CONNECTED MINERALS LIMITED — Capital/Financing Update 2003

Aug 11, 2003

Acclaim Exploration NL

ABN 99 009 076 233

12 August 2003

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

Via e-lodgement

Placement

The company is pleased to advise that it has completed a placement of 43,755,000 ordinary fully paid shares at 1.5 cents per share to raise \$656,325, before expenses of the issue. The placement has been completed to fund working capital and to progress the Claude Hills exploration programme.

Please find attached an Appendix 3B in relation to the share issue.

Class Order

In accordance with ASIC Class Order 02/1180, the Company advises that there is no information to disclose of that kind that would be required to be disclosed under sub-section 713(5) of the Corporations Act, if a Prospectus were to be issued in reliance of section 713 in respect of the issue.

N J Bassett Company Secretary

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

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

ABN

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 Ordinary fully paid shares issued

$\overline{2}$ Number of $\pm$ securities issued or to be issued (if known) or maximum number which may be issued

Principal terms of the *securities 3 (eg, if options, exercise price and date; if partly expiry paid ⁺securities, the amount outstanding and due dates for payment; if *convertible securities, the conversion price and dates for conversion)

43,755,000 ordinary fully paid shares

Pari passu with existing ordinary fully paid shares.

⁺ See chapter 19 for defined terms.

Acclaim Exploration NL

ABN 99 009 076 233

Do the *securities rank equally in all $\overline{4}$ Yes 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 $\bullet$
• the extent to which they 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

Issue price or consideration 5

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

1.5 cents per share

To fund working capital and to progress the Claude Hills exploration programme.

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

12 August 2003

8 Number and ⁺class of all *securities quoted on ASX (including the securities in clause 2 if applicable)

Number	+ Class
335,457,699 212,928,535 40,000,000	Ordinary Shares 30/4/2004 Options Partly Paid Shares, 2 cents unpaid

$+$ See chapter 19 for defined terms.

• Number $\ddot{Q}$ Number ⁺class of all 8.000.000 and *securities not quoted on ASX (including the securities in clause 2 if applicable)
• $10^°$ Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

$\rm N/A$

^*Class

8/10/05

Options exercisable at

25 cents expiring on

Part 3 - Quotation of securities

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

$34$ Type of securities $(iick one)$

$(b)$

• Securities described in Part 1 $(a)$ $\overline{\mathbf{X}}$
• 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 If the *securities are *equity securities, a distribution schedule of the additional 36 *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 A copy of any trust deed for the additional "securities 37

$+$ See chapter 19 for defined terms.

Acclaim Exploration NL

ABN 99 009 076 233

Ouotation agreement

• $\mathbf{1}$ *Quotation of our additional *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 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.
• 1. 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.
• $\overline{4}$ We give ASX the information and documents required by this form. If any 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: ...................................... Company secretary

Print name:

Neville John Bassett

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⁺ See chapter 19 for defined terms.