ADX ENERGY LTD — Capital/Financing Update 2007

Aug 27, 2007

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28 August 2007

Company Announcements Office Australian Stock Exchange Limited 20 Bond Street Sydney NSW 2000

By e-lodgement

View Secures Joint Venture Over Highly Prospective Bronzewing South District

View Resources Limited (“ View ”) has entered into a joint venture agreement with Audax Resources Limited to farm-in to the Karra tenements at Bronzewing South (figure 1). Under the terms of the agreement View can earn a 51% interest in the tenements by spending $1.5M over four years and a further 19% by spending an additional $1M.

Exploration work on the joint venture tenements will commence immediately with a detailed data review. The Joint Venture is another important step in the Company’s regional consolidation program and will feature significantly in View’s on-going commitment to spend $4M per annum on exploration.

The farm-in provides View:

• the opportunity to explore both greenfields and a number of existing highly prospective gold targets which have already been generated by Audax’s extensive data base, View’s in-house knowledge, and SRK Consulting’s recent regional structural review.

• further increase in critical mass contributing an additional 170km[2] to View’s current 1,000km[2] extensive landholding on the Yandal Greenstone Belt.

• significant opportunity for major discoveries to increase mine life and add to Bronzewing’s 805,000 ounces of gold resources. The mine is currently ramping up production, which is forecasting an average 120,000 ounces per annum over the initial 4½ year mine life.

Managing Director, Tim Gooch said of the farm-in:

“View has long maintained that the Yandal region is highly prospective, and with a first class processing facility and infrastructure in place and operating, the Company is ideally positioned to add value to the project through further consolidation of key assets within the area, together with a well balanced exploration program. The Bronzewing South tenements have long been regarded as some of the prize prospects within the region and we are very pleased to now add these to our exploration portfolio.”

Location of the joint venture tenements relative to View’s existing tenement holding is shown on the attached figure. The tenements and key points of the Joint Venture are also attached below.

Telephone: (08) 9226 4611 Level 12, London House Postal Address Facsimile: (08) 9226 4655 216 St Georges Tce, Perth WA 6000 Po Box 7656 ABN 95 009 162 949 Cloisters Square WA 6850

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Figure 1: Bronzewing Tenure showing Audax Joint Venture Tenements

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----- Start of picture text ----- Tenements covered under the Joint Venture :----- End of picture text -----

A list of the Bronzewing South-Karra joint venture tenements follows:

• Exploration Licences: E36/215, ELA36/623, E36/509,

• Prospecting Licences: P36/1505-1508 inclusive.

Telephone: (08) 9226 4611 Level 12, London House Postal Address Facsimile: (08) 9226 4655 216 St Georges Tce, Perth WA 6000 Po Box 7656 ABN 95 009 162 949 Cloisters Square WA 6850

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Key Terms of the Bronzewing South-Karra Joint Venture are as follows :

• View will spend $1.5Million within four years to earn a 51% interest from the commencement date on the tenements.

• Commencement date to be 1 September 2007.

• View must spend the full $1.5M to earn any interest. Subject to meeting the minimum expenditure on each tenement, View may spend the $1.5M as it sees fit across the tenements.

• View to earn a further 19% for a total interest of 70% by spending an additional $1M on exploration and feasibility studies, in its own time.

• View may not withdraw from the Joint Venture until spending a minimum of $200,000. Prior to earning a 51% interest, View may excise tenements or parts of tenements from the Joint Venture, but continue to acquire a Joint Venture interest in the other tenements or parts of tenements.

For further information contact:

Tim Gooch Managing Director (08) 9226 4611 www.viewresources.com.au

Willie Rowe Gryphon Management Australia 0417 931 254 www.gryphon.net.au

Yours faithfully

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Tim Gooch Managing Director

Telephone: (08) 9226 4611 Facsimile: (08) 9226 4655

Level 12, London House Postal Address 216 St Georges Tce, Perth WA 6000 Po Box 7656 ABN 95 009 162 949 Cloisters Square WA 6850

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