ARC Exploration Limited has executed a binding Heads of Agreement to acquire 100% of the issued capital of Cyprium Australia Pty Ltd. At completion of the Transaction, Mr. Gary Comb will be joining the company as Non-Executive Chairman and Mr. Barry Cahill as Executive Director. Both Mr. Comb and Mr. Cahill are experienced mining industry professionals and the current board of ARX believes their appointment will be beneficial to the future growth and development of the company with the aim to build a mid-tier copper business and continues to assess other copper projects in Australia. Mr. Comb has over 35 years' experience in the mining industry, most recently as Non-Executive Chairman of Finders Resources Ltd. and was previously the Managing Director of Jabiru Metals Ltd. where he oversaw the acquisition, feasibility study and construction of the Jaguar copper/zinc mine in Western Australia as well as the successful sale of the company to Independence Group NL.

Mr. Cahill is a mining engineer with over 30 years' experience in exploration, mining and management throughout Australia, most recently as Managing Director of Finders. He has extensive experience in the management of all facets of mining, project development and construction. Mr. Cahill has been an executive director of a number of public companies including Operations Director of Perilya Limited, Managing Director of Australian Mines Limited and Managing Director of Norseman Gold Plc.

Current Non-Executive Directors, Mr. Nicholas Rowley and Mr. Marcello Cardaci will remain on the board. Mr. Wayne Apted will be appointed Chief Financial Officer and Company Secretary and Mr. Peter van Luyt will be appointed as Chief Geologist. At completion of the Transaction it is anticipated that Mr. Simon Taylor will resign from the ARX Board.