AGUIA RESOURCES LIMITED — Capital/Financing Update 2008

Sep 9, 2008

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10[th] �September�2008���

Shareholder�Update

The�Directors�of�Newport�Mining�Limited�(“Newport”�or�the�“Company”)�(ASX�Code:�NMN)� announce�the�following�update�for�its�shareholders.��

The�Board�announced�to�the�market�on�21[st] �May�2008�that�Newport�(for�and�on�behalf�of�a� company�to�be�incorporated�in�Australia�(“SPV”))�had�completed�due�diligence�and�lodged�a�bid�on� a�strategic�asset�located�in�the�Sichuan�Province�in�China.�(Refer�ASX�Announcement� Shareholder�Update�21[st] �May�2008.)�

On�12[th] �May�2008�media�news�reported�that�an�earthquake�had�occurred�close�to�the�city�of� Chengdu�within�the�Sichuan�Province�of�China.�Also�on�the�12[th] �May�2008,�some�two�hours�after� the�earthquake,�Newport�was�notified�that�its�bid�had�been�successful�and�that�a�formal�Sale�and� Purchase�Agreement�was�to�be�negotiated�and�executed�between�SPV�and�the�other�party.��

At�the�time�of�the�earthquake,�due�to�limited�access�and�communication�problems�Newport�was� unable�to�determine�the�status�of�damage�to�the�asset;�however�from�news�coverage�and�limited� information�from�contacts�within�China�it�was�believed�the�asset�was�in�close�proximity�to�the� epicentre.��

In�the�period�following�since�the�last�shareholder�update�Newport�has�assessed�that�the�plant�and� mine�including�all�access�roads,�have�suffered�extensive�damage�and�as�such�the�SPV�has�not� signed�the�Sale�and�Purchase�Agreement�and�will�not�be�proceeding�with�the�acquisition.�

The�Company�is�currently�not�aware�of�any�legal�or�financial�obligation�regarding�this�transaction.��

As�stated�in�the�Company’s�Prospectus,�the�Board�intended�to�retain�a�portion�of�funds�raised� through�the�IPO�(after�meeting�its�expenditure�obligations�under�the�Listing�Rules�and�the� Pathfinder�Project�joint�venture�agreement)�to�actively�pursue�other�investment�opportunities�in�the� resources�sector.��

The�Company�has�been�reviewing�numerous�opportunities�both�in�Australia�and�overseas�and�will� continue�to�do�so.��

Contact

Simon�Taylor� 0409�36�7460�

Newport�Mining�Limited� ACN�128�256�888� Level�10,�167�Macquarie�Street�Sydney�NSW�2000� GPO�Box�4261�Sydney�NSW�2001� Telephone�02�9232�1688�Facsimile�02�9232�1677�