Salmon River Extends Payment Terms for Treppo Grande and Continues Steps to Advance Transaction

Salmon River Resources Ltd. (TSX VENTURE:SAL) (together with its subsidiaries
individually and jointly referred to as "Salmon River" or the "Company") is
pleased to announce that it has further extended the previously announced
payment terms on its agreement to acquire a 100% interest in the shares of
Treppo Grande Iron Pty Ltd. (the "Acquisition"), a private Australian company
which holds five granted tenements in the Yilgarn Craton of southwestern
Australia, including the highly prospective Treppo Grande iron ore prospects.
Under the terms of the extension agreement for the Acquisition (the "Extension
Agreement"), the Vendor has agreed to extend the date for the next payment of
A$4,000,000 to no later than 3 September 2012.


A copy of the Extension Agreement will be posted on Sedar.

As noted previously, during the last several months, Salmon River has also been
involved in extensive negotiations with a number of strategic and financial
investors regarding funding for payments under the terms of the Acquisition
Agreement and for the furthering of the Treppo Grande Project. The Company
continues in discussions with these potential investors regarding financing to
fund the payments to the Vendor and the exploration program and working capital
requirements. 


The Company remains confident of the ultimate success of these discussions,
especially given the potential of the Treppo Grande Iron Project. Any financing
proposals will be subject to approval by the TSX Venture Exchange and may
require shareholder approvals. There can be no assurance that these discussions
will be successfully completed or required approvals obtained.


ABOUT SALMON RIVER RESOURCES LTD.

Salmon River Resources Limited (TSX VENTURE:SAL) is a mineral exploration
company engaged in the exploration for and development of commercial deposits of
iron ore in Western Australia. It exercised its option to acquire five tenements
in the Yilgarn region of Western Australia including the Treppo Grande iron ore
project, approximately 210 km northwest of Kalgoorlie, comprising three
tenements covering approximately 396.7 km2. Completion of the acquisition of the
tenements is subject to certain conditions, including payment of approximately
A$100 million to the vendor. For further information see our website at
www.salmonriver.com.au.


Forward-Looking Statements:

This press release contains forward-looking statements that are based on the
beliefs of management and reflect Salmon River's current expectations. This
press release relates to the extension of terms for the Treppo Grande Iron
acquisition, further exploration and future financing requirements. The
forward-looking statements are based on certain assumptions, which could change
materially in the future, including the assumption that the current negotiations
will lead to definitive agreements, that the transactions and financings
contemplated herein will be completed, that Salmon River will be able to
complete on its exercise of the Treppo Grande option and that the Treppo Grande
property will ever be developed. By their nature, forward-looking information
involves known and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by the
forward-looking information. Such factors include the risk that the definitive
agreements contemplated may not be completed, that Salmon River may not complete
the financings in the amounts contemplated and that the Company may not complete
on its exercise of the Treppo Grande acquisition. There can be no assurance that
forward-looking information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, investors should not place undue reliance on forward-looking
information. Forward-looking information is provided as of the date of this
press release, and the Company assumes no obligation to update or revise them to
reflect new events or circumstances, except as required in accordance with
applicable laws.


Statements in this release that are forward-looking statements are subject to
various risks and uncertainties concerning the specific factors disclosed under
the heading "Risk Factors" and elsewhere in the Company's periodic filings with
Canadian securities regulatory authorities. Such information contained herein
represents management's best judgment as of the date hereof based on information
currently available. The Company does not assume the obligation to update any
forward-looking statement.

Salmon River Resources Ltd. (TSXV:SAL)
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