ALTAMIN LIMITED — Capital/Financing Update 2012

May 30, 2012

31 May 2012

ASX Announcement

ASX Code EMX

Energia Minerals to Drill Two High Priority IOCG Copper-Gold-Uranium Targets in the Gawler Craton

ABN 63 078 510988

PO Box 1785 West Perth WA 6872

Level 2, 20 Kings Park Road West Perth WA 6005

Energia Minerals Ltd (ASX: EMX) is pleased to announce that it will commence diamond drilling to test two high-quality geophysical copper-gold-uranium targets in the Gawler Craton in South Australia in early July 2012 with funding support from the South Australian Government.

T: + 61 8 9321 5000 F: + 61 8 9321 7177 E: info@energiaminerals.com W: www.energiaminerals.com

The targets, located within Energia’s 100%-owned Blyth Creek (EL 3680) and West Lake Eyre (EL 3958) tenements, are prospective for copper-gold-uranium mineralisation of similar style to the world-class Olympic Dam and Prominent Hill ore bodies, which lie to the south of the project areas ( Figure 1 ).

The Blyth Creek drill hole is targeting a coincident positive gravity anomaly and demagnetised zone (BC4) extending over an area of 5.0km by 0.5km and located beneath 225335m of cover rocks, with the drilling cost being jointly funded by the South Australian Government as part of its 2012 PACE Discovery Drilling collaboration.

Board of Directors Tony Iannello Non Executive Chairman Kim Robinson Managing Director Leigh Bettenay Executive Director – Exploration and Development Max Cozijn Non Executive Director Ian Walker Non Executive Director

PACE embodies a supportive partnership with industry to undertake drilling in areas determined by the South Australian Department for Manufacturing, Innovation, Trade, Resources and Energy (DMITRE) to have economic mineral potential, but which are hampered by cover rocks or other factors that discourage investment in exploration.

Company Secretary Jamie Armes CFO and Company Secretary

PACE preferentially funds high quality, technically and economically sound projects that promote greenfields exploration targets.

The West Lake Eyre drill hole is targeting a strong gravity anomaly (LE4) extending over an area of 2.0km by 3.5km and located beneath an estimated 400-450m of cover rocks.

The drilling program will be carried out by Thompson Drilling of Mt Gambier, one of the most experienced contractors in South Australia. Down-hole geophysics and geochemical analysis of the diamond core will be carried out on both drill holes once drilling is completed.

Information generated from this drilling program will enable Energia to make a decision on expanding the detailed gravity coverage to include identified structural targets within ELA 2011/00247, EL 3650 and EL 3957 which cover a large, previously untested area of the Gawler Craton.

Energia’s Hidden Swamp tenement, EL 3683, which is located 35km to the north-west of

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Olympic Dam and adjoins tenements recently acquired by BHP Billiton for A$10 million, lies within the Woomera Core Area of Operation. Exploration within this area requires a Deed of Access to be entered into with the Australian Government but, because of its proximity to Olympic Dam and Prominent Hill, Hidden Swamp represents an attractive target for large scale IOCG deposits.

Shareholders will be kept informed as drilling proceeds.

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Kim Robinson For media enquiries contact: Managing Director Nicholas Read +61 8 9321 5000 Read Corporate info@energiaminerals.com +61 8 9388 1474 info@readcorporate.com.au

Competent Person Statement:

Information in this release that relates to Exploration Results is based on information prepared by Dr Leigh Bettenay who is a Fellow of the Australian Institute of Geoscientists and an employee of Energia Minerals Limited. Dr Bettenay has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Bettenay consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

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Figure 1 – Energia Gawler Craton tenements showing proposed drill targets on magnetic image

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