CONNECTED MINERALS LIMITED — Capital/Financing Update 2007

Jul 5, 2007

6 July 2007

Companies Announcement Office ASX Limited 20 Bridge Street Sydney NSW 2000

Acquisition Update

The Directors of Acclaim Exploration NL ("Acclaim" or "the Company") advise that due to the vast amount of data and time required to assess and translate the information relating to the acquisition of prospecting rights over the geologically surveyed prefectures of Mali, Siguiri, Mamou, Kindia, Kissidougou, Mandiana, and N'Zerekore in Guinea, as announced on 13 June 2007, the Company has been granted an extension of the due diligence period until 19 July 2007.

Acclaim has engaged qualified professionals to generate a report on the most prospective areas of interest. Mr Bagirathi, the Company's Managing Director and based in South Africa, is coordinating the team during the due diligence period.

As previously advised, following completion of due diligence, Acclaim will proceed with negotiation of final terms of the acquisition.

The Company also advises that following continual delays on receipt of drill results from the Denny Dalton drill programme, the Company's exploration consultant CCIC has formally informed the Company that these results are now imminent.

Yours Sincerely

Neville Bassett Company Secretary