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Press release from CNW Group

Vitol Announces Acquisition of Common Shares of Sterling

Monday, May 21, 2012

Vitol Announces Acquisition of Common Shares of Sterling08:18 EDT Monday, May 21, 2012ROTTERDAM, Netherlands, May 21, 2012 /CNW/ - Vitol Holding B.V. ("Vitol") today announced that its wholly-owned indirect subsidiary Vitol Energy (Bermuda) Ltd. acquired ownership of 300,000 common shares ("Common Shares") of Sterling Resources Ltd. (TSXV:SLG) ("Sterling"), representing approximately 0.13% of the issued and outstanding Common Shares.As a result of this transaction, Vitol controls 27,651,742 Common Shares, representing approximately 12.42% of the issued and outstanding Common Shares.The Common Shares were acquired through the facilities of the TSX Venture Exchange for the average purchase price of C$1.3293 per Common Share. The Common Shares were acquired for investment purposes and Vitol and/or one or more of its affiliates, depending on market and other conditions, may from time to time increase or decrease its holdings of Common Shares or other securities of Sterling.A copy of the early warning report being filed by Vitol with the applicable securities regulators will be available on SEDAR (www.sedar.com).For further information: or to obtain a copy of the early warning report filed under applicable securities laws, please contact: Mark Ware, telephone: +44(0)207973 4200