Meridian Capital International Fund Enters Into Agreement to Subscribe for Shares of Sterling Resources Ltd.

GEORGE TOWN, CAYMAN ISLANDS--(Marketwire - March 4, 2013) - Meridian Capital International Fund ("Meridian") of Ugland House (PO Box 309), Grand Cayman, KY1-1104, Cayman Islands, today announced that it has entered into a subscription agreement whereby it subscribed for up to 28,621,567 common shares (the "Meridian Subscription Shares") in the capital of Sterling Resources Ltd ("Sterling") at a price of C$0.75 per share for up to an aggregate subscription price of C$21,466,175.25. Concurrently, YF Finance Limited ("YF Finance") of PO Box 3175, Road Town, Tortola, British Virgin Islands, an entity acting jointly and in concert with Meridian, entered into a subscription agreement whereby it subscribed for up to 24,711,767 common shares (together with the Meridian Subscription Shares, the "Subscribed Shares") in the capital of Sterling at a price of C$0.75 per share for an aggregate subscription price of C$18,533,825.25 (together with the Meridian subscription, the "Subscriptions"). The Subscribed Shares will be issued on a private placement basis.

The Subscriptions are comprised of two tranches. On March 4, 2013, Meridian and YF Finance completed the subscription for, respectively, 26,954,900 and 23,045,100 common shares. Following such subscription, Meridian and YF Finance each own 27,436,600 Sterling common shares, representing approximately 9.97% of Sterling's outstanding common shares.

It is expected that on or prior to March 11, 2013, subject to the completion of a prospectus offering of common shares being undertaken concurrently by Sterling, Meridian and YF Finance will each complete the subscription for an additional 1,666,667 common shares. Following such subscription, Meridian and YF Finance will each own 29,103,267 Sterling common shares, representing approximately 9.75% of Sterling's then outstanding common shares.

Meridian and YF Finance acquired the Subscribed Shares for investment purposes, and may acquire ownership of, or control over, additional common shares of Sterling in the future.

For further information and to obtain a copy of the early warning report to be filed under applicable Canadian securities laws in connection with the transaction hereunder, please see Sterling's profile on SEDAR at www.sedar.com.