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Reply from GIP:

Dear Mr ********

Thank you for your email.

We confirm that the revenue of $154,000 shown in the September 2012 quarterly cash flow report was from the sale of tin from the Abu Dabbab Alluvial Mining Project. The $154,000 revenue related to the first and second shipments.

Please refer to Gippsland’s ASX release dated 15 October 2012 (attached) for an indication of the expected financial estimates (revenue, direct and indirect cash costs, and capital costs) for the alluvial tin project following the processing plant expansion. Regards

Geoff

Geoff Hawkins
Chief Financial Officer
Gippsland Limited