Curis reaches agreement on $40 million loan facility and copper off-take with Red Kite

VANCOUVER, April 5, 2012 /CNW/ - Curis Resources Ltd.

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 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 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 and CEO 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 Curis

Curis Resources Ltd. is a mineral development company associated with Hunter Dickinson Inc., 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 jurisdictions around 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.

For more project-level information, sign up to receive News and Updates from the Florence Copper project.

For further details on the Company, please visit www.curisresources.com or contact Susie Bell, Manager of Investor Relations, at (604) 684-6365 or within North America at 1-800-667-2114.

About RK Mine Finance

RK Mine Finance provides mining companies with project financing and metal off-take agreements for initiation or expansion of mine production and is part of the Red Kite group.  Red Kite operates across the global metals industry from offices in Bermuda, Denver, Hong Kong, London, New York, Shanghai and Sydney.  Investors in Red Kite funds include college endowments, foundations, family offices, pensions and other institutional investors. Contact Oskar Lewnowski at +1 212-596-3481

Michael McPhie

President & CEO

No regulatory authority has approved or disapproved of the information contained in this news release.

This release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. 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 or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include inability of the Company and Red Kite to reach agreement on definitive agreements (or to achieve fulfillment of conditions thereunder), fluctuations in market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary environmental, land use and other permits, approvals, licenses and title on a timely basis and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.   For more information on the Company, a more detailed description of the assumptions used to develop the forward-looking statements and the risk factors that may cause actual results to differ materially from forward-looking statements, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

Curis Resources Ltd.

CONTACT: Susie Bell

Manager, Investor Relations

Tel: 604-684-6365

Email: Susiebell@hdimining.com