Tasex Capital Provides Corporate Update

Vancouver, British Columbia, January 12, 2012

Tasex Capital Limited (“Tasex”) (TSXV – TAX.P), a capital pool company, is pleased to provide an update on the status of its proposed acquisition of Burke Resources Limited (“Burke”).

As previously announced on September 20, 2011 and November 3, 2011, Tasex and Burke have signed an amalgamation agreement whereby Tasex will combine its assets with Burke through the acquisition by Tasex of all of the issued and outstanding common shares of Burke (the “Proposed Transaction”). The Proposed Transaction, when completed, will serve as Tasex’ qualifying transaction pursuant to Policy 2.4 of TSX Venture Exchange Corporate Finance Manual. Shareholders of Burke have approved the Proposed Transaction. The Proposed Transaction was negotiated by the parties at arm’s length with each other and therefore in accordance with the policies of the TSX Venture Exchange (the “Exchange”) Tasex is not required to obtain shareholder approval.

Tasex has filed a NI 43-101 Technical Report for the Kringelgruvan Graphite Project (formerly, Woxna Graphite Project), Sweden, (the “Technical Report”), prepared by Coffey Mining Pty Ltd on behalf of Tasex with the Exchange and the Exchange has advised Tasex that the Technical Report is compliant. The Technical Report is available on SEDAR at www.sedar.com. Tasex has also filed a preliminary filing statement with the Exchange which is currently under review.

As previously announced Tasex is raising $5,200,000 gross proceeds through the issue of 10,400,000 units ( the “Units”) with each unit comprising one common share and one full warrant. Each warrant is exercisable at a price of $0.75 per share for a term of two years from closing of the financing. Tasex is also pleased to provide an update in regards to this financing. Tasex has received all subscription agreements and funds are in place and closing is pending Exchange approval to the Proposed Transaction. Tasex has amended the finder’s fee payable under this financing such that on the sale of 7,775,000 units Tasex will pay 9% cash and 9% compensation warrants. Each compensation warrant will entitle the holder to acquire one unit at the same issue price and with the same terms as the financing. The compensation warrants have a term of two years.

Tasex will use the proceeds from the financing to complete the Proposed Transaction and thereafter for resource drilling, rehabilitation of the plant and upgrade environmental discharge systems to modern practices with the aim to reopen the mine and for general corporate and working capital purposes.

ON BEHALF OF THE BOARD OF TASEX CAPITAL LIMITED,
David Henstridge
President & CEO

Forward Looking Statements. Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Proposed Transaction and the financing. Forwardlooking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forwardlooking statements will occur or, if they do occur, what benefits Tasex will obtain from them.

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

Completion of the Proposed Transaction is subject to the normal conditions to this type of transaction, including, but not limited to, Exchange acceptance and, if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

TASEX CAPITAL LIMITED CONTACT INFORMATION: David Henstridge, President & CEO, 604.685.9316