CODEIFAI LIMITED — Capital/Financing Update 2005

Apr 12, 2005

AUSTRALIS MINING CORPORATION LIMITED

ACN 108 649 421

Level 35, Suite 3504, 100 Miller Street NORTH SYDNEY, NSW 2060 Phone: (02) 89085988 or Facsimile (02) 8908 5977

Company Announcements Office Australian Stock Exchange Limited Wednesday 13 April 2005 One Page

ASX Code: AUV

LISTING RULE 3.10A - RELEASE FROM ESCROW

We advise that during the period from 28 April 2005 until 28 May 2005, that 3,350,000 shares and 5,025,000 options will be released from restricted security agreements on dates as detailed in the table below. These shares and options were issued to seed investors and were subject to restriction agreements for 12 months from date of issue.

Date of Expiry of Restriction Agreement	Number of Ordinary Shares	Number of Options, dated 31 December 2006
28 April 2005	500,000	750,000
3 May 2005	250,000	375,000
13 May 2005	1,000,000	1,500,000
19 May 2005	750,000	1,125,000
28 May 2005	850,000	1,275,000
Total released April-May 2005	3,350,000	5,025,000
Remaining on escrow as at 31 May 2005	59,500,001	14,250,000
Total initially escrowed	62,850,001	19,275,000

Contact: Anthony Damianos Executive Director & CEO

Telephone:	+612 8908 5988
Facsimile: .	+612 8908 5977
Web:	www.australismining.com.au