CONNECTED MINERALS LIMITED — Capital/Financing Update 2006

Dec 4, 2006

ACCLAIM EXPLORATION N.L.

ABN 99 009 076 233

5 December 2006

Companies Announcements Office Australian Stock Exchange Limited 20 Bridge Street Sydney NSW 2000

Allotment of Shares

The company is pleased to announce that it has completed the placement of 75,000,000 ordinary fully paid shares, as announced on 25 October 2006. The issue of 75,000,000 free attaching options exercisable at 5 cents each and expiring on 30 June 2008, is subject to shareholder approval. The placement was made to sophisticated investors through Aegis Partners Limited. Subject to shareholder approval, the company has also accepted applications for a further 6,000,000 shares (together with free attaching option), raising an additional \$180,000.

The placement of 75,000,000 shares has raised an amount of \$2,250,000 to be used for the ongoing development of the Denny Dalton Uranium & Gold Project in Kwazulu Natal. South Africa.

The Company gives this notice pursuant to Section 708A(5) of the Corporations Act 2001 ("the Act").

The shares were issued without disclosure to investors under Part 6D.2, in reliance of Section 708A(5) of the Act.

The Company, as at the date of this notice, has complied with:

• the provisions of Chapter 2M of the Act as they apply to the Company; and $(a)$
• Section 674 of the Act. $(b)$

As at the date of this notice, there is no 'excluded information' (as defined in Section 708A(7) and (8) of the Act), required to be disclosed by the Company.

Yours faithfully

Neville J Bassett Secretary