Exterra Resources Limited is an Australian mineral exploration company established to deliver shareholder value by identifying, acquiring and developing mineral projects that possess the potential for early cashflow and growth.

Exterra's projects have been selected on the basis of their exploration potential and the scope for development of small to medium size, high grade, high margin, gold deposits that have near term potential to be developed and fund future growth of the company. Exterra has three gold projects, located in the Eastern Goldfields and Gascoyne regions of Western Australia.

Overview

Exterra’s gold projects lie within the Archaean Yilgarn Craton, a world class gold province which has been a prolific producer of gold since the late 1880’s and includes the Kalgoorlie “Golden Mile” deposit which has produced over 50 million ounces of gold since discovery in 1893 and the Gascoyne province.

Exterra has recently completed a diamond drilling programme during 2011 at the Second Fortune deposit at Linden, which has resulted in the calculation of a maiden JORC Resource as per the Resource Summary table below. Further drilling will be completed to expand on this resource in the near future.

Exterra has also completed the acquisition of the Zelica project, located 20km to the NW of Linden, and which contains a JORC Resource as summarised below. Further drilling will be completed to expand this resource at depth and along strike.

Exterra's JORC Compliant Resources now total 1.5 million tonnes at 3.3 g/t Au for 161,745 ozs.

To Find Out More about Overview

Linden Project

The Linden Project comprises the majority of the historic Linden Goldfield, which produced over 34,500 ounces of gold from a number of small high grade mines. Exterra’s initial focus will be on the Second Fortune prospect where there is potential to develop a high grade underground operation.

Summary

 -  Second Fortune prospect contains a JORC Code Compliant Resource of 207,000 Tonnes @ 7.9 g/t Au for     

    52,270 ozs. over 400m of strike and to 250m in depth.
 -  Second Fortune vein strikes over 600 and is open down plunge below 250m.
 -  Diamond drilling by Exterra early 2011, with 5 holes completed (1,075m), intersected the Second Fortune     

    mineralisation and confirmed the grade and location of the vein system with results including
    0.3m @ 46.9g/t Au, 0.6m @ 24.8 g/t Au, 0.7m @ 44.6 g/t Au.
 -  Second Fortune gold mine with historic production. and infrastructure including shaft, camp, offices, water     

    and power supply.
 -  Granted Mining Leases.
 -  Near term mine development potential with toll treatment opportunities.
 -  Reconnaissance RC drilling by Exterra during 2010 at Linden, covering a broad area, targeting    

    tructural/geological sites or old workings reported results including 1m @ 37.1 g/t Au, 1m @ 97.4 g/t Au,    

    11m @ 6.7 g/t Au, 8m @ 9.5 g/t Au (from 89 drill holes, total 5,418m), which highlights the potential of the    

    area, particularly as very little work has been done on the project in the last 10 years.

To Find Out More about Linden Project

Egerton Project

The Egerton Project is a structurally complex but very high grade Proterozoic mesothermal gold system with the Hibernian prospect mined historically and containing a JORC Resource of 23,800 ounces of gold. The Hibernian prospect has the potential to be developed into a high grade underground mine.

Summary

-  Hibernian prospect contains a JORC compliant resource of 116,400 T @ 6.4 g/t Au for 23,811 ozs.
-  High grade intercepts within Hibernian resource include 2m @ 147.0 g/t Au, 5m @ 78.90 g/t Au and 5m @ 96.7 g/t Au

   in quartz veins.
-  Deposit only shallowly tested to 70 metres below surface, with potential for additional resources in repeated shoots

   below this level and along strike.
-  Hibernian Shear Zone over 15km in length and sparsely tested.

To Find Out More about Egerton Project

Zelica Project

Metallurgical test work in 2006 indicated that recoveries in excess of 90% could be obtained by vat leaching, with fast leach times and low reagent consumption.. Plans were made to establish a 600,000 tpa Vat Leach operation, however the project was not commissioned. Three vat ponds were built and remain on site for potential use.

Summary

 -  JORC Code Compliant Resource of 1.2 million tonnes @ 2.22 g/t Au for 85,700 ozs
 -  The deepest mineralised intercepts are around 65 metres below surface and the structure appears to be open at depth.
 -  Metallurgical test work indicates that recoveries in excess of 90% could be achieved by vat leaching.
 -  Vat leach ponds have been developed on site but not commissioned.

To Find Out More about Zelica Project

Giant Well Project

Summary

Key points include:

-   48 km2 of tenement holding as a granted exploration licence.
-   Mineralised shear zone exceeding 500m identified at Cow Bell Dig prospect.
-   Potential for further discoveries.

The project is located within the Murrin greenstone belt adjacent to the Keith-Kilkenny and Celia Tectonic Zones.

A mineralised shear zone has been identified by RAB drilling and incorporates the Cow Bell Dig prospect (500m strike) and continues to the north and south under alluvial and colluvial cover. Better results include 7m @ 3.91 g/t Au from 45m, 3m @ 11.4 g/t Au from 21m, 4m @ 2.23 g/t Au from 29m. For a full list of significant results from historical drilling at Giant Well.

To Find Out More about Giant Well Project

Peter Cunningham – Chairman
Mr Cunningham has a degree in Applied Science (Mining Engineering). He has thirty years experience in mine development and operations. He was an Executive Director of Hill 50 Gold NL and Abelle Limited, and Managing Director of Bluestone Tin Limited in the period 1998 to 2005. Presently he is managing director of Auvex Resources Limited and Chairman of Auvex Manganese Limited.

John Davis – Managing Director
Mr Davis is a Geologist with more than 30 years experience in mineral exploration and development in Australia and Southern Africa, including gold, base metals and rare metals. He has extensive experience in the gold sector, from regional exploration, resource development to production, including as Exploration Manager/Chief Geologist for Metana Minerals NL. He was founding managing director of Jabiru Metals Ltd, where he played a key role in the discovery of the Jaguar base metal deposit, and a Technical Director of Monarch Gold Mining Co Ltd.

Justin Brown – Non-Executive Director
Mr Brown is a geologist with extensive experience in minerals exploration in Australia, New Zealand and Africa. He has a strong technical background with experience in mineral exploration and mining from grass roots target generation through to resource mining and mine production. Justin’s successful career in the mining industry includes a position managing exploration for a large multinational company in the Leonora, Edjudina and Marvel Loch regions of Western Australia. Justin has in recent years expanded his corporate involvement in the industry and is currently managing director of ASX listed company Montezuma Mining Company Limited.

Gary Morgan – Non-Executive Director
Mr Morgan is a businessman who has developed a substantial market research business now operating in Australia, New Zealand, USA, UK and Indonesia. He is Executive Chairman of Australia’s most highly regarded research company, Roy Morgan Research Pty Ltd, whose clients include most major Australian companies, multi-national companies and institutions operating in Australia.

Gary is Chairman of Haoma Mining NL, which has mineral tenements located in the Marble Bar/Pilbara Region, Western Australia and at Ravenswood, Queensland.

Peter Cole – Non-Executive Director
Mr Cole has 35 years experience in the mining and processing industry, and has extensive knowledge of site management, processing and the research fields.

Peter is currently the General Manager of Haoma Mining NL and Kitchener Mining NL.

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