Further end of hole intersections at BM7 up to 1.54% Cu

• 6m @ 0.41% copper and 438ppm cobalt from 26m to EOH incl. 2m @ 0.49% copper and 555ppm cobalt from 30m to EOH • BM7 copper-cobalt system is now 2.3km long and remains open to the south and east • Assay results from aircore lines 5, 6 and 7 expected in the next two weeks • 2,400m RC drill program completed at BM7 with assay results expected in December 2012 The directors of Encounter Resources Lt