ADMIRALTY RESOURCES NL. — Capital/Financing Update 2007

Aug 6, 2007

ASX Company Announcement

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Admiralty Resources NL ACN 010 195 972

Level 14, 200 Queen Street Melbourne VIC 3000

[t] +61-3-96701838 [f] +61-3-9670 1898 [w] www.ady.com.au

7 August 2007 Company Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000

ADMIRALTY COMPLETES 60% OWNERSHIP OF CIA MINERA SANTA BARBARA FOR USD15M

The Board of Directors of Admiralty Resources is delighted to announce that it has finalised negotiations and completed the necessary documents with its current 50% shareholder Wyndham Explorations SA to acquire a further 10% of Cia Minera Santa Barbara, the owner of the Santa Barbara iron ore project in Region Three in Northern Chile.

The transaction requires three cash payments to be made, of which the first has been made. The 10 million Admiralty Resources shares will be issued shortly, under the ASX 15% rule.

Phillip Thomas has been appointed Chairman of Cia Minera Santa Barbara and another Admiralty Resources director will be appointed on completion of the payment schedule.

Yours sincerely,

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Phillip Thomas Managing Director [e] pthomas@ady.com.au

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