CAZALY RESOURCES LIMITED — Capital/Financing Update 2009

Jun 16, 2009

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17 June 2009

ASX Release

CLOSURE OF NON-RENOUNCEABLE ENTITLEMENT ISSUE

The Directors of Cazaly Resources Limited are pleased to announce that the NonRenounceable Entitlement Issue of Shares offered pursuant to the Prospectus lodged on 11 May 2009 has closed.

The Company advises that the shortfall of the issue is 10,620,708 Shares with an attaching option for every two Shares subscribed for. The Directors intend to place the shortfall in accordance with Section 1.9 of the Prospectus dated 11 May 2009.

Yours sincerely,

Nathan McMahon Managing Director

Clive Jones Managing Director