Telferscot Resources Declares Intent to Explore for Copper in the DRC

TORONTO, Ontario, June 13, 2011 – Telferscot Resources Inc. (CNSX:TFS) (“Telferscot” or the “Company”) is pleased to announce the signing of a binding Letter of Intent to acquire up to 100% of an exploration property (the “Property”) located in the Kolwezi district in the Democratic Republic of Congo (“DRC”).

The subject property has been identified as prospective for copper and cobalt based on its location and the known local and regional mineralogy – specifically the regional presence of high-grade copper and cobalt mineralization. There is little historic data for the property and no current resource.

“Telferscot is pleased to have the opportunity to get involved in an exciting copper and cobalt exploration program in one of the world’s great copper mineralized districts,” commented Mr. James Garcelon, the Company’s CEO. “We are looking forward to completing this transaction and moving this project further along the exploration curve.”

Telferscot will acquire all of the issued and outstanding securities of 1830953 Ontario Inc. (the “Target”) in consideration for the issuance of 4,674,200 common shares of the Company and warrants to acquire 375,000 common shares. Telferscot will loan the Target $150,000 to fund exploration work immediately through the closing period.

Telferscot, through the Target, will have the right to earn a 30% stake in the Property through expenditure of $1-million and a further right to increase its stake to 60% through the expenditure of a further $4-million. The Target is approximately halfway through the initial earn-in having spent nearly $500,000 to date. Telferscot, through the Target, will have the right to acquire the balance 40% of the Property following total expenditure on the Property of $5-million. Similarly, the vendors of the Property can force the acquisition of the balance 40% by Telferscot, through the Target, following completion of the $5-million earn-in.

The Company currently has $1.2-million of cash on deposit and initial financial commitment resulting from this acquisition will be approximately $500,000. This transaction will be subject to completion of legal and technical due diligence and any regulatory and exchange approvals. The Company anticipates closing a transaction by mid-summer 2011.