Lindian Resources Ltd. : New Porphyry Style Copper Discovery at Masapelid

NEW PORPHYRY STYLE COPPER DISCOVERY AT MASAPELID ASX Release

24 January 2012

LINDIAN RESOURCES LIMITED

Level 1 / 33 Richardson Street

West Perth , Australia WA 6872

Tel: [phone]

Fax: [phone]

Contact: Steve Leithead Managing Director

E-mail: infoatlindianresources.com

For the latest news:

www.lindianresources.com.au

Directors / Officers: Matthew Wood Steve Leithead Scott Funston Angus Caithness Brian McMaster

ASX Symbol: LIN, LINOA

Lindian Resources Limited ("Lindian") is extremely pleased to announce the discovery of porphyry style copper mineralisation at Layab on the east coast of the Masapelid Project in the Philippines (Figure 1).

Lindian has received initial results for drilling of a new discovery of porphyry style copper±silver±gold on the Masapelid Project (Figure 2).

Assay results reveal diamond drill hole BML-027 targeted to test the easternmost extent of the Manuel Vein System (MVS) has intersected a broad zone of porphyry style copper mineralisation with associated low levels of gold and silver mineralisation (Figure 3). Whilst porphyry rock types have not been recorded in holes BML-027, the style and extent of mineralisation is very similar to that recorded in drilling of the Sabang Prospect on the southern portion of Masapelid Island.

Hole BML-027, drilled to a depth of 182.90 metres recorded mineralisation over a significant portion of its total drilled depth (Figure

4).

Copper±silver±gold mineralisation has been confirmed in variably argillised, choritised and silicified andesite and andesitic breccia host rocks.

Significant results obtained include:

174.00 metres from 2.00 metres at 0.22% copper, 0.50g/t silver including:

19.00 metres from 2.00 metres at 0.40% copper, 1.91g/t silver and 0.16g/t gold which also includes an interval of 4.00 metres from

11.00 metres at 0.31% copper, 6.70g/t silver and 0.65g/t gold.

70.00 metres from 43.00 metres at 0.24% copper, 0.36g/t silver and 0.06g/t gold which also contains an interval of 2.00 metres from

43.00 metres at 0.71% copper, 1.45g/t silver and 0.10g/t gold.

9.00 metres from 167.00 metres at 0.33%

copper, 0.20g/t silver and 0.15g/t gold.

LINDIAN RESOURCES LIMITED

Assay results are awaited for a scissor hole, BML-028, drilled across the same zone of mineralisation (Figure 3).

The low-grade nature of copper and precious metals in the comparatively near surface environment in hole BML-027 is usual in island arc settings where there is typically acid leaching of copper (and other metals). Given this, the company considers that the results from hole BML-027 are highly significant.

Pending receipt of results from BML-028, the company will assess data for this new discovery and plan follow up work to assess its full potential.

The Company believes this is a tremendous result and supports Lindian's ongoing exploration focus on the Masapelid Project.

Steve Leithead Managing Director

COMPETENT PERSONS STATEMENT

The information in the above announcement that relates to Exploration Results is based on information compiled by Mr Steven Leithead, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Leithead is a Director of Lindian Resources Limited. Mr Leithead has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Leithead consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

DISCLAIMER

The announcement may contain certain forward-looking statements. Words 'anticipate', 'believe', 'expect',
'forecast', 'estimate', 'likely', 'intend', 'should', 'could', 'may', 'target', 'plan', and other similar expressions are intended to identify forward-looking statements. Indication of, and guidance on, future earnings and financial position and performance are also forward-looking statements.
Such forward-looking statements are not guarantees of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Lindian, its officers, employees, agents and associates, which may cause actual results to differ materially from those expressed of implied in such forward-looking statements.
Actual results, performance, or outcomes may differ materially from any projections or forward-looking statements or the assumptions on which those statements are based.
You should not place any undue reliance on forward-looking statements and neither Lindian nor its directors, officers, employees, servants or agents assume any responsibility to update such information.

LINDIAN RESOURCES LIMITED

Figure 1: Lindian Resources Limited - Philippines Projects.

LINDIAN RESOURCES LIMITED

Figure 2: Masapelid Project

LINDIAN RESOURCES LIMITED

Figure 3: Layab Prospect - Showing location of Manuel Vein System

LINDIAN RESOURCES LIMITED

Figure 4: Layab Prospect - showing location of holes BML-027 and BML-028

LINDIAN RESOURCES LIMITED

Table 1: Masapelid Project - Significant Results For BML-027

Prospect	Hole Number	Easting	Northing	Azimuth	Dip	Depth (metres)	From (metres)	To (metres)	Interval (metres)	Gold (g/t)	Silver (g/t)	Copper (%)
LAYAB PORPHYRY PROSPECT
	BML 027	512149	1073083	180	-60	182.90	2.00	176.00	174.00	0.08	0.50	0.22
	Including						2.00	21.00	19.00	0.16	1.91	0.40
	which contains						11.00	15.00	4.00	0.65	6.70	0.31
	Including						43.00	113.00	70.00	0.06	0.36	0.24
	which contains						43.00	45.00	2.00	0.10	1.45	0.71
	Including						167.00	176.00	9.00	0.15	0.20	0.33
	BML 028	125.65747	9.70301	360	-60	154.20				At Laboratory

LINDIAN RESOURCES LIMITED