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CONNECTED MINERALS LIMITED Capital/Financing Update 2003

Jan 22, 2003

64669_rns_2003-01-22_5dcb99b2-4742-4f37-902b-125550eb9f8c.pdf

Capital/Financing Update

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ACCLAIM EXPLORATION NL ABN 99 009 076 233

23 January 2003

The Company Announcements Office Australian Stock Exchange Limited 4 Floor 20 Bridge Street SYDNEY NSW 2000

PROSPECTUS DATED 15 OCTOBER 2002

Capital Raising Allotment of Shares and Options

Pursuant to the new issue announcement and the Prospectus dated 15 October 2002 the company has today allotted 300,000 Shares and 150,000 Options at an issue price of \$0.035 each on application which raised \$10,500.

Extension of Offer Closing Date

The company advises that the Offer Closing Date for the Prospectus dated 15 October 2002 has been extended to 28 February 2003.

Yours faithfully

B R Matich Managing Director