SIRIUS EXPLORATION PLC

(“Sirius Exploration” or “The Company”)

CORPORATE UPDATE

*        New Agreement reached with CIC Mining Resources Limited (“CIC”) a leading China based royalty company listed on Canadian stock exchange to replace the original agreement announced in June;

*        Sirius takes 3% NPI royalty for Bobai Bishop Tungsten Mine China;

*        Future joint project cooperation between Sirius and CIC

On 30 September 2008 Sirius Exploration announced that the option to acquire an initial 10% equity stake in the Bobai Bishop Tungsten operation in China had lapsed but that discussions were continuing with the partners in China and that the Company was confident of a successful outcome to these discussions.

Following detailed discussions, Sirius Exploration is pleased announce that it has reached a new agreement with CIC whereby:

*        Sirius will have a 3% NPI (Net Profits Interest) in the Bobai Bishop Tungsten mining operation in exchange for 6,000,000 Ordinary Shares of 0.25p each in Sirius Exploration. 1,200,000 of these shares have already been issued as part of the original option agreement. A NPI is a royalty calculated as a percentage of the gross cash income from a mine-mill complex less all expenses incurred to produce the income.  The holder is not liable for any share of capital, operating and environmental costs.

*        CIC’s Chinese shareholders will be offered the opportunity to provide capital and invest in the development of new acquisitions by Sirius Exploration; and

*        Sirius Exploration and CIC will make available to each other their in-house resources and expertise to the mutual benefit of each party. This should minimise operational expenditure and reduce development costs in any new mining project in which either party is involved.

*        At the mid-market price at the close of business on 10 November 2008 of 1.625p, the aggregate consideration is £97,500. Application will made for the additional 4,800,000 new Ordinary Shares of 0.25p, which when issued will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM.

Background

It was concluded that through the past months during the due diligence studies that the Sirius Exploration and CIC relationship had become very strong. Further that Sirius Exploration had other projects that would be of interest to CIC and its Chinese partners. It was decided that Sirius Exploration should continue its broader expansion into world markets, of which China would be one.

Future revenues under the 3% NPI will depend on the build up to production, the price of tungsten and any exchange rate movements.

This agreement will provide Sirius Exploration’s shareholders with an investment in one of the fastest growing economies in the world that is underpinned by a holding in a strategic natural resource.  It will also provide an ongoing path to utilise the resources of the Chinese mine owners in the development of Sirius Exploration’s future projects.

Richard Poulden, the Chairman, commented:

“This is an ideal outcome to our discussions which not only provides a potential revenue stream but also provides a source of new funding as we continue our expansion into new territories.”

On Behalf of the Board of Directors

SIRIUS EXPLORATION LIMITED.

Richard Poulden

Chairman

Enquiries welcomed, for further information please contact the Company:

Website: www.siriusexploration.com   Sirius Exploration Share Price

Background note

Sirius Exploration

Sirius Exploration PLC (AIM: SXX) is quoted on the Alternative Investment Market of the London Stock Exchange Ltd in London.  The Company acquires and explores mineral properties and is currently exploring for copper and gold on its porphyry copper mineral properties located in Macedonia.

The Company has an agreement with Phelps Dodge (now a subsidiary of Freeport McMoRan Copper & Gold Inc) and has completed a drilling program at their exploration sites in Macedonia. It also has an agreement with Rio Tinto to utilise their Macedonian database to identify further exploration opportunities.