CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2011

Oct 13, 2011

==> picture [185 x 54] intentionally omitted <==

ASX Announcement

AusNiCo Limited (the Company)

14 October 2011

Share Purchase Plan Closed

The AusNiCo Limited (‘AusNiCo’) Share Purchase Plan (‘SPP’), as announced on 14 September 2011, closed at 5:00pm (AEST) on Wednesday 12 October 2011.

The Directors of AusNiCo advise that the issue price under the SPP is $0.04 per share, being the lower of the placement price and a 5 day volume weighted average price (‘VWAP’) of share traded on the ASX up to an including the last date of the SPP offer period.

==> picture [161 x 30] intentionally omitted <==

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.

AusNiCo currently has 110,160,000 shares on issue.

Email: info@ausnico.com.au

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

For further information contact:

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

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

1 | P a g e