AUKING MINING LIMITED — Capital/Financing Update 2007

Oct 29, 2007

ASX/MEDIA ANNOUNCEMENT

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30 October 2007

CYCAL ends its first day of trading at a 188% premium to its listing price

China Yunnan Copper Australia Limited (CYCAL) (ASX code CYU) ended its first day of trading today on the Australian Stock Exchange at 72c, a 188% premium to its listing price of 25cps after closing its initial public offering of shares heavily oversubscribed and three weeks ahead of the scheduled closing date.

The Queensland copper, gold and uranium explorer has China’s third largest copper producer, Yunnan Copper Industry (Group) Co Ltd, as its largest, cornerstone investor.

CYCAL has highly prospective copper, gold and uranium tenements in Queensland with 2,000 km[2] chiefly in the Mt Isa Inlier, Ravenswood-Pentland Province and Clermont Inlier.

It has a farm-in agreement with Newmont Exploration Pty Ltd (Australian wholly-owned subsidiary of Newmont Inc) and partner Sipa Gold Limited to fund exploration at its Ravenswood Gold Project.

The company has 77.6 million shares and 18.4 million options on issue and some $6.5 million in cash following the issue.

About CYCAL

CYCAL listed on the ASX on 29 October 2007 by issuing 16,000,000 25c shares to raise $4 million. CYCAL is an Australian company formed to explore for and develop minerals in Australia and overseas. Cornerstone investor, Yunnan Copper Industry (Group) Co Ltd, is one of China’s largest copper producers. CYCAL is targeting high quality copper, gold and uranium projects with eleven wholly owned Exploration Permit for Minerals (EPM’s) in the Mt Isa Inlier, Ravenswood-Pentland Province and the Clermont Inlier in Queensland.

For further information please contact;

Dr Mark Elliott Managing Director CYCAL 0409 998 840

Kevin Kartun Account Director Financial & Corporate Relations (02) 8264 1003

or visit the website, www.cycal.com.au