CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2011

Oct 19, 2011

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ASX Announcement

AusNiCo Limited (’AusNiCo’)

20 October 2011

Share Purchase Plan Closed

The Directors of AusNiCo (or the ‘Company’) advise that further to their previous update of 14 October 2011 in relation to the closure of the Company’s Share Purchase Plan (‘SPP’), allotment is due to take place today for 3,500,000 shares or $140,000 received from shareholders. A further 9,200,000 shares or $460,000 will be subscribed by the underwriter under the terms of the underwriting agreement following approval by shareholders at the Company’s Extraordinary General Meeting scheduled for 2 November 2011.

The Directors would like to thank those shareholders who participated in the SPP for their continued support of the Company.

AusNiCo looks forward to providing updates on the Company’s key projects at Mt Clara, Mt Cobalt, The Peak, East Kilikivan, Silver Valley, Marlborough and Koonenberry.

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On behalf of the Board KM Schlobohm Company Secretary

About AusNiCo

Since making its debut on the ASX in October 2010, AusNiCo has identified disseminated nickel sulphides, and copper, silver and gold potential in its South East Queensland tenement package. AusNiCo has also added to its tenement position in Queensland, and in the Koonenberry region of NSW with EPM’s prospective for nickel sulphides.

AusNiCo offers:

• multiple commodities, including nickel, gold, silver, copper, cobalt and platinum group metals;

• an extensive package of tenements with encouraging mineralisation in an area of continuing industrial growth and established infrastructure;

• advanced targets with the prospect of rapid drilling results;

• accomplished Board and Management with substantial experience; and

• discovery of significant disseminated nickel sulphide mineralised zones in greenstone belts, initially in south east Queensland.

Email: info@ausnico.com.au

Electronic copies and more information are available on the Company website: www.ausnico.com.au

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For further information contact:

Mr John Downie CEO, AusNiCo Limited Ph: 07 3303 0611

Karl Schlobohm Company Secretary, AusNiCo Limited Ph: 07 3303 0680

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