AUREKA LIMITED — Capital/Financing Update 2011

Jul 24, 2011

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25 July 2011

ASX Release Navarre Minerals Limited (ASX:NML) Notice under Section 708AA(2)(f) of the Corporations Act

Navarre Minerals Limited has today announced an entitlement offer of 1 ordinary share for every 3 ordinary shares in Navarre Minerals Limited held as at 3 August 2011 to raise $3,210,204 (before expenses of the offer).

This notice is given by Navarre Minerals Limited under section 708AA(2)(f) of the Corporations Act as modified by Australian Securities and Investments Commission Class Order 08/35 (CO 08/35).

Navarre Minerals Limited advises that:

1. the shares the subject of the Offer (New Shares) will be made available and will be issued without disclosure under Part 6D.2 of the Corporations Act;

2. this notice is given under section 708AA(2)(f) of the Corporations Act as modified by CO 08/35;

3. as a disclosing entity, Navarre Minerals Limited is subject to regular reporting and disclosure obligations;

4. as at the date of this notice, Navarre Minerals Limited has complied with:

   • (a) the provisions of Chapter 2M of the Corporations Act as they apply to Navarre Minerals Limited; and

   • (b) section 674 of the Corporations Act as it applies to Navarre Minerals Limited;

5. as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act as modified by CO 08/35; and

6. the issue of New Shares is not expected to have a material effect or consequence on control of Navarre Minerals Limited, other than disclosed in the Offer Document dated 25 July 2011.

For further information contact:

Trevor Shard Company Secretary E tshard@navarre.com.au T +61 3 9820 5509

Navarre Minerals Limited ACN 125 140 105 Level 4, 448 St Kilda Road, Melbourne VIC 3004 PO Box 7693, St Kilda Road VIC 8004 Navarre Operations: PO Box 385, Stawell VIC 3380 Ph: 61 3 9820 5509 Fax: 61 3 9820 2586 www.navarre.com.au