CATALINA RESOURCES LTD — Capital/Financing Update 2010

Feb 15, 2010

==> picture [125 x 42] intentionally omitted <==

SHREE MINERALS LIMITED

16 February 2010

Wade Baggott Adviser, Issuers Australian Securities Exchange Level 8, Exchange Plaza 2 The Esplanade PERTH WA 6000

Dear Sir

Shree Minerals Limited (ACN 130618683)

In accordance with ASX requirements for admission of Shree Minerals Limited ( Company ) to the official list of ASX, the Company confirms the following:

• (a) all of the tenements in which the Company has an interest have been granted. There are no pending exploration licence applications;

• (b) the Company is currently in the process of finalising the renewal application form in respect of EL41/2004 (Nelson Bay River) received from Mineral Resources Tasmania of the Department of Infrastructure, Energy and Resources. This will be submitted prior to the required submission date of 1 March 2010;

• (c) the budgeted first year’s administration costs of the Company are $625,000; and

• (d) settlement of the Acquisition Agreement between the Company and Gujarat NRE Resources NL ( Gujarat ) has occurred, including the payment of $500,000 and issue of 5,000,000 ordinary shares to Gujarat.

Should you have any queries, please do not hesitate to contact me on 08 9322 4944.

Yours faithfully

==> picture [142 x 77] intentionally omitted <==

Steve Ledger Company Secretary Shree Minerals Limited ACN 130 618 683

Encl.

SHREE MINERALS LTD, ACN 130618683 Suite 1A, 46 Ord St, West Perth WA 6005 Phone: + 61 (08) 93869850, FAX: +61 (08) 93869853