ASTRON LIMITED — Capital/Financing Update 2010

Mar 29, 2010

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AUSTPAC RESOURCES N.L.

ACN 002 264 057 Level 3 62 Pitt Street SYDNEY NSW 2000 GPO Box 5297 SYDNEY NSW 2001 Telephone: (+61 2) 9252 2599 Facsimile: (+61 2) 9252 8299 Email: apgtio2@ozemail.com.au www.austpacresources.com

30 March 2010

The Manager Company Announcements Australian Stock Exchange Limited Exchange Centre Level 6 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

RE: AUSTPAC RESOURCES NL SALE OF E.L. 4521

We are pleased to provide an announcement from the Managing Director of Austpac Resources NL for immediate release.

Yours faithfully

N.J. Gaston Company Secretary

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ASX cover letter - Shareholder Update1

March 30, 2009

AUSTPAC SECURES $5 MILLION FROM THE SALE OF EL 4521 (WIM 150) TO ACCELERATE THE DEVELOPMENT OF THE NEWCASTLE IRON RECOVERY PLANT

• Austpac is pleased to announce that it has agreed to sell Exploration Licence 4521, Victoria, including the WIM 150 Project, to Astron Limited (Astron) for $5 million. The sale is subject to Ministerial approval of the transfer of EL 4521 to Astron.

• Subject to the completion of the sale, Austpac has also granted Astron a non-exclusive licence to use the Company’s LTR (low temperature roasting) and CLR (continuous leach reactor) technologies in Australia, China and elsewhere. Astron plans to use these technologies to beneficiate fine- grained minerals from the Murray Basin.

• Austpac is commercialising the Company’s ERMS and EARS technologies in the titanium and steel businesses. The proceeds of the sale will be used to accelerate the refurbishment of the EARS section of Austpac’s ERMS SR Demonstration Plant at Newcastle; the Newcastle Iron Recovery Plant. This project will commercially recycle waste from the steel industry (mill scale and spent pickle liquor) to produce high grade iron briquettes for steel production and hydrochloric acid for industry and create a cash flow for the Company.

For further information please contact: Mike Turbott Managing Director ‐ Tel (+61‐2) 9252‐2599

About Austpac Resources N.L. (ASX code: APG)

Austpac Resources N.L. [ www.austpacresources.com ] is a minerals technology company focused on the titanium, steel and iron ore industries. It has been listed on the Australian Stock Exchange since 1986. Austpac’s key technology transforms ilmenite into high-grade synthetic rutile, a preferred feedstock for titanium metal and titanium dioxide pigment production. The technology is also being used to process waste chloride solutions and iron oxides produced by steel making to recover hydrochloric acid and iron metal pellets

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WINNER: 2008 National Mining Awards APPLIED TECHNOLOGY OF THE YEAR

APG (2010-03-30) - Sale of EL 4521 to ATR