CHALLENGER GOLD LIMITED — Capital/Financing Update 2009

Aug 11, 2009

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12 August 2009

ASX Companies Announcements Office ASX online ASX : SEY

PLACEMENT COMPLETION AND DIRECTOR OPTIONS

Sunset Energy Limited (“Sunset Energy”) (ASX Code: SEY) is pleased to announce that it has successfully raised $287,500 before costs through a placement of 5,750,000 shares at $0.05 each.

The Company also announces that 3,500,000 incentive options will be issued to its Board of Directors, subject to shareholders’ approval. These options are exercisable at $0.10 each on or before 30 June 2012. The company will seek shareholders’ approval for the matter at the company’s next Annual General Meeting in November 2009.

Yours faithfully

David Prentice Director

address Level 2, 79 Hay Street, Subiaco WA 6008 postal address PO Box 1424, West Perth WA 6872 telephone + 61 8 9200 4472 facsimile +61 8 9200 4476 email admin@sunsetenergy.com.au website www.sunsetenergy.com.au 382

ACN 123 591