Drake Resources Limited

Asian Activities Report for June 22, 2011 includes: Drake Resources Limited (ASX:DRK) reported extensive gold mineralisation in Mauritania; Centaurus Metals Limited (ASX:CTM) upgraded the JORC resource estimate for its 100% owned Jambreiro Iron Ore Project in Brazil; Universal Coal plc (ASX:UNV) has completed the first phase of resource drilling at the Berenice-Cygnus Coking Coal Project in South Africa; Silver Lake Resources Limited (ASX:SLR) is progressing its ongoing exploration at its Mount Monger gold operations in Western Australia.

Australian Market Report of January 28, 2011 includes: Liquefied Natural Gas Limited (ASX:LNG) form strategic partnership with China Huanqiu Contracting & Engineering Corporation; PT ANTAM (Persero) Tbk (ASX:ATM) acquire Sarolangun Coal Mine in Indonesia; Drake Resources Limited (ASX:DRK) reported high gold grades sampling from Mauritania; Horseshoe Metals Limited (ASX:HOR) announced highly encouraging results from Horseshoe Lights Cu-Au project in Western Australia.

Australian Market Report of December 24, 2010 includes: Drake Resources (ASX:DRK) today announced a placement of A$2.18 million; Discovery Metals Limited (ASX:DML) announced high grade results at the infill drilling; Planet Metals (ASX:PMQ) has signed a farm-in agreement with Drummond Gold Limited (ASX:DGO); Mako Energy Limited (ASX:MKE) successfully closed a placement of A$4.5M.

The Australian market opened flat on Tuesday, following mixed leads from offshore markets overnight. In early trade, the S&P/ASX200 index fell 0.1%, to 4433.8 points and the All Ordinaries index slipped 0.1%, to 4462.3 points.

Rex Minerals Limited (ASX:RXM) and Drake Resources Limited ("Drake") have modified the terms of the option to purchase agreement for the Mt Carrington Project which was announced to the ASX on 29 April 2008.