CONNECTED MINERALS LIMITED — Capital/Financing Update 2009

Jul 29, 2009

ACCLAIM EXPLORATION N.L. ABN 99 009 076 233

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30[th] July 2009

Companies Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

Acquisition of Royalty Stream

The Directors of Acclaim Exploration NL (“ AEX ”) are pleased to announce that the company has entered into a Binding Term Sheet with Arturus Capital Limited (“ AKW ”), to acquire the right title and interest to a 12% (15% of 80%) royalty stream over shallow gas projects located in Jackson County, Texas, USA. AKW holds the right title and interest to 80% of all income in relation to the projects.

Your directors believe that the acquisition of this royalty stream will provide significant US dollar income going forward from producing wells.

Key terms of the acquisition are:

• Property : An assignment of 15% of AKW’s income (“Royalty Stream”) derived from all of the shallow gas projects from time to time located on the lands known as the Sandy, Slazenger and Wagner Prospects in Jackson County, Texas, USA.

• Consideration : US$1.5 million comprising:

  • US$100,000 payable on execution of the binding term sheet;

  • US$1,000,000 payable on 7[th] August 2009; and

  • The balance to be paid with 60 days from execution.

• Term: For the life of the Projects

• Expansion Projects : AKW may from time to time request that AEX provide further funding for any expansion to the Projects (including further test drilling). AEX may accept or reject any such request in its absolute discretion.

The acquisition of the royalty stream is subject to:

• (i) completion of due diligence to the satisfaction of AEX; and

• (ii) AEX shareholder approval.

Full details of the acquisition will be provided in the explanatory memorandum to shareholders.

The company is continuing to actively pursuing other project opportunities.

Yours faithfully

N J Bassett Company Secretary

Suite B 150 Hay St Subiaco Western Australia 6008 Telephone: + 61 8 9388 8436 Facsimile: + 61 8 9388 8450