QUARTERLY ACTIVITIES REPORT

FOR THE PERIOD ENDED 30 JUNE 2012

ASX CODE: EQU

LEVEL 2, SPECTRUM │ 100 RAILWAY ROAD, SUBIACO WA 6008 │ PO BOX 8281, SUBIACO WA 6008

TELEPHONE: (08) 9367 8133 │ FACSMILE: (08) 9367 8812 │ EMAIL: info@equatorresources.com.au │ WEBSITE: www.equatorresources.com.au

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Activities Report During the reporting period Equator Resources commenced the reverse circulation (RC) drilling program on the Bukon Jedeh license, centred on the area around the artisanal mining centre of Government Camp. Programs of soil sampling continued on the Bukon Jedeh and River Gee licenses and stream sediment sampling was completed on the Maryland license. Activities – Liberia

Bukon Jedeh Mining Concession Agreement

In late May the RC drilling program commenced on the Bukon Jedeh license and at the end of the quarter 50 holes had been completed for a total of 4,175m of drilling. The holes were drilled on a pattern with drill cross lines spaced 160m apart, with the holes spaced between 40 and 80m apart on the cross lines. Most holes were drilled to a final depth of 80m, with two holes being pushed to 160m. Additional holes were sited to target areas of artisanal saprolite workings and significant results from earlier trenching. The samples from the drilling were submitted to SGS in Monrovia for analysis, and it is expected that results will begin to be received from late July and into August.

Subsequent to the end of the quarter the drilling program had to be suspended due to the onset of wet season rains. Rainfall across the country was also beginning to damage roads and affect the Company’s ability to logistically support the ongoing drilling program with critical supplies like food and fuel. It was decided to withdraw the drill rig and associated equipment from site while it was still possible to do so. The drill rig and its support equipment were moved to Monrovia and will be available to continue the program as soon as access to the site can be re-established. Normally the heaviest rainfall in the Bukon Jedeh area occurs during August and September, so it is expected that drilling will recommence early in the December quarter.

Regional geochemical soil sampling continued on the Bukon Jedeh license during the quarter spreading out from around the artisanal mining centre of Government Camp. On lines spaced 800m apart, some 345 soil samples were collected at intervals of 100m or 200m. These sampling intervals were varied depending on their location in relation to known areas of previously identified anomalism and areas of artisanal workings.

HIGHLIGHTS

• Commenced RC drilling on the Bukon Jedeh license

• Completed 4,175m of drilling during the quarter

• Continued soil sampling programs on the Bukon Jedeh license

• Continued soil sampling programs on the River Gee license

• Completed stream sediment sampling on the Maryland license

• Completed the sale of the Plenty River project to FAR Resources Pty Ltd

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Some results from regional soil sampling carried out during the previous quarter were received. These samples were collected on an 800m x 200m spaced grid and the results outlined an area of low order anomalism about 2km long in an area with numerous artisanal workings some 2 km south west of Government Camp. These samples had been analysed by fire assay for gold to a detection limit of 2 ppb. Further work is required to determine the significance of this area and subsequent to the end of the quarter a program of infill soil sampling at a spacing of 400m x 100m was completed.

RC drilling at Bukon Jedeh.

River Gee Mineral Exploration License

During the reporting period the company’s contractor collected 754 soil samples on 800m x 200m sampling grids at four areas that were highlighted by the earlier regional steam sediment sampling program. These samples were submitted for analysis late in the quarter and results are pending.

Results from the initial soil sampling program on the license that was completed during the March quarter are still pending.

Maryland Mineral Exploration License

During the quarter an additional 95 stream sediment samples were collected on the Maryland license to improve coverage of the license area and to increase the sample density in areas of interest that the earlier program had highlighted. The samples were sent to the SGS lab in Monrovia and were analysed by fire assay for gold to a detection limit of 2 ppb. The results of from these samples showed little anomalism.

In the next quarter soil sampling will commence on the Maryland license to follow-up areas of anomalism identified by the stream sediment sampling.

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Bukon Jedeh access road repair work.

Activities – Northern Territory

During the June quarter the Company completed its planned divestment of its Northern Territory projects.

Acacia – Frazer Project

The tenements that form the Acacia-Frazer project were officially transferred to TUC Resources Ltd during the June quarter.

Plenty River Project

During the quarter the sale of the Plenty River project to FAR Resources Pty Ltd was completed. The transfer of the licenses is expected to be completed in the next quarter.

Corporate

Subsequent to the end of the quarter Equator completed the issue of shares in the Company to Ore Search Drilling and its nominees for drilling and related works under the terms of the agreement ratified at the General Meeting of shareholders on Wednesday 11th April 2012. FOR FURTHER INFORMATION CONTACT:

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Lyndon Hopkins – Chief Executive Officer Mobile – Aus +61 (0) 417 951 601 Mobile – Lib +231 (0) 880 958 439 Email - lhopkins@equatorresources.com.au

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Competent Persons Statement

The information in this report that relates to exploration results or mineral resources is based on information compiled by Mr Lyndon Hopkins, the CEO, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Hopkins has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being reported on to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves. Mr Hopkins consents to the inclusion in the report of the matters in the form and context in which it appears.

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