ARK MINES LIMITED — Capital/Financing Update 2011

May 2, 2011

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ACN 123 668 717

ASX Announcement

2 May 2011

Ark Mines Limited Initial Public Offering Prospectus dated 18 February 2011

The Company announces the close of the above offer and completion of the allotment and issue of 15,500,000 ordinary shares pursuant thereto.

4,463,250 of the shares are subject to escrow for a period of 24 months from the date of official quotation of the shares and 1,075,000 of the shares are subject to escrow for a period of 12 months from the date of issue thereof.

The sum of $100,000 overpayment of application money has been refunded.

Address: Level 33, Australia Square, 264 George St, SYDNEY NSW 2000 Telephone: 9258 1989 Facsimile: 9258 1111