German Government Guarantee for Abu Dabbab

Attached is Gippsland's announcement relating to the German Government's UFK facility which provides both commercial and political risk cover.

The eligibility of Abu Dabbab for UFK cover reflects the Project's outstanding importance for the Federal Republic of Germany in securing a reliable long term supply of this vitally important strategic metal.

While a UFK facility clearly provides significant direct benefits regarding debt finance, it also serves to provide equity investors with increased confidence in the Project in general.

For your convenience, a plain text version of the announcement is also attached.

Best regards
Jack Telford
Executive Chairman
Gippsland Limited
www.gippslandltd.com