CODEIFAI LIMITED — Regulatory Filings 2011

Jul 31, 2011

AUSTRALIS MINING CORPORATION LTD

ACN 108 649 421

SUITE 3, LEVEL 11, 100 WALKER STREET, NORTH SYDNEY, NSW 2060 TELEPHONE: (02) 8908 9444 FACSIMILE: (02) 8908 9490

28 July 2011 AUST0C0R\ASX002

The Company Announcements Platform Australian Securities Exchange SYDNEY NSW 2000

Company Update

Australis Mining Corporation Limited wishes to advise of the activities that it is undertaking to ensure the Company’s continued ASX listing.

The Company has identified a number of activities that it must complete in order to obtain long term growth and as at current date these activities are still in progress.

The Company is currently actively reviewing a number of opportunities with a view to ASX reinstatement that will add to Shareholder value and Company due diligence continues on the proposal to acquire an interest in a coal mining project in the Kalimantan Province of Indonesia.

If the Company decided to pursue this Project then the Board will move to prepare a Heads of Agreement and eventually a Binding Share Sale Agreement. Then the Company will look to obtain Shareholder approval of the project/transaction as it will in effect be a “restructure” involving changes to the corporate structure of the Company.

The Company is not only reviewing this transaction but also any other viable potential Acquisitions, most of which are in the resource sector and the Company will continue to evaluate these opportunities.

The Meeting of Creditors associated with the implemented DOCA that will extinguish creditors’ claims was set to be held in June /July 2011 but delays have been experienced and it is now expected to be held in the fourth quarter of the year.

The Shareholders Meeting to implement a re-capitalisation plan in tandem with the said DOCA is anticipated to take place sixty (60) days after the DOCA is approved by Creditors; so the Company would look to holding this Meeting in November 2011.

A capital raising in tandem with the above-mentioned Shareholder Meeting is expected to proceed to raise sufficient funds to pursue the Indonesian coal mining or alternatively purchase a prospective acquisition, the timing subject to regulatory approval.

Progress is being made on completing all outstanding financial reports which when completed to final draft will be submitted for audit. The priority to complete the audit of the Company’s Financial Reports will shift as the Auditors look to complete the audit work associated with the Publically Listed Entities and it is expected that the final signed audited financials will be completed by the end of November 2011.

AUSTRALIS MINING CORPORATION LTD

2

AUST0C0R\ASX002

The Company is now likely to arrange the work associated with the 2011 year end, including the Audited Annual Report and the holding of an Annual General Meeting; to coincide with the availability of the outstanding financial Reports; which should be by the end of November 2011, the final timing subject to auditor availability.

The Company’s objectives of achieving re-listing to the ASX official list has not altered and the objectives at the moment is to ensure that the administration work is completed in accordance with statutory timeframes and to pursue projects that will have the potential to add Shareholder value.

Anthony Damianos Executive Director