Mr. Michael McPhie reports

CURIS ACHIEVING SIGNIFICANT MILESTONES ON FLORENCE COPPER PROJECT - DRAWS DOWN ON US$40 MILLION FUNDING FROM RED KITE

Curis Resources Ltd. has received an early release of the second tranche of financing from the $40-million (U.S.) senior secured bridge loan facility from RK Mine Finance Trust I, following receipt of the Arizona aquifer protection permit (APP) for phase 1 operations at the Florence copper project. This financing is being used for the purchase of copper processing equipment, and to finance infrastructure and site improvement activities at the company's flagship Florence copper project in Arizona, United States.

"Phase 1 development of the Florence copper project is fully funded with the support of Red Kite," commented Curis president and chief executive officer Michael McPhie. "With the receipt of the key State of Arizona operating permit in September and the second tranche of funding from Red Kite now in place, we can complete our purchase of copper processing equipment, and initiate infrastructure and site improvement activities."

In May, 2012, Curis announced it had entered into a $40-million (U.S.) senior secured bridge loan facility and copper cathode offtake agreement with Red Kite. Upon signing of this agreement, Curis drew down $16.2-million (U.S.) of the loan facility and recently drew down another $6-million (U.S.) following receipt of the state aquifer protection permit on Sept. 28, 2012.

"With our financing in place and our key state operating permit being secured, initial activities relating to site and infrastructure improvements in support of phase 1 development of the Florence copper project are under way," said Mr. McPhie. "A significant amount is being invested locally in the town of Florence and in Pinal county, Arizona, providing the opportunity for new jobs and further reinforcing Florence copper's positive impact on the local economy."

Florence copper project update

Feasibility-level optimization and design studies for the Florence copper project are progressing with a formal prefeasibility study of the Florence copper project scheduled for release in the fourth quarter of 2012. Initial activities relating to site and infrastructure improvements in support of phase 1 development have now begun, and construction activities relating to the in situ extraction well field, and solvent extraction and electrowinning (SX/EW) facility are scheduled to begin following the completion of project permitting.

Phase 1 of the Florence copper project will consist of a 24-well in situ copper extraction field constructed to simulate full-scale operations and a state-of-the-art solvent extraction/electrowinning (SX/EW) facility that will produce London Metal Exchange-grade pure copper cathode.

About RK Mine Finance

RK Mine Finance provides mining companies with project financing and metal offtake agreements for initiation or expansion of mine production, and is part of the Red Kite group. Red Kite operates across the global metals industry from offices in Bermuda, Denver, Hong Kong, London, New York, Shanghai and Sydney. Investors in Red Kite funds include college endowments, foundations, family offices, pensions and other institutional investors.

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