CORE ENERGY MINERALS LTD — Capital/Financing Update 2004

Jul 20, 2004

14th Floor, 145 Eagle St Brishane, Q114010

CPO Rox 996 Brisbane, Qid 4001

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21 July 2004

TO: Australian Stock Exchange Limited

SECTION 708A NOTICE

The Company hereby provides Notice to the ASX under section 708A(5)(e) of the Corporations Act 2001 that the Company has issued 2,760,000 ordinary shares, each fully paid, without disclosure to investors under Part 6D.2 of the Corporations Act, on 21 July 2004.

As at the date of this notice the Company has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the Company and with section 674 of the Corporations Act.

The Company is not aware of any excluded information for the purposes of section 708A(6)(e) at the date of this Notice.

Bill Lyne Director / Company Secretary