DIGITALX LIMITED — Board/Management Information 2008

Jul 24, 2008

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ABN 59 009 575 035 22 July 2008 ASX/Media Release

SHAREHOLDER UPDATE

Dear Verus Shareholder,

I would like to take this opportunity to provide you with an update of the recent changes within your company and an explanation of the company’s strategic focus.

Firstly, I would like to introduce the new look board of directors. Over a number of months, a number of board positions have changed and this reflects somewhat the changing focus of the company.

Last year, Mr David Calcei was appointed as a non-executive director. David is an experienced and highly regarded finance professional based in Perth, Western Australia who is a director of Icon Financial Management. Additionally, Mr Greg Lee was appointed as a non-executive director. Greg is a Chartered Professional Engineer with an extensive background in the oil and gas sector, having worked in all corners of the globe.

This year saw the appointment of Mr Mick Montgomery as Executive Director and myself as non-executive director. Subsequently, Dean Gallegos who had been chairman of Verus for a number of years, resigned to pursue alternate interests and I accepted the role of Chairman.

Mick is an experienced geologist, having worked in numerous countries with exposure to most commodities. He was previously Exploration Manager for KCGM – operators of the Super Pit in Kalgoorlie, Western Australia. Importantly, he is qualified and regarded as a “Competent Person” under the AusIMM JORC code and will be instrumental in overseeing the performance of investee companies. I am a mining engineer with 25 years experience in mine development and operations and the corporate sector.

With the fundamental belief from the newly formed board of the “Stronger for longer” commodities cycle, a strategy was developed to seek alternate investment opportunities within the sector. Coupled with this, was the specific intention to target investments in regions or countries where there was the potential to be regarded as a “first mover”.

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ABN 59 009 575 035

STRATEGIC FOCUS – BRASILIAN INVESTMENT

The Brazilian investment opportunity was selected on the basis of a number of criteria. These included:

• A country highly endowed with mineral resources;

• A developed regulatory environment;

• A politically stable country amenable to foreign investment;

• A well developed commodity ‘services’ structure;

• Ease of investment; and

• Potential to gain access to a variety of commodities.

As you may be aware, Verus has made initial investments in 3 properties. These investments are structured such that over a period of time (up to 3 years) intensive geological exploration can be undertaken prior to final purchase. Verus’ investments are with a wholly owned Brazilian company that holds option agreements over these properties, within which, the final terms of acquisition have been agreed. Importantly, this provides Verus with a known, fixed cost entry.

The three target properties, which have been described in some detail in previous market announcements, provide Verus with a broad opportunity, whilst spreading the risk over both commodity and region.

Nickel potential exists at both Itaguara and Alpinopolis.

Itaguara lies approximately 80 kilometres south west of Belo Horizonte in the State Minas Gerais and covers some 12,000 hectares. This property is a very early stage project with potential to host targets akin to “Kambalda style” mineralisation. It is envisaged that the satellite imagery and detailed mapping work currently underway will quickly identify targets that warrant follow up. These targets would require further detailed geological work, including drilling, to bring them to a level where mineral resources could be quoted. The next 6 months will see the completion of this preliminary work program.

Alpinopolis, some 290 kilometres SW of Belo Horizonte, is interesting in that it lies in proximity to the operating Forteleza Nickel Mine. The current work program, which also includes satellite imagery and detailed field mapping, is intended to identify if similar geological settings which host the Forteleza operation occur within the Alpinopolis option area (approx 40,000 hectares).

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The most exciting prospect at this early stage is Eloi where the area of interest (of some 13,000 hectares) is approximately 60 kilometres inland from Natal in the northern state of Rio Grande do Norte. This highly prospective area, which has essentially never been explored in any sophisticated or systematic fashion, has the potential to host an iron ore deposit. Initial field work conducted to date has been highly encouraging warranting drill follow up. Drill contracts have been negotiated and drilling will commence almost immediately.

Although the current equity market has not been kind to most investors, the Verus board of directors believe that the strength in resources will prevail.

Verus has established a comprehensive investment program, underpinned by prudent expenditure forecasts, which will be used to underpin further investment opportunities. The development of relationships within Brazil and particularly through the companies invested in have already provided a number of additional opportunities within the country. Gaining exposure to gold is certainly a key item on the agenda.

Finally, Verus has developed a website at www.verus.com.au. I would encourage you to visit this site as it contains a considerable amount of information regarding your company. Additionally, I would also request that you use the facility to register your email details. This is a simple step that ensures we can provide you with timely information in relation to the company. It goes without saying, however, that if you have any comments or would like to discuss any aspect of Verus and its performance, please feel free to contact us.

I look forward to being involved in the future development of Verus and sincerely hope that we can enjoy the company’s success together.

Yours sincerely,

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Andrew McIlwain Chairman

Office Address: Ground Floor, 30 Ledgar Road, Balcatta, Western Australia 6021 Postal Address: PO Box 717, Balcatta, Western Australia 6914 Phone: +61 (0)8 9240 2836 Fax: +61 (0)8 9240 2406 Email: info@verus.com.au Web: www.verus.com.au

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