ALTECH BATTERIES LTD — Capital/Financing Update 2010

Mar 25, 2010

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Thursday, 25 March 2010

Dear Shareholder,

NON-RENOUNCEABLE ENTITLEMENT ISSUE

Australian Minerals and Mining Group Limited ( Company ) has announced to ASX Limited ( ASX ) a non-renounceable entitlement issue on the basis of one (1) Option for every two (2) Shares held by shareholders at 5.00pm on the record date of 7 April 2010 ( Offer ).

The entitlement issue will result in the issue of approximately 41,987,501 Options in the Company.

The Offer is not underwritten.

The Prospectus relating to this issue has been lodged with the Australian Securities and Investments Commission and ASX and is available on the ASX website at www.asx.com.au for inspection. The timetable and important dates of the issue are set out below:

EVENT	DATE
Shares quoted on an “ex” basis	30 March 2010
Record Date for determining entitlements under Rights Issue	7 April 2010
Despatch Prospectus / Opening Date	8 April 2010
Closing Date	22 April 2010
Options quoted on a deferred settlement basis	23 April 2010
ASX informed of under subscriptions	28 April 2010
Deferred settlement trading ends, holding statements	4 May 2010
despatched and normal trading commences

• These dates are indicative only. The Directors may extend the Closing Date by giving at least 6 Business Days notice to ASX prior to the Closing Date. As such, the date the Options are expected to commence trading on ASX may vary.

The purpose of the issue is to raise approximately $420,000 and the funds raised will be used to fund general working capital expenses of the Company and to meet estimated expense of the Offer.

3 Bay Rd, Claremont WA 6010, Phone (08) 9389 5557 Fax (08)9389 5510 ABN 125301206

The capital structure of the Company on completion of the issue will be as follows:

Shares

	Number
Share currently on issue	83,975,002
Class A Performance Shares on issue	17,000,000

Options

	Options
		Number
		8,000,000
Unlisted Options with an exercise price of 20 cents each expiringon 31 May 20158,00Unlisted Options with an exercise price of 20 cents each expiringon 8 February 20151,00Unlisted Options with an exercise price of 25 cents each expiringon 8 February 201550Unlisted Options with an exercise price of 30 cents each expiringon 8 February 201550Options offered pursuant to the Offer 41,98Total Options on issue51,98 Assumes the offer is fully subscribed.	Unlisted Options with an exercise price of 20 cents each expiringon 31 May 2015	8,00
	Unlisted Options with an exercise price of 20 cents each expiringon 8 February 2015	1,00	0,000
	Unlisted Options with an exercise price of 25 cents each expiringon 8 February 2015	50	0,000
	Unlisted Options with an exercise price of 30 cents each expiringon 8 February 2015	50	0,000
	Options offered pursuant to the Offer *	41,98	7,501
	Total Options on issue	51,98	7,501

• Assumes the offer is fully subscribed.

In calculating entitlements under the entitlement issue fractions will be rounded down to the nearest whole number.

The offer under the Prospectus is made to Shareholders with registered addresses in Australia and New Zealand. Overseas shareholders should contact the Company Secretary with any queries.

Full detail of the issue will be contained in the Prospectus that will be mailed to all shareholders who are registered on the record date. Shareholders eligible to participate should read the Prospectus carefully.

Yours faithfully

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Luke Atkins Chairman