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UNION STAR METALS LTD Capital/Financing Update 2012

Nov 8, 2012

65987_rns_2012-11-08_4478dae0-9ef5-4b64-af0a-f4763a310568.pdf

Capital/Financing Update

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South America’s Emerging

Gold Explorer

ASX Announcement

09 NOVEMBER 2012

ABN 36 124 541 466

ASX Code: PRA

Address:

Level 28, 140 St Georges

Option Expiry Notice

Terrace,

Perth WA 6000

Postal Address:

PO Box 994,

Subiaco, WA 6904

Tel: +61 8 9278 2766 Fax:+61 8 9278 2525 Web: www.promesa.com.au

Investor Enquires Contact:

Ananda Kathiravelu Executive Director Email:

[email protected]

Promesa Limited (ASX: PRA) advises that the attached Option Expiry Notice has been

mailed to shareholders.

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Philip Re Company Secretary Promesa Ltd

About Promesa Ltd (ASX:PRA)

Promesa Ltd (“Promesa”, “the Company”) is a Perth based ASX listed Company, with a portfolio of exploration properties in Peru focused on precious and base metal commodities.

The Company’s projects are situated in the gold and copper rich Western Cordillera region in Peru. The concessions are considered prospective for Au, Ag, Cu and associated minerals. The concessions total 6 prospect locations with a total area of 38,436.5 ha.

Promesa provides investors access to an exciting and growing portfolio of exploration projects at discovery stage, including six projects in Peru, each offering a unique path way to discovery.

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Promesa Ltd – South America’s Emerging Gold Explorer

Page 1

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8 November 2012

Dear Option Holder,

NOTICE OF OPTION EXPIRY

As an Option Holder in Promesa Limited (“Promesa” ASX: PRA) we are writing to inform you that your options are due to expire at 5.00 pm on 8 December 2012 . This is an opportunity for you to become a full shareholder in Promesa Limited by exercising your options. If you choose to exercise your options, which will require a payment of 20 cents for each option held, you will receive one new fully paid share in Promesa for each option exercised. All shares issued will rank equally with existing Promesa shares.

Quotation of the options will cease at the close of trading on 30 November 2012 and any options not exercised by 5.00pm on 8 December 2012 will expire and will not be able to be exercised after that time.

The number of options you hold in Promesa as at 7 November 2012 is indicated on the enclosed Exercise of Option form. To exercise your options you must complete the enclosed Exercise of Option form, attach a cheque, payable to “Promesa Limited”, for the number of options you wish to exercise multiplied by 20 cents, and return both the form and your cheque to:

Advanced Share Registry Ltd. or deliver to: Advanced Share Registry Ltd.
P.O. Box 1156 150 Stirling Highway
NEDLANDS WA 6909 NEDLANDS WA 6009

Whilst a receipt for your payment will not be sent, once all forms and cheques have been received and the option term has expired, Advanced Share Registry Ltd will send you a holding statement by mail, which will confirm the number of shares you hold after exercise of your options.

The highest and lowest market price of the ordinary shares of Promesa during the 3 months immediately before the date of this notice, are as follows:

Price Date
Highest $0.12 11 October 2012
Lowest $0.041 6 September 2012
Last Traded $0.088 7 November 2012

If you wish to clarify the taxation consequences relating to the exercise of options, please consult your solicitor, accountant or professional advisor.

, Address: PO Box 994 Subiaco, WA 6904 Web : www.promesa.com.au Tel: +61 8 9278 2766 Fax: +61 8 9278 2525

ABOUT PROMESA

The Company’s 2012 Annual Report for the year ended 30 June 2012, together with all investor presentations and ASX announcements, can be viewed on our website at www.promesa.com.au. We encourage you to review Promesa’s activities and announcements.

The Company’s projects are situated in the gold and copper rich Western Cordillera region in Peru. The concessions are considered prospective for gold, silver, copper and associated minerals.

Promesa provides investors an opportunity to be part of an exciting and growing portfolio of exploration stage prospects, each offering the potential to become a pathway to a significant discovery.

We look forward to welcoming you as a shareholder in Promesa.

Yours sincerely

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Solomon Majteles Chairman