ALTECH BATTERIES LTD — Capital/Financing Update 2012

Feb 1, 2012

MEDIA/ASX RELEASE

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02 FEBRUARY 2012

DRILLING COMMENCES AT AMMG’S BENCUBBIN IRON ORE PROJECT, WESTERN AUSTRALIA

HIGHLIGHTS

• AMMG has commenced first round of reverse circulation (“RC”) drilling at its Bencubbin iron ore project in the Yilgarn region, Western Australia, following receipt of necessary approvals.

• An initial eight (8) exploration drill holes will selectively test previously identified magnetic anomalies.

• The Bencubbin iron ore project was a successful application in the Western Australian government’s EIS co-funded drilling program.

Australia Minerals and Mining Group Limited ( ASX: AKA ) ( “AMMG” or “the Company” ), is pleased to announce that the first round of drilling has commenced at its 100% owned Bencubbin iron ore project ( “Bencubbin” ) in south-Western Australia.

The first phase drilling program will consist of approximately 700 metres of reverse circulation (RC) drilling. Up to eight (8) drill holes averaging 90 metres each are planned to test a portion of the eastern structure of the two magnetic anomalies and begin to define the magnetite mineralisation (refer to Figure 2). The Company will announce further drilling updates as the drilling program progresses and analysis results are received.

AMMG’s 100% owned Bencubbin project (through its wholly owned subsidiary, Yilgarn Iron Pty Ltd) is made up of one granted tenement E70/4087, with a tenement area of approximately 250km². The tenement area covers a greenstone belt that generates a significant magnetic signature. Aeromagnetic analysis shows the geological structure under the surface for approximately 14km strike length.

In September last year, AMMG was successful in its submission to the Western Australian government’s Exploration Incentive Scheme (EIS) co-funding drilling program. The Company will be refunded up to a total of $66,000 towards the direct drilling costs.

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Figure 1: Drilling commencing at the Bencubbin iron ore project

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Figure 2: Proposed plan of total drill hole fences on the eastern magnetic feature at the Bencubbin iron ore project

ENDS

For more information on AMMG please see below or contact:

Ric Dawson Tony Dawe Managing Director Professional Public Relations Pty Ltd T: +61 8 9389 5557 T : +61 8 9388 0944 ric@ammg.com.au tony.dawe@ppr.com.au

About AMMG

AMMG was established for the purpose of securing exploration ground over areas that have typically been subject to historical exploration and where significant geological data was available and/or the land was considered sufficiently prospective. Areas with existing or potential access to infrastructure were also targeted.

To date, the Company has identified project areas located in Western Australia and Queensland, which the directors believe may have the potential for the realisation of economic resources of these commodities currently targeted, being - iron ore, gypsum, kaolin/aluminous clay, mineral sands, salt and coal.

The Company itself or under joint venture now has 17 granted tenements and 47 applications for tenements covering approximately 12,213km[2] over the project areas. AMMG is pursuing a diversification strategy at this stage of the Company’s development in order to provide additional development options and potential production opportunities.

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