AUSQUEST LIMITED — Share Issue/Capital Change 2009

Sep 10, 2009

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11 September 2009

ABN 35 091 542 451 6 Kearns Crescent Ardross WA 6153 Telephone: 08 9364 3866 Facsimile: 08 9364 4892 Email: graeme@ausquest.com.au Web: www.ausquest.com.au

The Manager Company Announcements Office Australian Securities Exchange

Dear Sir/ Madam

NOTICE GIVEN UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT

AusQuest Ltd ( Company ) has issued 250,000 shares in consideration for the acquisition of mining tenements. The shares are fully paid ordinary shares and were issued at 15.5 cents each.

The shares above are part of a class of securities quoted on ASX and may be subject to a subsequent offer for sale.

The Company therefore gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cwlth) in relation to the above issue of fully paid ordinary shares by the Company that:

• (a) the Company issued these securities without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) the Company, as at the date of this notice, has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (ii) section 674 of the Corporations Act; and

• (c) there is no “excluded information” within the meaning of sections 708A(7) and 708A(8) of the Corporations Act which is required to be disclosed under section 708A(6)(e) of the Corporations Act.

On behalf of the Board Yours faithfully AusQuest Limited

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Darren Crawte Company Secretary