AUDALIA RESOURCES LIMITED — Capital/Financing Update 2012

Sep 27, 2012

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ACQUISITION OF LAKE JOHNSTON PROJECT

ANNOUNCEMENT

28 SEPTEMBER 2012

Audalia Resources Limited ( Audalia ) (ASX: ACP) is pleased to announce that it has completed the purchase of additional tenements that surround Audalia’s Medcalf Project from Lake Johnson Pty Ltd. The additional tenements purchased comprises of eight prospecting licences P63/1528, P63/1529, P63/1530, P63/1531, P63/1532, P63/1533, P63/1560 and P63/1561, and two granted exploration licences E63/1133 and E63/1134.

The additional tenements increases Audalia’s ground holdings substantially. There is potential to further expand the existing vanadium/titanium footprint already defined by historic drilling on the Audalia tenements.

The Company has paid the purchase price of $55,000 (exclusive of GST) to the vendors in consideration for acquiring 100% of the Lake Johnston Project.

Audalia has begun a site clearance survey over all the tenements and will commence a drilling program during quarter two to substantiate a historical resource estimate.

Audalia will continue to actively review and assess other projects in the resource sector, both in Australia and overseas, by way of acquisition or investment/ joint venture.

Authorised by:

Dato Soo Kok Lim Executive Chairman