EML PAYMENTS LIMITED — Capital/Financing Update 2007

Oct 22, 2007

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Tuesday, 23 October 2007

Company Announcements Office Australian Stock Exchange Limited 20 Bridge St SYDNEY NSW 2000

AUSTRALASIA GOLD SELLS NSW TENEMENT

• New South Wales Exploration Licence (EL) 6040 sold for $150,000 cash

• 1.0% royalty over the value of future production

The directors of Australasia Gold Limited are pleased to announce the exercise of an option for the purchase of its EL 6040 Lucknow (situated near Orange, New South Wales).

Australasia Gold will receive $150,000 cash in exchange for the tenement. The Company is also entitled to a 1.0% royalty on the value of any future production from the area of the tenement.

The funds will be released to the Company upon completion of the transfer of the title to the purchaser.

For more information please contact Trevor Ireland 08 8339 0580 tireland@australasiagold.com.au