TESORO GOLD LTD — Capital/Financing Update 2014

Sep 24, 2014

C onti n uatio n Inv e stme n ts Li m ited

25 Se p tember 20 1 4

Mark e t Announcements Off i ce Aust r alian Securities Exchan g e, Sydney

By E- L odgement

C A PITAL STR U CTURE

S h ares: 19.86m O p tions: 2.25 m C a sh: $1.1m (S e pt 2014) D e bt: Nil

Acq u isition of T he BioFus i onary Cor p oration – U pdate

Cont i nuation In v estments Ltd ( COT or C ompany ) a d vises that t h e process i n respect of the prop o sed acquisi t ion of The B iofusionar y Corporati o n Ltd ( TBC ) ( Transacti o n ) as set ou t in the C o mpany’s a n nounceme n t of 29 Jul y , 2014 ( An n ouncement ) has broke n down.

Rece n t behaviou r of TBC is s u ch that th e Company h as been lef t with no c h oice but to concl u de that TBC is unwilli n g to pursu e consumm a tion of the T ransaction contemplat e d in the b i nding head s of agreem e nt entered i nto on 29 J u ly, 2014 ( A greement ).

The C ompany w o uld like its shareholde r s to unders t and that it h as done ev e rything wi t hin its powe r to progres s the Transaction and h a s not been m ade aware of any reas o n why the Tran s action cannot be comp l eted as con t emplated b y the Agree m ent.

B O ARD & M A NAGEME N T

M r Jeremy Kin g C h airman

M r Andrew W o rland N o n-Executive Director

M r David Chu r ch N o n-Executive Director

M s Sarah Smit h C o mpany Secr e tary

The C ompany is e xtremely d i sappointed at this as a n outcome f o r its shareh o lders and rema i ns perplexe d by the be h aviour and conduct of T BC.

COT h as reserve d its rights f u lly in resp e ct of the m a tter and intends to inv e stigate all l e gal reme d ies open to it and shall utilise its s h areholding in TBC to t h e greatest e xtent possi b le to maxi m ise any ret u rn on suc h investmen t .

This a nnouncem e nt lifts the s uspension o n the tradi n g of the C o mpany’s sh a res on AS X

R E GISTERED O FFICE 9 4 5 Wellingto n Street W est Perth W A 6005

C O NTACT DE T AILS T e l: +61 8 932 2 7600 F a x: +61 8 932 2 7602

For a n d on behal f of the Boa r d

S H ARE REGIS T RY A u tomic Regis t ry Services 7 V entnor Ave n ue W est Perth W A 6005

Jere m y King Chai r man

A S X CODE C O T