ADX ENERGY LTD — Capital/Financing Update 2008

Nov 30, 2008

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1 December 2008

ASX Ltd Exchange Plaza 2 The Esplanade Perth WA 6000

AuDAX RESOURCES LIMITED OPTION EXPIRY NOTICE ASX: ADXO – EXPIRING 31 DECEMBER 2008

AuDAX Resources Limited (“AuDAX”) advises that it has been granted a waiver from Listing Rule 6.24 to the extent necessary to permit the Company not to send the notices required by paragraph 6.1 of Appendix 6A in relation to 27,630,047 quoted options (ADXO). Accordingly, option expiry notices will not be sent to option holders.

In accordance with the ASX Listing Rules and the waiver granted, AuDAX is obliged to advise option holders of following information:

• The number of options to which this notice applies is 27,630,047.

• On exercise, each option entitles the holder to receive one fully paid ordinary share in AuDAX. If all options were exercised, 27,630,047 fully paid ordinary shares would be issued.

• The exercise price for each option is A$0.20.

• The due date for payment of the exercise price is 5pm (WST) on Wednesday 31 December 2008.

• If payment is not received by 5pm (WST) on 31 December 2008, the options will lapse and all rights under the options will cease.

• Official quotation of the options on ASX will cease on 22 December 2008.

• The market price of fully paid ordinary shares in AuDAX on 28 November 2008 (being the last trading day prior to the date of this notice) was A$0.036.

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• During the three months immediately preceding the date of this notice, the highest market price of fully paid ordinary shares in AuDAX was A$0.076 on 19 September 2008, and the lowest market price was A$0.032 on 25 November 2008.

• Exercise of the options is not underwritten.

Yours sincerely

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Peter Ironside Company Secretary

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