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ANAX METALS LIMITED Capital/Financing Update 2007

Jul 26, 2007

64389_rns_2007-07-26_7781214d-9e4c-40c2-98e4-0a87068d2f7a.pdf

Capital/Financing Update

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ASX

Desert Energy IPO Closes heavily oversubscribed

RELEASE

27 July 2007

Aurora Minerals Limited PO Box 3107 Perth WA 6832

Large Multi Commodity Project-Portfolio Prospective for base metals, uranium, gold and iron ore

Aurora Minerals is pleased to announce that the Desert Energy IPO (Aurora 50%) has raised the full $8 million maximum subscription amount, and has closed heavily oversubscribed.

The offer received strong support from Aurora shareholders, clients of the sponsoring broker, Hartleys Limited and the general public.

Allocation of shares via Computershare is in process and all excess monies are anticipated to be returned next week.

We will advise investors of the planned ASX listing date once confirmation from the ASX is received.

Yours faithfully

50% of Desert Energy

Website

www.auroraminerals.com

Garry O’Hara Robert Taylor Phillip Jackson Executive Director Managing Director Chairman

For further information on this release and the Aurora Minerals group of companies, please contact:

Ken Banks Investor Relations Manger

Phone 0402 079 999

The Company’s website, is recommended reading for interested market watchers, brokers and investors. The website contains information on the Company’s projects including maps, a list of the Companies announcements to ASX, the legislative environments under which the Company operates, Corporate Governance, a section on risks, many of which are common to exploration companies, and other useful information. A list of the Company’s announcements is also obtainable from the Australian Stock Exchange website at www.asx.com.au

Email [email protected]

If you would like copies of announcements emailed to you can contact Ken Banks.