds of ML6750 where extensions to the One Mile volcanogenic massive sulphide (VMS) mineralisation may exist and the Cockie Creek porphyry copper prospect, lying 5km northeast of One Mile. The granting of EPMA18987 will make the One Mile project a more substantial copper project for SPQ.

Through its shareholding in SPQ, CSE will gain an interest in the One Mile project as well as other projects held by SPQ in northwest Queensland.

Tom Eadie Managing Director Copper Strike Limited

Registered Office Copper Strike Limited ABN 16 108 398 983 Level 9 - 356 Collins Street Melbourne Victoria 3000 Australia Ph 03 96400955 Fax 03 96420698 email tom.eadie@copperstrike.com.au www.copperstrike.com.au

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Figure 1: Location of CSE’s EPMA18985 and SPQ’s EPMA18987 in northeast Queensland

Corporate Details

Issued Capital 106,844,810 shares Share Price $0.105 (18 April 2012)

Directors & Management

Mr Tom Eadie – Executive Chairman Mr Barrie Laws – Non Executive Director Mr John Dunlop – Non Executive Director Ms Melanie Leydin – Company Secretary

Registered Office Copper Strike Limited ABN 16 108 398 983 Level 9 - 356 Collins Street Melbourne Victoria 3000 Australia Ph 03 96400955 Fax 03 96420698 email tom.eadie@copperstrike.com.au

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www.copperstrike.com.au