Curis Resources Inc. has reached an agreement with RK Mine Finance Trust (Red Kite) on the key terms for a senior secured loan facility and copper cathode off-take agreement, which are subject to the execution of definitive agreements.

Under the terms of the loan, Red Kite will provide a US$40million loan with interest payable at LIBOR plus 8% maturing two years from date of closing.  The loan will be repayable without penalty at any time prior to maturity, with Curis Resources having a one-time option to extend the maturity date by one year under specified terms and conditions (the “Extension Option”).

The parties also contemplate that, subject to applicable laws, securities commission and stock exchange rules and regulations, Red Kite will have the right to convert the outstanding amount of the loan into shares of Curis Resources at any time prior to maturity.

Proceeds from the loan will be used to advance the development of the Phase 1 production test facility and related engineering, infrastructure and permitting related activities of the Florence Copper project located in Central Arizona, USA (the “Florence Copper Project”).

Under the terms of the off-take agreement to be signed, Curis will supply Red Kite with 25%, or if the Extension Option is exercised, 30% of the Florence Copper Project’s copper cathode production for the life of the project, once the project reaches commercial production.  The off-take agreement will be structured at market pricing.

Curis President Michael McPhie said “This term sheet is a major step forward for Curis and Florence Copper.  This strategic investment in the future of Florence Copper with Red Kite represents a key milestone towards delivering on our objective of financing this world-class next generation copper project with minimal dilution to shareholders.

“A significant percentage of the US$40million investment will be utilized for contractors and vendors in Pinal County and greater Arizona over the next 18 months, providing the opportunity for new jobs and further spurring Florence Copper’s impact on the local economy.”

About at Curis:

Curis Resources (Arizona) Inc. is a wholly-owned subsidiary of Curis Resources Ltd., a mineral development company associated with Hunter Dickinson Inc. (HDI), a diversified global mining company with a 25-year history of mineral development success.  Curis is focused on the acquisition, development and operation of high-quality next-generation copper properties in progressive jurisdictionsaround the world.  It is currently focused on advancing its 100%-owned Florence Copper project in Arizona USA to near-term production.

Feasibility level optimization and design studies for Florence Copper are progressing. Phase 1 development is scheduled to be constructed beginning in Q3 of 2012, following the receipt of amended operating permits currently under review by State and Federal agencies. This project “start-up” phase will consist of an initial 24-well copper extraction field constructed to simulate full scale operations and a state-of-the-art Solvent Extraction/Electrowinning (SX/EW) facility that will produce LME grade pure copper cathode.