COKAL LIMITED — Capital/Financing Update 2007

Sep 16, 2007

ASX CODE: ABU

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17 September 2007

ASX ANNOUNCEMENT / MEDIA RELEASE

ABM Resources Announces Farm In to its Gascoyne Base Metals Prospect

ABM Resources NL and Altera Capital Limited are pleased to announce they have signed a Joint Venture Agreement for Altera Capital to explore the base metal licenses M09/62, E09/1074 and E09/1266 ABM holds in the Gascoyne region.

The agreement is subject to Altera Capital completing a capital raising of at least $2.5 million and Altera Capital fully paid ordinary shares being released from suspension from trading on the official list of ASX.

Earn In Period

The Parties have agreed that, subject to satisfaction of the conditions contained in the Agreement, Altera Capital may acquire a 65% Participating Interest in the Mining Tenements by:

• (i) issuing ABM Resources 250,000 fully paid ordinary shares in the capital of Altera Capital (Shares) on the Execution Date; and

• (ii) sole funding Exploration on the Mining Tenements to a cumulative total of $1,000,000 (Expenditure Requirement) by the Expenditure Date.

The tenements cover 130 sub blocks (approximately 375 sq kms) an estimated 100 km north of Gascoyne Junction. The licenses cover high metamorphic grade sediments and granitoids of mid Proterozoic age. This region was explored in 2004 by BHP Billiton as part of a joint venture with ABM Resources NL.

BHP Billiton had discovered gahnite (a zinc spinel which is often a pathfinder mineral to Broken Hill type mineralisation) in numerous locations in the district. Follow up reconnaissance identified a few lead zinc copper anomalies in soil and rock chip samples of subsequent gravity survey anomaly to BHP Billiton’s satisfaction and the joint venture was terminated.

In this last year ABM Resources NL completed a detailed (10 m spaced flight lines) airborne magnetometric survey over 140 sq km area of the project. Interpretations indicate a sequence of sediments and possible mafic volcanic rocks with minor granitoids intrusions. Also present are discrete but stratigraphically controlled anomalies some of which are nearby to some of the previously mentioned rock geochemical anomalies.

For further information contact:

Imants Kins Executive Chairman

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