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Murchison Region Exploration Update

MURCHISON REGION EXPLORATION UPDATE Highgrade gold mineralisation confirmed at Side Well 3m 35.5g/t, including 1m 104g/t 5m 6.69 g/t 3m 6.94 g/t Significant gold results from first aircore drilling campaign at Abbotts include 1m 27.2g/t and 20m 1.04g/t Doray Minerals Ltd ( DRM, Doray) today announced positive exploration updates from its Side Well and Abbotts properties in the northern Murchison region of Western Australia (Figure 1.). Side Well Doray recently completed a drilling campaign at the Side Well property (Doray 80%). The aim was to test a number of targets in two areas beneath shallow, geochemicallyblind, transported cover, up to 10m thick (Figure 2). At the Matilda prospect, Doray intercepted narrow highgrade gold (MNAC0463, 3m 35.5g/t from 76m, incl 1m 104g/t) in a single traverse across a structural target defined by the regional aeromagnetic data. Further drilling to evaluate this target is expected to commence in November.

The mineralisation is located along strike from the historic Meekatharra gold camp. At the main Side Well prospect, aircore drilling confirmed elevated gold results reported by previous explorers. In addition, Doray successfully defined two subparallel zones of elevated gold (/ copper and zinc) mineralisation over a strike length of approximately 3km. These mineralised trends are complicated by a deep weathering profile, including an interpreted zone of metal depletion down to a vertical depth of about 40m. Significant results include 2m 6.90 g/t from 62m in MNAC0391 11m 1.31 g/t from 125m in MNAC0421 5m 6.69 g/t from 110m in MNAC0454 3m 6.94 g/t from 88m in MNAC0471 Doray plans to undertake an initial program of deep RC drilling during the upcoming quarter in order to better evaluate the potential of these mineralised trends in the fresh bedrock material beneath the weathering and depletion zones. Abbotts The current programme of aircore drilling at Abbotts (Doray 80%) will test a number of targets along the 30km of strike of the Abernethy Shear Zone, which hosts a number of historic gold workings and prospects along with several coherent lag gold anomalies. Initially, the drilling program was focused on testing the Abernethy shear zone immediately to the south of the previously identified Abernethy South Prospect (Figure 3).

This drilling was designed to test potential extensions to high grade gold intercepted by previous explorers (10m 41.83g/t including 2m 195g/t). Aircore drilling by Doray on a traverse 40m south of this historic hole intercepted 1m 27.20g/t from 62m in ABAC0041, giving a 100m long, NEtrending zone of high grade gold mineralisation for further testing. The remainder of the Doray aircore program focused on potential shear zonehosted mineralisation north of Abernethy South, infilling the area between Abernethy South and the Airstrip prospects. This drilling outlined an 800m long trend of gold mineralisation related to the Abernethy Shear with a wide zone of gold mineralisation (20m 1.04g/t from 54m) intercepted in ABAC0076. Follow up RC drilling is scheduled for the March 2012 quarter with further air core drilling on remaining targets early in 2012. ENDS For further information, please contact Allan Kelly Anna Staples Managing Director Director Doray Minerals Limited AMN Corporate 61 (08) 9226 0600 61 (0)4 00 205 433 About Doray Minerals Minerals explorer Doray Minerals Limited ( DRM) listed on the ASX in February 2010 and was one of Australias best performing IPOs in 2010 based on results from the Andy Well gold project in Western Australia. Doray has a strategic portfolio of gold properties within WA and South Australia, and each presents Doray with multiple discovery opportunities. Competent Person Statement The information in this announcement that relates to Exploration Results is based on information compiled by Heath Hellewell and Allan Kelly. Mr. Hellewell and Mr.

Kelly are both members of the Australian Institute of Geoscientists, and have sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking. This qualifies Mr. Hellewell and Mr.

Kelly as Competent Persons as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Hellewell and Mr. Kelly consent to the inclusion of information in this announcement in the form and context in which it appears..