ACTIVEX LIMITED — Capital/Financing Update 2009

Nov 24, 2009

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ActivEX Limited. A.C.N. 113 452 896 117 Quay Street BRISBANE QLD 4000 P.O. Box 217 PADDINGTON QLD 4064 P: (07) 3236 4188 F: (07) 3236 4288 E: admin@activex.com.au

ASX Release – 25 November 2009

PENTLAND PROJECT FARMOUT TO EXPEDITE DRILLING

ActivEX (ASX:AIV) is pleased to announce that it has reached agreement with China Yunnan Copper Australia Limited (ASX:CYU) to form a joint venture to expedite the next phase of exploration at its Pentland Project in North Queensland. The joint venture will lead to early drilling of the Mt Remarkable and Norwood prospects in the first quarter of 2010.

Joint Venture

China Yunnan Copper Australia has agreed to farm in to the Pentland Project area. China Yunnan can earn up to a 70% interest in the project area by spending $3 million in the next 5 years in a two stage earn-in.. In the first stage, China Yunnan can earn up to 51% of the project by spending $1.25 million within three years including carrying out a drilling program at Mt Remarkable and Norwood prospects which must commence in the first quarter of 2010. If CYU elects to continue it can earn an additional 19% by spending a further $1.75 million within five years from commencement. CYU’s minimum commitment to the project is the first year’s expenditure commitments on the tenements including the drilling program.

In addition, if CYU elects to continue earning after the first year it will grant ActivEX one million unlisted options to acquire shares in CYU exerciseable at $0.40 before December 2012.

Pentland Project

ActivEX’s Pentland Project is located in the highly prospective North Queensland region, well known for high tonnage gold deposits and recent discoveries. It consists of three Exploration Permits 14332, 15055 and 15185 covering an aggregate 549 km[2] located 100 kilometres west of Charters Towers.

The principal prospects in the area are at Mt Remarkable and at Norwood and these will be the targets for early drilling. In addition, there are numerous prospects that have had little exploration activity in the past. These prospects will be developed during the proposed program to establish priorities for further drilling.

At Mt Remarkable , shallow drilling by previous explorers has encountered gold– copper– molybdenum mineralisation of porphyry style associated with an altered, demagnetised zone within a strongly mineralised, north-east trending gold bearing structure. Work by ActivEX has identified a strong Induced Polarisation (electrical geophysics) anomaly close to the previously identified mineralisation but at a deeper level. The closest drill hole, from previous explorers, to the anomaly (DDH1) has intersected 47 metres of 0.92g/t Au to 306m. The target anomaly for drilling is 800 metres long and 400 metres wide and is strengthening at depth. It is interpreted to be a

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substantial increase in sulphide content associated with increased vein density as the zone also shows increased resistivity. Other holes which intersect around the anomaly (DDH3 and RED004) have shown scattered intersections of encouraging gold–copper– molybdenum mineralised stockwork veins.

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At Norwood , gold workings occur at surface, which were historically worked by the Chinese. Shallow drilling by previous explorers looking for oxide gold, intersected scattered gold mineralisation with better intersections of 18 metres of 0.98g/t Au and 8 metres of 2.28g/t Au .

Work by ActivEX in the area has identified IP anomalies surrounding a magnetic intrusive diorite (porphyry) which has low grade gold associated.

The IP anomalies targeted by proposed drill holes at Norwood are structurally controlled and occur over at least 800 metres of strike length. The southern targets are shallow

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dipping and appear to be stratabound within the Permian Volcanics. These anomalies could reflect a volcanogenic massive sulphide zone or a high sulphidation epithermal replacement zone. The targets have broad similarities in age and style to the recent Mt Carlton epithermal discovery by Conquest Mining Limited.

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Mt Remarkable IP Section showing chargeability anomaly, previous drilling and proposed drilling

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Norwood IP Section showing chargeability anomalies, targets and proposed drilling

Background on ActivEX Limited

ActivEX Limited ( ASX: AIV ) is a mineral explorer based in Brisbane with substantial exploration tenement packages in Queensland and an advanced Potash project in Western Australia.

In Queensland the Company has a significant ground holding in the Cloncurry district searching for Iron Oxide Copper Gold deposits and in eastern Queensland where epithermal gold/porphyry copper-gold-molybdenum style deposits are targeted. The Company has an existing joint venture at Booubyjan with Minotaur Exploration in which Mitsubishi Corporation and Mitsubishi Materials Corporation have an option to earn equity by funding significant drilling programs.

In W.A., ActivEX has exercised an option to purchase the Lake Chandler Potash project defined by a granted mining lease. The Company is proceeding to investigate both the

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deposit and optimal methods of extraction of the potash minerals and is in the final stages of a scoping study of the project to be completed before year end.

Background on China Yunnan Copper Australia Limited

China Yunnan Copper Australia Limited ( ASX:CYU ) is an Australian company listed in 2007 to explore for and develop minerals in Australia and overseas. China Yunnan Copper Australia Limited has a strong relationship with its cornerstone investor, Yunnan Copper Industry (Group) Co Ltd (YCI). YCI in turn is held 49% by Chinalco.

Initially, the company is focused on exploring its tenements in Queensland for copper, gold and uranium but is actively evaluating other acquisition and joint venture opportunities to grow its business rapidly. CYU recently announced a Joint Venture agreement with Goldsearch Limited for its Mary Kathleen Project and also the Stanleys Hope Purchase Agreement in the Pentland district.

For further information contact:

Mr Doug Young, Managing Director

or

Mr Paul Crawford, Company Secretary

Tel: (07) 3236-4188 Fax:: (07) 3236-4288 Email: admin@activex.com.au Web: www.activex.com.au

The information in this report is based on information compiled by Mr D. I. Young, who is a Fellow of the Australian Institute of Geoscientists and a full time employee of ActivEX Limited. Mr Young has sufficient experience relevant to the styles of mineralisation and types of deposit under consideration and the activities which he is undertaking to qualify as a Competent Person as defined by the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves. Mr Young consents to the inclusion of his name in this report and to the issue of this report in the form and context in which it appears.

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