AUSTRALIAN VANADIUM LIMITED — Capital/Financing Update 2012

Aug 28, 2012

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Yellow Rock Resources Limited ABN 90 116 221 740 Address 420 Newscastle Street | West Perth | WA | 6005 Mailing Address PO Box 332 | Leederville | WA | 6903 web www.yellowrock.com.au p (08) 9227 6300 f (08) 9227 6400 e info@yrr.com.au

29 August 2012

Company Announcements ASX Limited

Expiry of Options

Yellow Rock Resources Limited (“YRR”) has 110,500,000 quoted options on issue that are exercisable at 7 cents each and expire on 30 September 2012 (“Options”). These Options are quoted under the ASX code YRROA.

Each Option entitles the holder to acquire one ordinary share in YRR for 7 cents each. However, the last sale price for ordinary shares in YRR was 1.6 cents on 28 August 2012.

The lowest price at which ordinary shares in YRR have traded over the last 3 months is 1.4 cents ($0.014) on 16 August 2012. The highest price at which ordinary shares in YRR have traded over the last 3 months is 2.2 cents ($0.022) on 19 July 2012.

Quotation of these Options on the Australian Securities Exchange ends at the close of trading on 30 September 2012. There is no underwriting agreement with respect to the exercise of these Options.

To exercise these options either wholly or in part, an appropriate notice of exercise of the relevant options together with payment of 7 cents ($0.07) for each option exercised, must be received by YRR at its address, 420 Newcastle Street, West Perth, by 5pm WST on 30 September 2012. For each option exercised, the optionholder will be allotted one Ordinary Share in the capital of YRR. Options not exercised by 5pm WST on 30 September 2012 will lapse.

The ASX has granted YRR a waiver from ASX Listing Rule 6.24 to the extent necessary to permit Yellow Rock Resources Limited not to send the notices to optionholders required by paragraph 6.1 of ASX Appendix 6A in relation to these Options. Consequently, an option expiry notice will not be sent to holders of these Options.

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Simon Chesson Company Secretary