CONNECTED MINERALS LIMITED — Capital/Financing Update 2003

Dec 8, 2003

9 December 2003

Australian Stock Exchange Limited Company Announcements Office 20 Bridge Street SYDNEY NSW 2000

Via e-lodgement

Placement Completed

The Directors of Acclaim Exploration NL ("Company") are pleased to advise that the placement of shares announced on 1 December 2003 has been completed.

An appendix 3B in respect to the issue of shares is attached.

The company advises that, in accordance with paragraph (5) of Category 1 of Australian Securities and Investments Commission Class Order CO 02/1180, all information of the kind that would be required to be disclosed under subsection 713(5) of the Corporations Act 2001, if a prospectus were to be issued in reliance on section 713 of the Corporations Act in relation to an offer of the securities, has been disclosed to ASX.

N J Bassett Company Secretary

Registered Office:

Appendix 3B

New issue announcement. application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Acclaim Exploration NL

ARN 99 009 076 233

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{I}$ ⁺Class of ⁺securities issued or to be issued

Ordinary fully paid shares

• $\mathcal{D}$ Number of ⁺securities issued or to be issued (if known) or maximum number which may be issued
• 3 Principal terms of the *securities (eg, if options, exercise price and $expirv$ date: if partly paid *securities, the amount outstanding and due dates for payment; if securities. *convertible the conversion price and dates for conversion)

50,300,000 ordinary fully paid shares

Pari passu with existing ordinary fully paid shares.

Registered Office:

$\overline{4}$ Do the *securities rank equally in all respects from the date of allotment with an existing "class of quoted *securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they $\sim$ participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

5 Issue price or consideration

Purpose of the issue 6 (If issued as consideration for the acquisition of assets, clearly identify those assets)

To provide funds to strengthen the financial position of the Company, to fund future exploration programmes in relation to the Company's existing projects, and to provide working capital for the conduct of the Company's current and future activities, in particular to fund proposed exploration and drilling programmes on the Company's Claude Hill tenements.

$\overline{7}$ Dates of entering *securities into uncertificated holdings or despatch of certificates

9 December 2003

5 cents per share

⁺Class Number $\overline{8}$ Number and *class of all 385,757,699 Ordinary Shares *securities quoted on ASX 212,928,535 30/4/2004 Options (including the securities in clause 40.000.000 Partly Paid Shares, 2 2 if applicable) cents unpaid

⁺ See chapter 19 for defined terms.

-9	Number and + class of all *securities not quoted on ASX (including the securities in clause	Number 8,000,000	+ Class Options exercisable at 25 cents expiring on 8/10/05
	2 if applicable)
10	Dividend policy (in the case of a $ N/A$

Part 3 - Quotation of securities

trust, distribution policy) on the increased capital (interests)

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• Securities described in Part 1 $(a)$ $\bar{\mathbf{x}}$
• $(b)$ All other securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the *securities are *equity securities, the names of the 20 largest holders of the additional *securities, and the number and percentage of additional *securities held by those holders
• 36 If the *securities are *equity securities, a distribution schedule of the additional *securities setting out the number of holders in the categories $1 - 1,000$ $1.001 - 5.000$ $5.001 - 10.000$ $10.001 - 100.000$ 100,001 and over

37

A copy of any trust deed for the additional *securities

⁺ See chapter 19 for defined terms.

Ouotation agreement

• $\mathbf{1}$ $\pm$ Ouotation of our additional $\pm$ securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the *securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the "securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the $\bullet$ Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the "securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• $\overline{\mathbf{3}}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim. action or expense arising from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by this form. If any $\overline{4}$ information or document not available now, will give it to ASX before +quotation of the "securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here: N J Bassett Company secretary Date: 9 December 2003

Print name: Neville John Bassett

$= 10$

Registered Office: