Stonehenge Metals Ltd is pleased to provide shareholders with an update on the upcoming drill programme at its Daejon Project. As previously advised, Stonehenge received approval encompassing road building, drill site preparation and drilling on land parcel Daejon 6-1 (Sanji Permit). Two drill sites were approved as part of the Sanji Permit application and Stonehenge plans to stage the drilling activities to meet specific measurable Company objectives. A two stage programme is planned on Daejon 6-1. Stage 1 will comprise of up to 5 diamond drill holes for 1,700m which will be used to confirm results of historical drilling and provide data for variography studies. The variography study will aim to provide optimum drill spacing for resource drilling at Daejon and will be completed prior to finalising Stage 2 of the programme. The two stage programme will aim to provide Stonehenge with an upgrade in the confidence of the existing uranium resource and aim to delineate a maiden Vanadium and Molybdenum resource using robust sampling and analytical methods.

It is anticipated that Stage 2 will follow Stage 1 without any interruption to activity. The areas to be targeted are at a shallow depth from surface (<200m) in an area inferred to have a relatively high metal accumulation based on thick mineralised intervals intersected by historical holes DH74-1, 80-DE-27, 80-DE-26. As such mineralisation in this targeted area may be amenable to extraction from relatively shallow open pits and or bulk underground stopes. Stonehenge has a standing land access agreement with the owner of Daejon 6-1 and is working towards completing road access and drill sites as soon as possible. The planned access road is 1.4km long and has been designed and permitted in compliance with temporary mountain road specifications.

The road building phase of the project is a key part of the project and it is essential that a safe and effective access is established resource development activities over several years. It is estimated that the 1.4km track will take approximately 30 days to complete. The road will enable access to two permitted drill sites spaced at about 160m ENE – WSW. These sites will enable initial resource drilling of the mineralisation at Chubu to upgrade confidence in the existing eU3O8 inferred resource and provide sampling for a maiden vanadium resource. It is planned to start drilling on Daejon 6-1 in the first quarter of 2013 once all site accesses have been completed and a suitable drill rig is on site.

The initial 2013 resource drilling programme on Daejon 6-1 has been staged to meet company strategic objectives. Stage 1 of the programme is designed to confirm the location of the historical mineralisation with a small programme of 80m spaced holes that will also twin DH74-1 (true width 41.9m at 270ppm eU3O8) and provide initial variography data for input into the Stage 2 programme. Stage 2 of the programme is designed to deliver a high quality inferred resource in the upper 200m of the central Chubu area of the Daejon Project. Depending on results and input with surface mapping and sampling it may be possible to further upgrade some of this resource drilling to higher confidence categories.