ALCIDION GROUP LIMITED — Capital/Financing Update 2012

Oct 1, 2012

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2 October 2012

Australian Securities Exchange

Level 8 Exchange Plaza

2 The Esplanade PERTH WA 6000

Completion of Rights Issue

Naracoota Resources Limited (“NRR” or the “Company”) advises that its fully underwritten pro-rata non-renounceable rights issue (“Rights Issue”) closed on the 27[th] of September 2012 with eligible shareholders subscribing for 14,729,152 ordinary shares at a price of 3.5 cents per share. The Company has notified the Underwriter of the shortfall amount of 32,807,524 shares to be placed on the same terms.

Under the rights issue the company is issuing up to 47,536,676 fully paid ordinary shares and 47,536,676 options to raise $1,663,783 before costs. The issue of these shares and options is anticipated to take place on the 5[th] of October 2012.

Yours Sincerely,

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Josh Puckridge

Company Secretary