ASTRON LIMITED — Interim / Quarterly Report 2007

Jul 30, 2007

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Notice to the Australian Stock Exchange

Production and Exploration Report Quarter Ended 30 June 2007

Astron Donald Project (100% Astron Limited)

Production and Development Activities

Production

During the quarter the Donald project did not conduct any production activities.

Development

During the quarter the progress on the Environmental Effect Statement continued associated with the development of the Donald Mineral Sands project (expenditure as summarized):

Geology and Mining

Mining Lease Application

The Mining Lease Application has been submitted and survey of the mining lease, after delay due to wet weather, will be completed in July.

Mineral Processing

Mineral Separation Plant

The DMS project team has now finalised all physical test work associated with the delineation of a suitable process flow sheet for the production of a zircon and HiTi product from the CUP non-magnetic concentrate.

Overall metallurgical recovery to zircon product is calculated at 86.6% and does not include the effect of re-circulation.

Registered Office : Level 19, 2 Market Street, Sydney NSW 2000, Australia Tel: 61 2 9286 5555 Fax: 61 2 9286 5599 www.astronchem.com

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Logistics

Land Acquisition and Groundwater Exploration

During the quarter DMS finalised a purchase of a strategic land parcel in the Cope-Cope region.

The land parcel (approximately 70.6ha) will be the site for a 50ML storage dam which will be used to store saline ground-water, resulting from tests to evaluate the yield and sustainability potential of the nearby Avon Deep Lead saline aquifer.

Environmental Effect Statement

All studies with the exception of water and visuals have been completed and reports will be provided to the DMS Technical Reference Group in the next few months.

Cultural Heritage

Negotiations with respect to cultural heritage continued during the quarter. A draft Memorandum of Understanding and a Cultural Heritage management plan previously developed now require rewording to align them with the New Aboriginal Heritage Act 2006 which came into force on May 28th 2007.

Expenditure Summary

Total expenses have been incurred as follows:

Production Activities	June Qtr 2007	YTD 2007
	Nil	Nil
Development Activities	June Qtr 2007	YTD 2007
	476,048	1,684,340

Registered Office : Level 19, 2 Market Street, Sydney NSW 2000, Australia Tel: 61 2 9286 5555 Fax: 61 2 9286 5599 www.astronchem.com

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Astron Gambian & Senegal Investments

– The Gambia Mineral Sands Operation (Astron has a 50% interest in Carnegie Minerals (Gambia) Limited)

Three dredges are now operational and the total estimated mineral concentrate (HMC) production for the quarter was approximately 20,000 tonnes with more than 15,000 tonnes of HMC exported to China.

The overall emerging production is on track for the calendar year. The targets for the next quarter include commissioning of the fourth dredge, which is under construction now with dedicated water bore supply already established as well as starting the construction of the dry mining plant.

Construction of major mine site facilities including offices, maintenance workshop, assay laboratory and stores has been well advanced and their final completion is expected in July.

The mining team has been increased up to 144 employees at the end of this quarter. Key personnel employed during this period included a Mine Planning Engineer, Financial Controller and a Community Relations/Safety Officer.

Registered Office : Level 19, 2 Market Street, Sydney NSW 2000, Australia Tel: 61 2 9286 5555 Fax: 61 2 9286 5599 www.astronchem.com

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– Senegal Mineral Sands Exploration (Astron has a 50% interest in the Joint Venture with

Carnegie Minerals Plc)

Carnegie’s exploration team has successfully completed its two-month, 8,000 line metre drilling programme in Southern Senegal, using Wallis Drilling’s air-core rig. Drilling was focused on testing linear magnetic and radiometric exploration targets, identified by the high-resolution airborne survey carried out in late 2006.

In the northern part of the Company’s licence area, near the recently explored Niafarang deposit, 502 holes were drilled to an average depth of 8 metres. Additionally 168 holes were drilled at a high dune area near Cap Skiring in the south to an average depth of 23 metres.

All drill holes were sampled at 1.5 m intervals and all sand samples with visually noticeable heavy mineral grades are being sent for assaying at independent laboratories in Australia, after preliminary processing in Senegal.

Based on the assaying results, Carnegie will plan follow-up exploration in both the northern and southern parts of the licence area, as well as drill testing the eastern part that was not able to be drilled during this programme due to the onset of the rainy season.

For further information, contact;

All enquires in relation to the above should be directed to Ann Nahajski of the company’s public relations consultant, Porter Novelli (Office: +61 (0)8 9386 1233 or Mobile: +61 (0)400 205 433).

Registered Office : Level 19, 2 Market Street, Sydney NSW 2000, Australia Tel: 61 2 9286 5555 Fax: 61 2 9286 5599 www.astronchem.com