AUSTRALIAN VANADIUM LIMITED — Share Issue/Capital Change 2012

Jun 19, 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

20 June 2012

ALLOTMENT OF 30 MILLION SHARES

We enclose the Appendix 3B which is for the allotment of 30 million shares on 15 June 2012. The 30 million ordinary shares have been issued pursuant to the announcement on 28 May 2012 for the acquisition of the tenement.

The Company will seek shareholder approval at a meeting of shareholders to consider issue of the 30 million options that were announced as part of the tenement acquisition to a meeting of shareholders for the allotment to comply with the listing rules.

Yours faithfully,

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Simon Chesson Company Secretary

Appendix(3B( New(issue(announcement(

Rule%2.7,%3.10.3,%3.10.4,%3.10.5

Appendix(3B(

New(issue(announcement,(( application(for(quotation(of(additional(securities(( and(agreement(

Information%or%documents%not%available%now%must%be%given%to%ASX%as%soon%as%available.%%Information%and% documents%given%to%ASX%become%ASX’s%property%and%may%be%made%public.%

Introduced!1/7/96.!!Origin:!Appendix!5.!!Amended!1/7/98,!1/9/99,!1/7/2000,!30/9/2001,!11/3/2002,!1/1/2003,!24/10/2005.!

Name!of!entity!

Yellow!Rock!Resources!Limited!

ABN!

90!116!221!740!

We!(the!entity)!give!ASX!the!following!information.!

Part(1(<(All(issues(

You%must%complete%the%relevant%sections%(attach%sheets%if%there%is%not%enough%space).

1 +Class of+securities issued or to beissued 2 Numberof+securitiesissuedorto beissued(ifknown)ormaximum numberwhichmaybeissued 3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price anddatesforconversion)	OrdinaryShares
	30,000,000
	N/A

+!See!chapter!19!for!defined!terms.!

24/10/2005!

Appendix!3B!!Page!1!

Appendix(3B( New(issue(announcement(

4! Do!the![+] securities!rank!equally!in! Yes![!YRR!Fully!Paid!Shares! all! respects! from! the! date! of! allotment! with! an! existing![+] class! of!quoted![+] securities?! If! the! additional! securities! do! not! rank!equally,!please!state:! • the!date!from!which!they!do! • the! extent! to! which! they! participate! for! the! next! dividend,!(in!the!case!of!a!trust,! distribution)! or! interest! payment! • the!extent!to!which!they!do!not! rank! equally,! other! than! in! relation! to! the! next! dividend,! distribution! or! interest! payment! 5! Issue!price!or!consideration! $0.02! 6! Purpose!of!the!issue! Acquisition!of!Tenement!Number!E51/1529!! (If!issued!as!consideration!for!the! As!per!announcement!on!28!May!2012! acquisition! of! assets,! clearly! identify!those!assets)! 7! Dates!of!entering![+] securities!into! 15!June!2012! uncertificated! holdings! or! despatch!of!certificates! Number! +Class! 8! Number! and! +class! of! all! 349,026,205! Ordinary!Shares! +securities! quoted! on! ASX! 110,500,000! Listed!Options! ( including the! securities! in! clause!2!if!applicable)!

+!See!chapter!19!for!defined!terms.!

Appendix!3B!Page!2!

24/10/2005!

Appendix(3B( New(issue(announcement(

Number! +Class! 9! Number! and! +class! of! all! !!80,000,000! Partly!Paid!Shares! +securities! not! quoted! on! ASX! ( including the! securities! in! 200,000,000! Options!(31/12/14;!! clause!2!if!applicable)! $0.025)! 10! Dividend!policy!(in!the!case!of!a! N/A! trust,!distribution!policy)!on!the! increased!capital!(interests)!

Part(2(<((Bonus(issue(or(pro(rata(issue(

11 Is security holder approval required? 12 Istheissuerenounceableornon[ renounceable? 13 Ratioinwhichthe+securitieswill beoffered 14 +Classof+securitiestowhichthe offerrelates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements inrelationtofractions 18 Names of countries in which the entity has +security holders who will not be sent new issue documents Note: Security holders must be told how their entitlementsaretobedealtwith. Crossreference:rule7.7. 19 Closing date for receipt of acceptancesorrenunciations	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A

+!See!chapter!19!for!defined!terms.!

1/1/2003! !

Appendix!3B!!Page!3!

Appendix(3B( New(issue(announcement(

20 Namesofanyunderwriters 21 Amount of any underwriting fee orcommission 22 Namesofanybrokerstotheissue 23 Feeorcommissionpayabletothe brokertotheissue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalfof+securityholders 25 If the issue is contingent on +security holders’ approval, the dateofthemeeting 26 Date entitlement and acceptance form and prospectus or Product DisclosureStatementwillbesent topersonsentitled 27 If the entity has issued options, and the terms entitle option holderstoparticipateonexercise, thedateonwhichnoticeswillbe senttooptionholders 28 Date rights trading will begin (if applicable) 29 Date rights trading will end (if applicable) 30 How do +security holders sell theirentitlements_infull_through abroker? 31 How do +security holders sell _part_oftheirentitlementsthrough a broker and accept for the balance?	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A

+!See!chapter!19!for!defined!terms.!

Appendix!3B!Page!4!

1/1/2003!

Appendix(3B( New(issue(announcement(

• 32! How!do![+] security!holders!dispose! of! their! entitlements! (except! by! sale!through!a!broker)?!

N/A!

• 33! +Despatch!date!

N/A!

Part(3(<(Quotation(of(securities(

You%need%only%complete%this%section%if%you%are%applying%for%quotation%of%securities%

• 34! Type!of!securities!! ( tick%one )!

• (a)!  Securities!described!in!Part!1!

• (b)![All!other!securities!]

Example:! restricted! securities! at! the! end! of! the! escrowed! period,! partly! paid! securities! that! become! fully! paid,! employee!incentive!share!securities!when!restriction!ends,!securities!issued!on!expiry!or!conversion!of!convertible! securities!

Entities(that(have(ticked(box(34(a)(

Additional(securities(forming(a(new(class(of(securities(

Tick%to%indicate%you%are%providing%the%information%or% documents

• 35! If!the![+] securities!are![+] equity!securities,!the!names!of!the!20!largest!holders!of!the! additional![+] securities,! and! the! number! and! percentage! of! additional![+] securities! held!by!those!holders!

36! If!the![+] securities!are![+] equity!securities,!a!distribution!schedule!of!the!additional! +securities!setting!out!the!number!of!holders!in!the!categories! 1![!1,000! 1,001![!5,000! 5,001![!10,000! 10,001![!100,000! 100,001!and!over!

• 37! A!copy!of!any!trust!deed!for!the!additional![+] securities!

+!See!chapter!19!for!defined!terms.!

1/1/2003! !

Appendix!3B!!Page!5!

Appendix(3B( New(issue(announcement(

Entities(that(have(ticked(box(34(b)(

38 Number of securities for which +quotationissought 39 Class of +securities for which quotationissought 40 Dothe +securitiesrankequallyin all respects from the date of allotment with an existing +class ofquoted+securities? If the additional securities do not rankequally,pleasestate: • thedatefromwhichtheydo • the extent to which they participate for the next dividend,(inthecaseofatrust, distribution) or interest payment • theextenttowhichtheydonot rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request for quotation now Example:Inthecaseofrestrictedsecurities,end ofrestrictionperiod (if issued upon conversion of another security, clearly identify thatothersecurity) 42 Number and +class of all +securities quoted on ASX (_including_the securities in clause 38)	N/A
	N/A
	N/A
	N/A
	Number	+Class
	N/A

+!See!chapter!19!for!defined!terms.!

Appendix!3B!Page!6!

1/1/2003!

Appendix(3B( New(issue(announcement(

Quotation(agreement(

1! +Quotation! of! our! additional! +securities! is! in! ASX’s! absolute! discretion.! ! ASX! may!quote!the![+] securities!on!any!conditions!it!decides.!!!

• 2! We!warrant!the!following!to!ASX.!

• The!issue!of!the![+] securities!to!be!quoted!complies!with!the!law!and!is! not!for!an!illegal!purpose.!

• There! is! no! reason! why! those![+] securities! should! not! be! granted! +quotation.!

• An!offer!of!the![+] securities!for!sale!within!12!months!after!their!issue! will!not!require!disclosure!under!section!707(3)!or!section!1012C(6)!of! the!Corporations!Act.!!!

Note:!An!entity!may!need!to!obtain!appropriate!warranties!from!subscribers!for!the!securities!in!order!to!be!able! to!give!this!warranty!

• Section!724!or!section!1016E!of!the!Corporations!Act!does!not!apply!to! any! applications! received! by! us! in! relation! to! any![+] securities! to! be! quoted! and! that! no[one! has! any! right! to! return! any![+] securities! to! be! quoted!under!sections!737,!738!or!1016F!of!the!Corporations!Act!at!the! time!that!we!request!that!the![+] securities!be!quoted.!

• If!we!are!a!trust,!we!warrant!that!no!person!has!the!right!to!return!the! +securities!to!be!quoted!under!section!1019B!of!the!Corporations!Act!at! the!time!that!we!request!that!the![+] securities!be!quoted.!

• 3! We!will!indemnify!ASX!to!the!fullest!extent!permitted!by!law!in!respect!of!any! claim,! action! or! expense! arising! from! or! connected! with! any! breach! of! the! warranties!in!this!agreement.!

• 4! We! give! ASX! the! information! and! documents! required! by! this! form.! ! If! any! information! or! document! not! available! now,! will! give! it! to! ASX! before! +quotation!of!the!+securities!begins.!!We!acknowledge!that!ASX!is!relying!on!the! information! and! documents.! ! We! warrant! that! they! are! (will! be)! true! and! complete.!

Sign!here:!! .............Simon!Chesson.............................! Date:!....20!June!2012..........! (Director/Company!secretary)!

Print!name:!! .....Simon!Chesson....................................................!

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+!See!chapter!19!for!defined!terms.!

24/10/2005!

Appendix!3B!Page!7!