CLARA RESOURCES AUSTRALIA LTD — Capital/Financing Update 2011

Sep 13, 2011

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ASX Announcement

AusNiCo Limited (ANW:ASX)

14 September 2011

Capital Raising to Fund Further Exploration

The Board of Directors of AusNiCo Limited (‘AusNiCo’ or ‘the Company’) is pleased to advise it has raised $1,400,000 via:

• a private placement to professional and sophisticated investors raising $800,000; and

• a Share Purchase Plan (‘SPP’) underwritten to $600,000 which will be offered to eligible shareholders.

The placement, lead managed by Bizzell Capital Partners Pty Ltd (‘BCP’), has been closed with firm commitments for 16,000,000 shares issued at $0.05 per share. The issue price represents a 15.9% discount to the Volume Weighted Average Price (‘VWAP’) for the 10 day trading in the Company’s shares immediately prior to the placement.

The Board is also pleased to announce that it intends to offer eligible shareholders an opportunity to participate in the capital raising through a shareholder SPP. The SPP has been underwritten by BCP to $600,000.

The SPP is designed to provide all eligible shareholders with the opportunity to purchase up to $15,000 worth of shares in the Company, free of all brokerage and commissions. The SPP will also provide an opportunity for existing shareholders with smaller parcels to increase their holdings into marketable parcels.

The purpose of the capital raising is to facilitate the Company’s further exploration and development of its suite of tenements in Queensland and New South Wales (prospective for Nickel, Copper, Silver and Gold) and to provide working capital for the Company’s operations. Exploration activities for the next 12 months will focus on:

• Drilling sulphide targets at Mt Cobalt, The Peak, Mt Clara;

• Drilling East Kilkivan gold target;

• Define drill targets at the major exploration regions of Marlborough, Koonenberry; and

• Regional advancement at Kandanga, Mt Slopea.

AusNiCo’s Chairman Brian Moller commented, “We are very pleased with the strong support for the share placement by our existing shareholders, as well as new investors.”

“Since the IPO in October 2010, AusNiCo has undertaken geophysical techniques and identified disseminated sulphides in the Black Snake Plateau Region, identified a new, previously unknown gold target at East Kilkivan, confirmed low arsenic in nickel concentrate and nickel sulphide flotation recovery works.”

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“Over the past 12 months, detailed planning and access to specialized drilling equipment allowed the company to accelerate all exploration activities on the Black Snake Plateau, and while this increased the direct exploration costs, it has resulted in a 27% reduction in overhead allocation for the program. The additional drilling activity at Silver Valley resulted in 5,521m of actual drilling completed as compared to the plan of 5,200m. As a consequence of the successful application of Induced Polarization (Geophysical Survey Technique) we extended the survey area considerably in order to firm up drill targets at Pembroke, Silver Valley, Mt Cobalt/Mt Coora and The Peak.”

“AusNiCo intends to offer eligible shareholders an opportunity to participate in the capital raising through the SPP.”

“Following completion of these raisings, the Company will have up to $1.7 million cash available to fund the Company’s exploration plans.”

Terms of the SPP Offer and Key Dates

The purchase price of the shares under this SPP offer to shareholders will be the lower of the placement price ($0.05 per share) or a 10% discount to the 5 day VWAP up to and including the last day of the SPP offer period.

Participation in the SPP will be open to registered shareholders of fully paid shares in the Company on the record date of 13 September 2011.

The timetable for the SPP Offer is as follows:

Record Date for Entitlement 13 September 2011 SPP Opens 20 September 2011 Closing Date for Applications[(1)] 12 October 2011 Issue and Allotment of Shares 20 October 2011

(1) Unless extended at the Company’s discretion.

Details of the SPP offer will be mailed to eligible shareholders early next week.

Shareholder Meeting To Approve Related Party Participation

D’Aguilar Gold Limited and the Directors and management have also agreed to support the raising and forward budget by converting certain debts, obligations and fees to equity, subject to shareholder approval. Accordingly, the Company plans to call a General Meeting of shareholders, and is in the process of preparing the relevant materials.

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On behalf of the Board KM Schlobohm Company Secretary

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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 Karl Schlobohm CEO, AusNiCo Limited Company Secretary, AusNiCo Limited Ph: 07 3303 0611 Ph: 07 3303 0680

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