Quebec City, QUEBEC – (November 13, 2012) – Clifton Star Resources Inc. (the “Company” or
“Clifton”) (TSXV:CFO; FSE:C3T) is pleased to announce it has closed with Industrial Alliance
Securities Inc. (the “Agent”) a private placement of flow-through shares (the “Private
Placement”).

The Company has issued 2,760,000 flow-through shares (each, a “Flow-Through Share”), at a
price of $1.25 per Flow-Through Share for gross proceeds of $3,450,000 including the Flow-
Through Shares issued pursuant to the Agent’s over-allotment option which was exercised in
full.

In connection with the Private Placement, the Company paid a cash commission to the Agent in
an amount equal to $203,250 and issued 138,000 compensation options entitling it to purchase
for a period of 18 months from the date of issuance and at a price of $1.25 per share, a number
of additional common shares of the Company equal to 5% of the total number of Flow-Through
Shares sold in the Private Placement.

All of the securities issued pursuant to the Private Placement are subject to a hold period of four
months and one day ending on March 14, 2013.

The Company intends to use the proceeds from the sale of the Flow-Through Shares to incur
exploration expenditures on the Duparquet Project, to upgrade and expand its resources.

For further information please contact:

Louis Dufour
Vice President Finance & CFO
418-914-9922
jblackburn@cfo-star.com

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