CONNECTED MINERALS LIMITED — Capital/Financing Update 2008

Jun 2, 2008

Acclaim Exploration NL ABN 99 009 076 233

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000001 000 1301011221012102012221332120133322113 SAM MR JOHN SMITH 1 FLAT 123 123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Please return completed form to: Computershare Investor Services Pty Limited GPO Box D182 Perth Western Australia 6840 Australia Enquiries (within Australia) 1300 557 010 (outside Australia) 61 3 9415 4000 Facsimile 61 8 9323 2033 web.queries@computershare.com.au www.computershare.com

Securityholder Reference Number (SRN)

I1234567890

I 1234567890 I N D

Use a black pen. Print in CAPITAL letters inside the grey areas.

A B C 1 2 3

Option Expiry Notice

Options exercisable at A$0.05 expiring at 5pm WST on 30 June 2008

	Optionholder Entitlement details	Optionholder Entitlement details	Optionholder Entitlement details
	Subregister		Issuer
	ASX Code		AEXO
	Number of Options registered in your name Amount payable on full exercise of Options at A$0.05 per Option	X,XXX,XXX.XX XXX,XXX,XXX
	Number of Shares to be issued		XXX,XXX,XXX

Dear Optionholder(s)

You are reminded that the Options to subscribe for Shares in the capital of Acclaim Exploration NL registered in your name expire on 30 June 2008. These Options are exercisable wholly or in part by the payment of A$0.05 for each option exercised. Payment has to be received at the address overleaf, by 5pm WST on 30 June 2008. For every one option exercised, the optionholder will be allotted Shares in the capital of Acclaim Exploration NL.

Options not exercised by 5pm WST on 30 June 2008 will lapse.

To be completed by Optionholder

B Number of Options to be exercised C Amount enclosed at A$0.05 per Option A$

.

I/We enclose my/our payment for the amount shown above being payment of A$0.05 per Option. To the Directors

Acclaim Exploration NL

I/We the abovenamed being the registered holder(s) of the options, hereby exercise my/our option for Shares in Acclaim Exploration NL and I/we request you allot such Shares to me/us and I/we agree to be bound by the Constitution of the Company.

Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL

Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL	Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL	Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL	Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL	Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL	Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL	Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL	Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL	Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL	Cheque details - Make your cheque or bank draft payable to Acclaim Exploration NL
D BSB Number Account Number Drawer Amount of cheque A$ Cheque Number BSB Number Account Number Drawer Amount of cheque A$ Cheque Number
									A$

Sign Here - This section must be signed for your instructions to be executed

E	Individual or Optionholder 1	Individual or Optionholder 1		Optionholder 2		Optionholder 3
	Sole Director and Sole Company Secretary			Director		Director/Company Secretary

The directors reserve the right to make amendments to this form where appropriate. Please refer to the lodgement instructions overleaf.

This form may not be used to effect an address change. Please contact Computershare Investor Services Pty Limited on 1300 557 010 for an appropriate form, or download a Change of Address Notification form from www.computershare.com

See back of form for completion guidelines

A E X O E N

055143_00QS8A

How to complete this form

Exercise of your Options in full or part

A Registration Name(s) Your name and address as it appears on the Register of Acclaim Exploration NL. B Options Exercised

Enter the number of Options you wish to exercise.

C	Exercise Monies
	Enter the amount of exercise monies. To calculate the amount payable,
	multiply the number of Options exercised by the exercise price.
D	Payment

Make your cheque or bank draft payable to Acclaim Exploration NL in Australian currency and cross it Not Negotiable. Your cheque or bank draft must be drawn on an Australian Bank.

Complete the cheque details in the boxes provided. The total amount must agree with the amount shown in box C.

Cheques will be processed on the day of receipt and as such, sufficient cleared funds must be held in your account as cheques returned unpaid may not be re-presented and may result in your Expiry Notice being rejected. Paperclip (do not staple) your cheque(s) to the Options Expiry Notice where indicated. Cash will not be accepted. Receipt for payment will not be forwarded .

E Signature(s)

You must sign the form as follows in the space provided:

Joint holding: where the holding is in more than one name all of the securityholders must sign.

Power of Attorney: to sign under Power of Attorney, you must have already lodged this document with the registry. Alternatively, attach a certified copy of the Power of Attorney to this form when you return it.

Deceased Estate: all executors must sign and, if not already noted by the registry, a certified copy of Probate or Letters of Administration must accompany this form. Companies: this form must be signed by either 2 Directors or a Director and a Company Secretary. Alternatively, where the company has a Sole Director and, pursuant to the Corporations Act, there is no Company Secretary, or where the Sole Director is also the Sole Company Secretary, that Director may sign alone. Delete titles as applicable.

This is an important document and requires your immediate attention. If you are in any doubt as to how to deal with it, please consult your Financial or other Professional Advisor.

Lodgement of Notice

Option Expiry Notices must be received by Computershare Investor Services Pty Limited Perth by no later than 5pm WST on 30 June 2008. You should allow sufficient time for this to occur. Return the Option Expiry Notice with cheque(s) attached to:

Computershare Investor Services Pty Limited GPO Box D182 PERTH WA 6840

Neither Computershare Investor Services Pty Limited nor the Company accepts any responsibility if you lodge the Option Expiry Notice at any other address or by any other means.

Privacy Statement

Personal information is collected on this form by Computershare Investor Services Pty Limited (“CIS”), as registrar for securities issuers (“the issuer”), for the purpose of maintaining registers of securityholders, facilitating distribution payments and other corporate actions and communications. Your personal information may be disclosed to our related bodies corporate, to external service companies such as print or mail service providers, or as otherwise required or permitted by law. If you would like details of your personal information held by CIS, or you would like to correct information that is inaccurate, incorrect or out of date, please contact CIS. In accordance with the Corporations Act 2001, you may be sent material (including marketing material) approved by the issuer in addition to general corporate communications. You may elect not to receive marketing material by contacting CIS. You can contact CIS using the details provided on the front of this form or e-mail privacy@computershare.com.au

Recent Share Prices on Australian Stock Exchange

Latest available market sale price of the Shares was A$0.024 on 23 May 2008. Highest sale price during the 3 months preceding 23 May 2008 was A$0.027 on 14 May 2008. Lowest sale price during the 3 months preceding 23 May 2008 was A$0.01 on 11 April 2008.

Last trading day of Options on the Australian Stock Exchange will be on 23 June 2008.

If you have any enquiries concerning your Option holding, please contact Computershare Investor Services Pty Limited on 1300 557 010.

Please return the completed form in the Computershare Investor Services Pty Limited GPO Box D182 envelope provided or to the address opposite: Perth Western Australia 6840 Australia

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