ADVERITAS LIMITED — Capital/Financing Update 2012

Dec 13, 2012

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PRE-QUOTATION DISCLOSURE

As requested in the letter from ASX setting out the conditions for Fortunis Resources Limited ( Company ) being admitted to the Official list of the ASX, we confirm that:

• a total of 6,300,000 fully paid ordinary shares in the capital of the Company ( Shares ) will not be quoted and be classified as restricted securities as follows:

  • 2,610,000 until the date which is 24 months from the date of official quotation of the securities of the Company; and

  • 3,690,000 until 5 October 2013.

• a total of 7,000,000 options to acquire Shares exercisable at $0.20 each on or before 31 December 2016 will not be quoted and be classified as restricted securities as follows:

  • 3,200,000 until the date which is 24 months from the date of official quotation of the securities of the Company; and

  • 3,800,000 until 5 October 2013.

• the Company raised a total of $2,808,200 under the Company’s initial public offer and an updated statement as to the use of funds is as follows:

	Use of Funds ($)	Percentage of Funds (%)
Funds available
Existing cash reserves	140,000	4.7%
Funds raised from the Offer	2,808,200	95.3%
Total	2,948,200	100.0%
Allocation of funds
Expenses of the Offer	226,828	7.7%
Exploration Expenditure	1,641,372	55.7%
Administration costs	400,000	13.6%
Project Generation	250,000	8.5%
Working capital	430,000	14.6%
Total	2,948,200	100%

• the impact of pastoral lease 3114/1187 on the Company’s Exploration Licence 57/838 (as set out in the Solicitor’s Report on Tenements) has not changed since the date of the Prospectus. The Company will keep the market informed of any developments.

Yours faithfully

Darren Wates DIRECTOR

Fortunis Resources Ltd, 47 Outram Street, West Perth, WA 6005 TEL: +61 8 9321 2111 FAX: +61 8 9321 2050 ABN: 88 156 377 141 http://fortunisresources.com.au