ABX GROUP LIMITED — Capital/Financing Update 2009

Dec 22, 2009

AUSTRALIAN BAUXITE LIMITED

ASX:ABZ

Media Release

23 December 2009

Australian Bauxite Limited Debut

Australian Bauxite Limited (ASX: ABZ) will commence trading at 11:00 am tomorrow on the Australian Securities, following its over-subscribed $4 million initial public offering (IPO).

The IPO closed 3 weeks early on the back of significant investor support and was well oversubscribed with more than 600 applications received.

Australian Bauxite CEO, Ian Levy said;

“Australian Bauxite is off to a good start. We have already attracted strong investor support and strong interest from prospective customers for our bauxite products. However, one step at a time – our initial task is to confirm the priority bauxite targets then drill them as soon as practicable.

“ABx has a total of 70 million shares on issue, which at the offer price of 20 cents per share represents a market capitalisation of $14 million.

“The groundwork for our bauxite exploration was laid in the early 1950s through extensive government exploration on the east coast of Australia. Our geological team has over 70 years of combined experience and is led by Jacob Rebek, who cut his teeth at Rio Tinto and CRA for over 33 years.

“Inspirational data reinterpretation and three years of tried-and-true field reconnaissance of thousands of kilometres of ground led to the development of our original geological model.

“Our project area selection was based on three economic determinants – high quality bauxite product, large thickness of the bauxite layer, and good enviro-economic settings, located close to transport infrastructure, coal mines, industrial centres and ports on the east coast of Australia.

“ABx now has a portfolio of 17 tenements, in 3 commercial development areas, all prospective for bauxite; Australian Bauxite is well positioned to become a significant bauxite force.”

For further information please contact

Ian Levy Chief Executive Officer Australian Bauxite Limited

Telephone: +61 2 9251 7177 or 0407 189 122

AUSTRALIAN BAUXITE LIMITED

ACN 139 494 885

Level 2 Hudson House 131 Macquarie Street Sydney NSW 2000 P: +61 2 9251 7177 F: +61 2 9251 7500