Broken Hill Update

INLET RESOURCES LTD. Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

For Immediate Release January 24, 2012
Trading Symbol: INL - TSX Venture

NEWS RELEASE

EXPLORATION UPDATE, BROKEN HILL ZINC PROPERTY

Vancouver, British Columbia - Inlet Resources Ltd. ("Inlet") is pleased to announce the results of the recently completed $100,000 exploration program on the 3325 hectare Broken-Hill-Leo property, located approximately 150 kilometers north-north east of Kamloops, British Columbia. The property covers a nine kilometer strike extent of carbonate stratigraphy that hosts numerous high grade zinc-lead-silver massive sulphide showings and occurrences. The 2011 program included gravity surveys completed by Discovery Geophysics International Ltd. and a small one hole drilling program completed by Target Drilling Ltd. The gravity surveys were completed over untested portions of the Vista and Mike areas in an effort to test for detectable zones of dense zinc- lead rich massive sulphide mineralization that is difficult to explore for using other geophysical technologies. The Vista occurrence hosts a 12 metre long outcrop grading from 15.9 to 24% zinc, up to 4.9% lead and up to 72 g/t silver over 0.2 to 0.35 metre widths. Drill intersections reported

2.52% zinc over an estimated true width of 2.3 m with numerous narrower higher grade intersections in other holes. The Mike showing situated five kilometres south of the Vista occurrence, hosts dozens of high grade zinc cobbles and boulders grading from 14 to 21% zinc that occur over a 250 metre by 50 metre area. Drill testing in 2008 failed to intersect mineralization.
The results of the gravity survey from the Vista area did not produce targets considered drillable. The results of Mike area survey outlined a 150 metre portion of a stronger open ended gravity target considered worthy of drill testing.
A short 53.6 metres (176 ft) drill hole (BHM11-01) was collared into the strongest part of the gravity anomaly 500 metres west of the MIKE float showing. Three closely spaced, narrow high grade zinc sulphide zones were intersected within a less well mineralized quartz-carbonate unit. Core angles were high, indicating the drilled width was close to true widths. The zinc, lead and silver results are tabulated below.

From	To	Width	Zinc %	Lead %	Silver ppm
38.65	40.85	2.20	1.68	0.22	2.80
including
38.65	38.85	0.20	8.07	.007	1.60
39.80	40.05	0.25	5.98	1.21	16.00
40.45	40.55	0.10	5.20	1.24	12.20

2

This is the first bedrock intersection of zinc-lead-silver massive sulphide mineralization in the Mike area. A sample of a deeper massive iron sulphide intersection returned weakly anomalous copper values. The hole was stopped in favourable rocks and the casing was left in the hole.
QAQC procedures included transportation of the core, sampling procedures and sample transportation by individuals independent to Inlet. Core logging and sampling procedures followed approved best practices guidelines including the insertion of field standards and blanks into the sample stream.
Inlet is the registered owner of a fifty percent interest in the property. The same stratigraphy hosts the nearby multi million tonne Ruddock Creek deposits 25 kilometres east that is currently being developed by Imperial Metals Ltd.
Leopold J. Lindinger, P.Geo., a qualified person as defined by National Instrument 43-101 has prepared and verified the technical data in this news release by reviewing and approving the information received from the analytical laboratory and the drill core.

ON BEHALF OF THE BOARD

(sgd.) "David Baker", President

For further information, please call:
[phone] or visit our website at www.inlet-resources.com.

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