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Eritrean Geophysical Survey Completed

ERITREAN GEOPHYSICAL SURVEY COMPLETED Gippsland Limited (Gippsland or the Company) GIP, FRA GIX is pleased to announce the completion of a 5,161 line8208kilometre airborne geophysical survey over the Adobha and Gerasi South licence areas in Northern Eritrea held by its wholly owned subsidiary Adobha Resources (Eritrea) Pty Ltd. The airborne geophysical survey covered 19 target areas selected on the basis of Thematic Mapper (TM anomalies, geological targets, and geochemical anomalies identified during geochemical surveys by Gippsland completed during late October to early November 2009, May 2010 and July 2011. The survey was flown by Geotech Airborne Limited using a Versatile Time Domain Electro Magnetic system (VTEM) at a line spacing of 200m with a nominal height of 808208120m determined by the topography. Aeromagnetic data was also acquired as part of the survey. Interpretation of the preliminary data by the Companys consultant geophysicist has identified 16 electromagnetic (EM) anomalies which have been ranked on the basis of their EM response (intensity and decay rate), geological setting, proximity to TM anomalies and presence of coincident geochemical anomalies. Details of each of the anomalies will be provided after the final data has been received from the contractor. A work programme has been scheduled for early October to conduct a field examination of all of the EM anomalies in order to determine appropriate further exploration with a view to drill testing at the earliest opportunity. Pursuant to an agreement dated 25 August 2011, the Company has successfully converted the Gerasi South Prospecting Licence to an Exploration Licence. Gippsland Chairman Ian Gandel stated “The geophysical survey has identified some very high priority targets located in the right geological setting. The presence of anomalous Cu, Pb and Zn in drainage samples from the target areas gives us further encouragement for the discovery of mineralisation in this newly emerging VMS region.” John Dunlop Director For further detail, contact Suite 4, 207 Stirling Highway Claremont WA 6010 Australia Phone 61 8 9340 6000.

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