Clemson Completes Change of Business & Option to Purchase Kalum Property

CLEMSON RESOURCES CORP.

Suite 918-1030 West Georgia Street Vancouver, British Columbia Canada V6E 2Y3 Tel. No. (604) 628-5621 ♦ Fax No. (604) 628-2650

Clemson Completes Change of Business & Option to Purchase Kalum Property

Vancouver, British Columbia – July 18, 2012 – Clemson Resources Corp. (TSX-V:CRZ) (the “Company”) is pleased to announce that it has completed its previously announced change of business and is now a Tier 2 Mining Issuer pursuant to the policies of the TSX Venture Exchange. Pursuant to the option agreement dated January 17, 2012, as amended, with Eagle Plains Resources Ltd. (“Eagle Plains”) (TSX-V:EPL), the Company has an option to acquire up to a 60% interest in and to the Kalum Property, which consists of certain mineral claim tenures located approximately 30 kilometres northwest of Terrace, British Columbia. In order to acquire the 60% interest in the Kalum Property, the Company must pay Eagle Plains an aggregate of $250,000 and issue to Eagle Plains an aggregate of 1,100,000 common shares of the Company, such payments to be made and common shares to be issued in stages over a period ending July 17, 2016. Further, the Company must incur aggregate expenditures of $3,000,000 on the Kalum Property in stages over a period ending on December 31, 2015. In accordance with the terms of the option agreement, the Company will initially pay to Eagle Plains $15,000 on or before July 24, 2012, and will issue to Eagle Plains 200,000 common shares on or before January 17, 2013.

The Company intends to commence the recommended exploration program on the Kalum Property as soon as possible once third party consultants and contractors can be hired to perform exploration work, with anticipated completion of the program by December 2012.

For introducing Eagle Plains to the Company, the Company will pay to an arm’s length party, over a four year period ending July 17, 2016, a finders’ fee comprised of $3,400 cash and issuance of an aggregate 30,909 common shares. In accordance with the terms of the finder’s fee agreement, the Company will initially pay to the finder $204 and will issue to the finder 5,619 common shares on or before January 17, 2013.

Details of the change of business are disclosed in the Company’s Filing Statement dated May 30, 2012, which has been electronically filed with regulators and is available for viewing with its other public disclosure documents at the SEDAR website (www.sedar.com).

The Company also announces that the MetroBridge Employee Trust, originally established in 2004 prior to MetroBridge becoming a public company, will be terminated. On termination an aggregate 66,370 common shares of the Company will be surrendered by the Trust to the Company for cancellation and return to treasury.

For further information please contact:

Martin Bajic, Chief Financial Officer Tel: (604) 628-5621 Fax: (604) 628-2650

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change, except as required by law.