Sipa Resources Limited has Received the Final Assays from the Drill Program Completed Earlier in the Year At the Paterson North Project

Sipa Resources Limited has received the final assays from the drill program completed earlier in the year at the Paterson North Project, a Farm-in and Joint Venture Agreement (Agreement) with Rio Tinto Exploration (RTX), with Sipa as the operator. Drilling at Paterson North commenced in late June, testing several geophysical targets across the project, and was completed in mid-August. Assays from four holes drilled in the northern part of the project area were previously reported.

Results from the remaining 18 holes drilled in southern part of the project area show no significant anomalism in the targeted metals (copper, gold) and are represented of the lithologies intersected. RTX Agreement: Under the Terms of the Agreement, RTX can earn a 70% interest in the project by sole funding expenditure of $12M (being $6M to earn 55% and a further $6M to earn to 70%) and increase its interest to 80% by sole funding to the earlier of a JORC resource of A$1B in-ground value or the completion of an `Order of Magnitude Study'. Sipa is the current manager of the Paterson North Project.