RED OCTOBER RESOURCES LIMITED (ROS)

name changed to White Eagle Resources Ltd

all resolutions put to shareholders at toda" Annual General Meeting were carried

releases Annual Report to shareholders

company advises it has completed all of the settlement conditions of the Kytco BV settlement agreement advised on 5 April 2012

company has reached agreement with Kytco BV (Kytco) for the release of Red October from any and all conceivable claims past and future, in respect of the Share Sale Agreement to acquire the Akjilga Silver Project in Tajikistan (refer ASX Announcement 22 June 2011) upon payment of US$100,000 to Kytco

company advises the following securities will be released from escrow on 1 February 2012: Ordinary Fully Paid Shares: 2,800,000

the Company has been advised by its financial advisors that the capital raising for the Akjilga Silver Project in Tajikistan ("Akjilga Project") has not been successful. Accordingly, the Company will not be progressing with the transaction. CEO and Managing Director Ross Smith and Executive Director of Operations Ross Nairn have both resigned from the Company effective immediately. Non-executive directors Norman McCleary and Dr Saliba Sassine will be acting CEO and Chairman, respectively, for the interim

Executive Chairman Ross Smith, Company legal representatives, a geological consultant from Wardell Armstrong International (WAI) along with a Kazakhmys PLC executive and Central Asia Minerals staff (100% Akjilga Silver Project Owner) recently visited the Akjilga Silver Project in Eastern Tajikistan in Central Asia. WAI visited the site on Monday 25 July as part of their technical due diligence review for their input into the independent experts report for the forthcoming Notice of Meeting and re-compliance Prospectus

Red October Ltd has reached an agreement with ULY-TAUK LLP and its owners to acquire a 51% interest in the Tesiktasskoye copper deposit located near Balkash in central Kazakhstan for up to $US30 million worth of shares subject to shareholder approval at the VWAP for the 5 days prior to the closing date of the contract. The number of shares will be limited to 20% of the issued capital with any balance to be made up through a cash payment. ROS will also pay the sellers $US14 million from the upcoming proposed capital raising

the Notice of Meeting (NOM) has been completed and has been submitted to the ASX and ASIC for approval

A detailed technical overview on the Yellowstone Project in Kazakhstan and the Akjilga silver project in Tajikistan is being prepared by Wardell Armstrong (the Company's appointed independent geological consultants) for inclusion in the Notice of Meeting that will be sent to shareholders in the week beginning 18 July 2011. The Company expects this technical overview to be available during the week beginning 4 July 2011. Thereafter, the meeting documents will be submitted to the regulators for approval and will then be dispatched to shareholders. In light of the above, the Company anticipates that its securities will be reinstated to trading on ASX during the week beginning 18 July 2011

announces the commencement of its due diligence drilling program at the Company's ? agship, Yellowstone Copper Project located in a rich copper producing area of Kazakhstan near the Sayak and Akbastou copper mines, owned by Kazakhmys PLC

the proximity of the announcements of the Transactions to the Company's listing on the ASX is the main driver for the Company's prolonged suspension from trading. The potential effect of the two transactions in Kazakhstan and Tajikistan on the Company's capital structure and balance sheet is significant. As a result of this and in consultation with the ASX, Red October will be required to seek shareholder approval for the Transactions to proceed. Commensurate with this the Company will seek approval from shareholders to issue a Prospectus to undertake a capital-raising of a sufficient size to enable the Company to achieve its corporate objectives

company confirms that it has successfully bid for the Akjilga Silver Project in Tajikistan, owned by Kazakhmys PLC (LON: KAZ), a FTSE 100 Company listed on the London Stock Exchange (the "Project"). The purchase price for the Project is US$12M, which includes a 90-man exploration camp. The Company has paid an initial US$2 million deposit through existing cash reserves and it is the Company's current intention to spin the Project out into a new listing or vend the Project direct into another listed entity. Early stage negotiations have already commenced with an entity listed on TSX in this regard. The Company is presently in discussions with the ASX regarding the application of Chapter 11 of the Listing Rules with respect to the acquisition and will provide further information to the market as soon as it can

Segue Resources Ltd bought 15,000,000 Red October Resources shares on December 17, 2010, becoming a substantial shareholder with 15,000,000 shares (34.01%)

securities suspended pending an announcement

securities reinstated

securities suspended pending an announcement