Taipan Resources Inc. Announces the Appointment of Maxwell Birley as Chief Executive Officer

VANCOUVER, BRITISH COLUMBIA–(Marketwire/AsiaNet Pakistan – July 31, 2012) – Taipan Resources Inc. (“Taipan” or the “Company”) (TSX VENTURE:TPN) is pleased to announce the appointment of Maxwell Birley as Chief Executive Officer effective immediately.

Maxwell Birley has over 30 years experience in the oil and gas industry including senior roles with Marathon Oil, Premier Oil, and Oil Search Limited and in-country operating experience in Equatorial Guinea, Pakistan, Yemen, and India. Mr. Birley has a geological geophysical degree and is an Explorationist by training. Throughout his career, Mr. Birley has been directly involved in the discovery of over 1.75 billion barrels of oil equivalent. He has also been responsible for negotiating numerous farm-out and farm-in agreements and acquisitions, and for managing and developing multi-billion dollar oil and gas assets in Africa.

Mr. Charles Watson commented, “We are very pleased to have Maxwell joining the Taipan team. Maxwell’s experience in Africa and the combination of his extensive exploration success and commercial acumen, will be invaluable in managing the exploration program and optimizing Taipan’s strategic options during the next phases of the company’s development.”

Mr. Stephen Jackson has accordingly stepped down as an officer of the Company but will remain as a Director.

About Taipan Resources Inc.

Taipan is an oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres in Block 1 and Block 2B onshore Kenya. Taipan currently holds a 20% working interest in Block 1 (7.8 million acres gross) which is operated by Afren Plc, and a 100% working interest in Block 2B (1.9 million acres). Taipan’s total net unrisked prospective resources on the Blocks are 528 million barrels of oil equivalent based upon the NI 51-101 report prepared by Sproule Associates Limited and Afren Plc management estimates. Taipan is traded on the TSX Venture Exchange under the symbol TPN.

The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

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

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