VENARI MINERALS NL — Capital/Financing Update 2012

Dec 5, 2012

Mineral Resource Increase (Governor Broome Minerals Sands Project)

Astro Resources NL (“Astro” or the “Company”) is pleased to announce an increase in the global Governor Broome resource of a JORC Inferred 31Mt @ 4.5% HM, following drilling of the southern extension of Governor Broome East, and subsequent laboratory analysis.

• The global Governor Broome Inferred Resource has been increased to 185.7Mt @ 4.35% HM

• The additional Inferred Resource of 31Mt @ 4.5%HM represents an additional 29% of the existing Governor Broome East resource

• Results further validate the Company’s confidence in the Governor Broome deposit’s viability as an economically sustainable operation

• Mineralisation area remains open to the northwest and southeast, providing the potential to further increase the resource tonnage

Executive Director, Robert Hyndes, said of the results:

“Achieving such a substantial increase to the Governor Broome resource in our first round of drilling and within such a short time frame is pleasing and places the project at an exciting stage of development. I believe it vindicates our earlier confidence in the project and now, in its ability to further increase in size and value.

“This new region is open in at least two directions which should provide considerable scope to expand the dimensions of the project resource. These results give rise to a strong positive outlook for the project’s future development and economic viability.

“The Company will continue its detailed analysis of the exploration results, and anticipates further positive outcomes from this preliminary review.”

ph : +61 8 6389 5777 fx : +61 8 9486 1258 asx : aro

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Figure 1: The southern extension of Governor Broome East remains open to the northwest and southeast, providing potential for additional resource increase

NEW GOVERNOR BROOME JORC INFERRED RESOURCE

NEW GOVERNOR BROOME JORC INFERRED RESOURCE	NEW GOVERNOR BROOME JORC INFERRED RESOURCE
(2% HM and 30% Slimes cut-offgrades applied)
Deposit Group	Tonnage (Mt) HM (%) Oversize (%) Slimes (%)
North Warren Warnbro Subtotal South Warren Warnbro Subtotal East Warren Warnbro Subtotal TOTAL	14.5 4.85 8.4 7.0 9.6 6.18 10.0 17.4
	24.2 5.38 9.0 11.2
	13.3 4.56 7.6 8.5 11.8 4.90 11.2 24.2
	25.1 4.72 9.3 15.9
	65.4 3.73 4.1 8.1 70.1 4.47 9.6 22.3
	136.4 4.12 7.0 15.3
	185.7 4.35 7.5 14.4
North estimated by Geostat Services, South estimated by GRD Minproc, East estimated asperfigure 3 below
Figure 2: The Governor Broome East has increased by 29%, from 105Mt @ 3.99%HM

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ENDS

For enquiries, please contact:

Robert Hyndes Executive Director P: +61 8 6389 5777

John Nayton

Media Contact P: +61 4 2241 4983

The information in this report as it relates to Mineral Resources for Governor Broome East and its Southern Extension is based on information compiled by Fleur Muller (director of Geostat Services, who is a member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists) and John Doepel (director of Continental Resource Management Pty Ltd (CRM), who is a member of the Australasian Institute of Mining and Metallurgy). Both Ms Muller and Mr Doepel have sufficient experience in mineral resource estimation, which is relevant to the style of mineralisation and type of deposit under consideration and are qualified as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Both Ms. Muller and Mr Doepel consent to the inclusion in the report of the information in the form and context in which it appears.

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GOVERNOR BROOME EAST JORC INFERRED RESOURCE

(2% HM and 30% Slimes cut-off grades applied)

GOVERNOR BROOME EAST JORC INFERRED RESOURCE (2% HM and 30% Slimes cut-offgrades applied)	GOVERNOR BROOME EAST JORC INFERRED RESOURCE (2% HM and 30% Slimes cut-offgrades applied)
Deposit Group	Tonnage (Mt) HM (%) Oversize (%) Slimes (%)
Existing Warren Warnbro Subtotal New Warren Warnbro Subtotal Total Warren Warnbro Subtotal	52.0 3.66 2.8 8.1 53.0 4.31 8.1 22.3
	105.0 3.99 5.5 15.3
	13 4.0 9 9 18 5.0 14 20
	31 4.5 12 15
	65.4 3.73 4.1 8.1 70.1 4.47 9.6 22.3
	136.4 4.12 7.0 15.3
Existing resource estimated by Geostat Services, new resource estimation, and calculation of total resource, by CRM

Figure 3: Detail on the calculation of the new Governor Broome East resource

APPENDIX

Resources for the Southern Extension of the Governor Broome East Heavy Mineral Deposit have been estimated by CRM using ID2 methodology and are reported in accordance with the 2004 JORC Code.

Southern Extension Resources

The Southern Extension Inferred Resources total 31Mt @ 4.5% HM, 12% Oversize, and 15% Slimes at 2% HM lower block cut and maximum 30% slimes.

Resources were estimated separately for the mineralisation within the overlying Warren Sands and the underlying Warnbro Group. The resources are set out in Table 1.

Table 1 Governor Broome East - Southern Extension Resource Summary

2% HM reporting lower cut-off, 30% slimes upper cut-off

Group	Category	Resource (Mt)	HM (%)	Oversize (%)	Slimes (%)
Warren	Inferred	13	4.0	9	9
Warnbro	Inferred	18	5.0	14	20
Totals	Inferred	31	4.5	12	15

Note: Totals may appear incorrect due to rounding

The resource was estimated from heavy mineral analyses of 1m samples from 69 aircore holes drilled by Astro Resources during 2012. The analyses were carried out by Diamantina Laboratories. The drill-holes were drilled on approximate 80m spacing along lines 480m apart.

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