CODEIFAI LIMITED — Share Issue/Capital Change 2005

Jun 15, 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 16th June 2005 One Page

ASX Code: AUV

LISTING RULE 3.10A - RELEASE FROM ESCROW

We advise that during the period from 1 July 2005 until 31 July 2005, that 4,387,500 shares and 6,581,250 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	Number of Options,
	Ordinary Shares	dated 31 December 2006
$2$ July $2005$	600,000	900,000
14 July 2005	250,000	375,000
20 July 2005	500,000	750,000
22 July 2005	600,000	900,000
23 July 2005	475,000	712,500
27 July 2005	125,000	187,500
28 July 2005	900,000	1,350,000
30 July 2005	137,500	206,250
Total released July 2005	4,387,500	6,581,250
Remaining on escrow as at 31 July 2005	53,687,501	5,531,250
Released from escrow in previous months	4,775,000	7,162,500
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