CODEIFAI LIMITED — AGM Information 2005

May 29, 2005

AUSTRALIS MINING CORPORATION LIMITED

ACN 108 649 421

Level 35, Suite 3504, 100 Miller Street North Sydney, NSW 2060 Phone: (02) 8908 5988 or Facsimile (02) 8908 5977

Company Announcements Office Australian Stock Exchange Limited Monday 30th May 2005 One Page

ASX Code: AUV

EXTENSION OF TIME TO HOLD AGM

We advise that the Australian Securities & Investment Commission ("ASIC") have granted the company an extension of time to hold its annual general meeting ("AGM") in respect of the 2004 financial year.

Ordinarily, the Corporations Act 2001 requires the company's first AGM to be held within 18 months of incorporation. This would mean the company's first AGM would have to be held on or prior to 6 October 2005. To facilitate a single AGM being held for the 2004 and 2005 years, an application to extend the time to hold the first AGM to 30 November 2005 was lodged and has been approved by ASIC.

For further information:

Contact:	Anthony Damianos
	Executive Director & CEO

+612 8908 5988
+612 8908 5977
mail@australismining.com.au