DEVEX RESOURCES LIMITED — Capital/Financing Update 2013

Apr 9, 2013

10 April 2013

Companies Announcements Office ASX Limited 200 Bridge Street SYDNEY NSW 2000

Dear Sir or Madam

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NOTICE UNDER SECTION 708AA OF THE CORPORATIONS ACT 2001 (Cth)

Uranium Equities Limited ( Company ) today announced a non-renounceable rights issue to shareholders whose registered addresses are in Australia and New Zealand who are registered at 5.00pm (ACST) on Wednesday, 24 April 2013 ( Eligible Shareholders ), on the basis of 1 fully paid ordinary share ( New Share ) for every 3 fully paid ordinary shares held (an Entitlement ), at an issue price of 2.5 cents per share to raise a total of approximately $2.2 million (before costs) ( Rights Issue ).

In accordance with section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ), the Company gives notice that:

1. The Company will offer the New Shares for issue without disclosure to investors under Part 6D.2 of the Corporations Act.

2. The Company is giving this notice under section 708AA(2)(f) of the Corporations Act.

3. As at the date of this notice, the Company has complied with:

   • (a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • (b) section 674 of the Corporations Act.

4. As at the date of this note, there is no information:

   • (a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

   • (b) that investors and their professional advisers would reasonably require, and would reasonably expect to find in a disclosure document, for the purpose of making an informed assessment of:

     • (i) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

     • (ii) the rights and liabilities attaching to the New Shares.

5. The issue of the New Shares may affect the control of the Company. The potential effect the Rights Issue will have on the control of the Company, and the consequences of that effect, will depend on a number of factors, including investor demand. However, given the structure of the Rights Issue as a pro rata issue and the absence of any existing holders with voting power of greater than 20%, the Rights Issue is not expected to have any material effect or consequences on the control of the Company.

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The potential effect of the Rights Issue on the control of the Company is as follows:

• (a) If all Eligible Shareholders take up their Entitlement under the Rights Issue, then the Rights Issue will have no significant effect on the control of the Company.

• (b) If some Eligible Shareholders do not take up all of their Entitlement under the Rights Issue, then the interests of those Eligible Shareholders will be diluted.

• (c) The proportional interests of shareholders with registered addresses outside of Australian and New Zealand will be diluted because such ineligible foreign shareholders are not entitled to participate in the Rights Issue.

• (d) Eligible Shareholders that apply for additional shares under the Top-up Facility may increase their interests beyond their Entitlement. This could result in the dilution of holdings of those who failed to accept their Entitlements in full and those who failed to apply for additional New Shares.

• (e) All directors of the Company intend to fully take up their Entitlements under the Rights Issue and may increase their interests beyond their Entitlements if no other Eligible Shareholders participate in the Rights Issue and the Directors of the Company do not issue any of the shortfall under the Rights Issue.

• (f) If no Eligible Shareholders other than the directors of the Company take up their Entitlements under the Rights Issue and the Company issues the shortfall under the Rights Issue to only a limited number of new investors, this may potentially result in a new investor having a substantial interest in the Company.

The table below sets out the potential impact of the Rights Issue on the capital structure of the Company:

Issued Shares	Number of Shares
Total issued capitalat the date ofthis announcement	264,646,294
Number of New Shares offered under the RightsIssue	88,215,431
Total issued capital at completion of Rights Issue(assuming all NewShares areissued)	352,861,725

Yours faithfully

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Rolf Heinrich Company Secretary

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