Significant, Company Defining JORC Gold Project Acquisition

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1 Bullseye Company Announcement Significant, Company Defining JORC Gold Project Acquisition Bullseye Mining Acquires 373,000 ounce JORC Gold Resource and Surrounding 162km 2 Greenstone Tenement Package in one of the World s Richest Gold Provinces. Acquisition of large Greenstone tenement holding (over 162km 2 ), in world class Gold region. The initial 373,000 ounce JORC Gold Resource sits on 3 existing Granted Mining Leases/Licences. The new project comprises 8 known Gold deposits in close proximity to each other, which are newly discovered and have never been mined before. All deposits are located close to the surface, enabling Bullseye to target enriched, potentially higher grade oxide and transitional Gold, at anticipated relatively low mining costs. Preliminary metallurgical works indicate excellent Gold recoveries are achievable and as a result, the project appears amenable to the set-up of relatively low capital cost Heap Leach Gold processing - offering Bullseye an attractive pathway to develop near-term cash flow. All deposits remain open along strike and at depth and offer strong potential to further increase the size of the overall JORC Gold Resource and life of mine of the Project. Mining Scoping Studies now underway. Acquisition and Locality Overview 11 th November 2013: The Board of Bullseye Mining Limited (Bullseye or the Company) are delighted to advise that the Company has now executed a binding agreement to acquire a significant existing JORC Gold Resource, totalling 373,000 ounces of Gold, including 3 existing Mining Leases/Licences and has also executed a second binding agreement to acquire a substantial, complimentary surrounding Greenstone tenement package, totalling over 162km 2. The new project acquisitions are located in the Leinster/Laverton district of Western Australia.

2 Commenting on the new Gold acquisitions, Bullseye Chairman, Peter J Burns stated, This is a landmark acquisition for Bullseye and significantly strengthens the company by underpinning it with a sizable existing JORC Gold Resource. Mr Burns added, What is most exciting about the new acquisitions is the strong potential to increase the size of the JORC Gold Resource further and increase the potential life of mine of the project. We have now secured a dominant greenstone tenement package totalling over 162km 2 which is located in one of the world s richest Gold provinces. We are surrounded by numerous large world-class Gold deposits, which combined, have produced in excess of 50 million ounces of Gold to date. The addition of these new Gold acquisitions brings Bullseye s total Gold project tenure to in excess of 500km 2, including 6 existing Mining Leases/Licences. Regional Locality The Leinster, Leonora and Laverton districts in Western Australia are some of the State s premier Gold regions. More than 50 Million ounces of Gold has been produced, with the region hosting many +1million ounce Gold deposits and several world class Gold deposits. Wiluna Bullseye s Laverton Gold Project Regis Resources Listed below are a range of some of the known Gold Resources in the area. (Some of these Resources have now been partly mined) Moolart Well: 2.7Moz Gold Resource 0.7g/t Gold), 0.5Moz Gold Reserve 1.36g/t Gold) Garden Well: 2.5Moz Gold Resource 1.29g/t Gold, 1.6Moz Gold Reserve 1.46g/t Gold) Rosemont: 1.08Moz Gold Resource Gold), 0.5Moz Gold Reserve 1.73g/t Gold) Leinster Sunrise Dam: 10Moz Gold Resource (89Mt@3.6g/t Gold) Mt. Morgans: 5.5Moz Gold Resource 14.3g/t Gold Laverton Wallaby: 5Moz Gold Resource 3.9g/t Gold) Granny Smith: 3Moz Gold Resource (63Mt@1.5g/t Gold) Leonora Gwalia: 3.7Moz Gold Resource 8.2g/t Au), 1.75Moz Gold Reserve 8.3g/t Au) Gold Deposit Nickel Deposit King of the Hills: 377Koz Gold Resource 6.4g/t Au), 68Koz Gold Reserve 4.3g/t Au) Tower Hill: 625Koz Gold Resource 3.8g/t Au), 306Koz Gold Reserve 3.7g/t Au)

3 Regional Locality The Leinster, Leonora and Laverton districts in Western Australia are some of the State s premier Gold regions. More than 50 Million ounces of Gold has been produced, with the region hosting many +1million ounce Gold deposits and several world class Gold deposits. Wiluna Listed below are a range of some of the known Gold Resources in the area. (Some of these Resources have now been partly mined) Bullseye s Laverton Gold Project Wiluna: 4.6Moz Gold Resource Bronzewing: 2.8Moz Gold Resource Mt. McClure: 0.8Moz Gold Resource Leinster Darlot: 3Moz Gold Resource Lawlers: 2.5Moz Gold Resource Laverton Agnew: 4Moz Gold Resource Leonora Thunderbox: 2Moz Gold Resource Each Banockburn: 0.6Moz Gold Resource Represents an Existing Gold Deposit Gold Deposit Nickel Deposit Exciting Potential to Further Grow the JORC Gold Resource Bullseye s new JORC Gold Resource and large surrounding greenstone tenement package is collectively called The Laverton Gold Project and so far, comprises a total of 8 known near-surface Gold deposits which are all within a 15km haulage radius. Bullseye Tenements

4 The current 373,000 ounce JORC Gold Resource is comprised primarily from two of the existing near-surface Gold deposits, which are within a 4km radius of each other. The additional 6 known Gold deposits all have existing drill holes, showing exceptional results and Bullseye will target further works on these 6 known Gold deposits with a view to delineating further JORC Gold ounces and expanding the overall size of the JORC Gold Resource of the project. All 8 known Gold deposits remain open along strike and at depth. SIGNIFICANT DRILL INTERCEPTS (From existing JORC Gold Resource) DEPOSIT 1 Depth From (m) Depth To (m) Significant Hole ID (<180m) Intercept Deposit 1 Depth From (m) Depth To (m) Significant (g/t Gold) Hole ID (<160m) Intercept BDRC (g/t Gold) BDRC035 (inc) BDRC BDRC035 (inc) BDRC014 BDRC BDRC014 (inc) BDRC014 (inc) BDRC014 (inc) BDRC003 BDRC BFRC BDRC m BDRC008 BDRC BDRC BDRC009 BDRC058 (inc) BDRC058 (inc) m BDRC011 BDRC058 (inc) m BDRC m BDRC014 BDRC060 (inc) m BDRC060 (inc) m BDRC m BDRC061 (inc) BDRC017 BDRC061 (inc) m BDRC061 (inc) Continued on next page...

5 SIGNIFICANT DRILL INTERCEPTS Cont. (From existing JORC Gold Resource) Deposit DEPOSIT 1 1 Hole ID Hole ID Depth Depth From From (m) (m) Depth Depth To To (m) (m) (<160m) (<180m) Significant Intercept (g/t Gold) BDRC001 BDRC m BDRC035 (inc) m BDRC035 (inc) BDRC BDRC BDRC014 (inc) m BDRC014 (inc) m BDRC003 BDRC014 (inc) m BDRC m BFRC BDRC BDRC BDRC m BDRC m BDRC009 BDRC058 (inc) m BDRC058 (inc) m BDRC058 (inc) m 2.54 BDRC BDRC m BDRC060 (inc) BDRC BDRC060 (inc) m BDRC m BDRC061 (inc) m BDRC061 (inc) m BDRC061 (inc) BDRC DEPOSIT 2 Hole ID Depth From (m) Depth To (m) (<185m) Significant Intercept (g/t Gold) BFRC BFRC RAB BFRC RC RAB BFRC BFRC BFRC34 (inc) BFRC34 (inc) BFRC BFRC36 (inc) BFRC36 (inc) BFRC DRP BFRC BFRC15 (inc) DRP BFRC BFDDH BFRC BFRC BFRC

6 Commenting on the potential to further expand Bullseye s JORC Gold Resources, Mr Burns stated, Last November our Company target was to achieve a combined JORC Resource of 500,000 ounces of Gold from our Southern Cross Gold Project portfolio. As a result of these new acquisitions, we have now increased the overall target for Bullseye to achieve a combined JORC Resource of 1.5+ million ounces of Gold. We will maintain our previously set target of achieving a 500,000 ounce JORC Gold Resource from our Southern Cross Gold Project and we have now set a target to achieve a 1 million ounce Gold JORC Resource from our new Laverton Gold Project, making up the combined total 1.5 million ounce company target. Focus on Near Term Cash-flow with Low Capital Outlay Whilst there is strong potential to increase the size of the JORC Gold Resource at the Laverton Gold Project, Bullseye s primary focus is towards generating a strong cash flow from the project as soon as possible. One of the key criteria for Bullseye in sourcing the Laverton Gold Project was to find a project which could potentially deliver a strong cash flow to the Company in a relatively quick timeframe, with a low capital outlay. The Laverton Gold Project offers a number of significant key benefits: Strong regional location and large greenstone land holding (over 162km 2 ). The initial JORC Gold Resource sits on 3 existing Granted Mining Leases/Licences. The deposits are newly discovered and have never been mined before. The deposits are located close to the surface, enabling Bullseye to target enriched, potentially higher grade oxide and transitional Gold, at anticipated relatively low mining costs. All 8 Gold deposits are in close proximity to each other. Preliminary metallurgical works indicate excellent Gold recoveries are achievable and as a result, the project appears amenable to the set-up of relatively low capital cost Heap-Leach Gold processing. All 8 Gold deposits remain open along strike and at depth and offer strong potential to further increase the size of the overall JORC Gold Resource from the Project.

7 Mining Scoping Studies Now Underway Bullseye is now undertaking preliminary mining scoping studies for the Laverton Gold Project and initial results are looking positive. Some key initial scoping target parameters for the Laverton Gold Project are as follows: Targeted Potential JORC Gold Resource 1 million ounces of Gold Targeted Potential Production Profile Targeted Capital Cost (establishment of Heap Leach Operations and Working Capital) Potential First Ore Mined ~ 30,000 ounces of Gold per annum ~ AUD$ 7 million ~ months Targeted Operating Cash Cost Targeted Potential Annual pre-tax Net Profit (@ AUD$1,400 per ounce Gold Price) ~ AUD$800 - $900 per ounce ~ AUD$15million - $18 million per annum Note: The outlined mining scoping parameters serve as a preliminary guide only and may or may not represent the actual production economics of the project. The outlined parameters are based on an early stage initial scoping assessment of the project and numerous assumptions, which may or may not be achieved. The outlined parameters could change significantly either positively or negatively as further works are carried out and the project progresses towards a more certain Bankable Feasibility stage. Opens up 3 rd Gold Province and Strong Project Pipeline for Bullseye The acquisition of the Laverton Gold Project opens up a whole new third Gold province for Bullseye and creates a strong value chain and project pipeline for the Company in the Short, Medium and Long term. Bullseye s Gold portfolio now comprises of an advanced near-term minable cash flow project ( Laverton Gold Project ), numerous advanced and well-defined targets for medium-term Resource definition ( Southern Cross Gold Project ), as well as significant potential areas to make future new greenfield exploration discoveries ( Aurora Gold Project ).

8 Opportunity to Invest further in Bullseye In order to further develop the Laverton Gold Project and progress potential stock exchange listing options for Bullseye, the Company is undertaking a capital raising of approximately A$4 million. In light of tight current market conditions and the objective to raise the funds quickly, the Board have priced the capital raising attractively at A$0.10 per share. The Company has received very strong external investor interest in the potential offering, however the Board of Bullseye will give priority in the capital raising to all existing Bullseye Mining Limited shareholders. Any remaining shares not subscribed for by Bullseye shareholders will then be offered to new external investor parties. Please note that this Bullseye Company Announcement dated 11 th November 2013 does not constitute an offer of securities in Bullseye. Those who wish to subscribe for shares in Bullseye must qualify as a Sophisticated Investor under Section 708 of the Corporations Act and must contact the Company directly to receive appropriate share subscription documentation. For further information and investor enquiries, please contact: Peter G Burns peter.burns@bullseyemining.com.au Peter J Burns peter@bullseyemining.com.au Mobile: Mobile: