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BHP Group Limited Capital/Financing Update 2009

Oct 15, 2009

14787_rns_2009-10-15_06ff217a-17f5-4a4b-be5e-ad45d42a5415.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT

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16 October 2009

Thundelarra Exploration Ltd ABN 74 950 465 654 ACN 085 782 994

BHP BID FOR UMC TO FUND THX GROWTH

  • BHP has offered $1.30 cash per share for UMC

For further information regarding Thundelarra Exploration Ltd contact:

Brett Lambert Managing Director

or

Brian Richardson Executive Director

Phone: + 61 8 9321 9680 Fax: + 61 8 9321 9670

Website: www.thundelarra.com

Email:

[email protected]

Registered Office: Suite 2, Level 3, IBM Building 1060 Hay Street, West Perth Western Australia 6005

PO Box 7363, Cloisters Square Perth Western Australia 6850

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  • Thundelarra has realised $2.7 million from the onmarket sale of 2.15 million UMC shares

  • 18.0 million UMC shares, valued by the BHP bid at $23.4 million, have been retained

  • Thundelarra is now well funded to aggressively pursue development of its NT uranium projects

BHP Billiton has made a conditional offer of $1.30 cash per share to acquire all the shares in United Minerals Corporation NL (UMC) via a scheme of arrangement. Thundelarra is the largest shareholder in UMC with 18.0 million shares, having sold 2.15 million shares on market this morning realising $2.7 million before costs.

The proceeds of today’s share sale satisfy Thundelarra’s medium term funding requirements. Thundelarra intends to retain the remaining 18 million UMC shares and support the proposed scheme of arrangement. However the Company reserves the right to divest all or part of its remaining UMC shareholding if it receives an alternative offer that it considers to be in the best interests of its shareholders.

Following completion of the scheme of arrangement or alternative divestment of the UMC shareholding, Thundelarra will be in a very strong financial position to aggressively progress the further development of the Company’s Northern Territory uranium projects.

The Thunderball prospect, part of Thundelarra’s Pine Creek project, is currently Australia’s highest grade uranium prospect with grades of up to 20% U3O8. Further diamond drilling is currently underway at Thunderball and a second diamond drill rig is scheduled to arrive at the site next week. Additional Northern Territory based staff have been engaged as part of the Company’s plans to step up the level of activity within the Pine Creek project area.

In addition, Thundelarra intends to commence drilling at the highly prospective Ngalia Basin project prior to year end.