AUSTRALIAN VANADIUM LIMITED — Capital/Financing Update 2014

Apr 14, 2014

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Yellow Rock Resources Limited ABN 90 116 221 740 Address 420 Newcastle 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 yrrinfo@yellowrock.com.au

15 April 2014

Extension of Closing Date Non-Renounceable Rights Issue

As announced to the Australian Securities Exchange (ASX) on 28 February 2014 and 20 March 2014, Yellow Rock Resources Limited is undertaking a non-renounceable rights issue of one (1) new share at $0.01 per share (New Share) for every one (1) share held at the Record Date, and one (1) free attaching new option exercisable at $0.015 each on or before 31 December 2017 (New Option) for every one (1) New Share subscribed for and issued, to raise up to $3,490,262 (Rights Issue).

The Board of Yellow Rock Resources Limited has decided to extend the closing date for the acceptance of applications in the Rights Issue.

The closing date for the Rights Issue is now 5:00pm WST, Friday 9 May 2014 .

The revised timetable for the remaining dates is set out below:

Event	Date
Closing Date (5pm WST)	Friday, 9 May 2014
New Shares trading on a deferred settlement basis	Monday, 12 May 2014
ASX notified of under subscriptions	Wednesday,14 May2014
Issue Date/Despatch	Monday, 19 May 2014
New Shares Commence Normal Trading	Tuesday,20 May2014

*These dates and times are indicative only and YRR reserves the right to change these dates and times subject to the Corporations Act and ASX Listing Rules.

Eligible shareholders will have received a non-renounceable rights issue prospectus along with an entitlement and acceptance form. Shareholders should refer to these documents for the full details and terms of the Rights Issue.

Yours faithfully,

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Syd Chesson Chairman