EML PAYMENTS LIMITED — Capital/Financing Update 2009

Feb 24, 2009

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Wednesday, 25 February 2009

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

TERMINATION OF SHARE PLACEMENT AGREEMENT

The directors of Australasia Gold Limited (ASX:AAO) advise that notwithstanding the approval of the issue of shares at AAO’s Annual General Meeting on 23[rd] December 2008, the consortium which agreed to make the previously advised placement of 50 million shares has failed to provide the Company with the remaining amount of the funds ($740,000). As a result AAO today terminated the placement agreement.

The directors of AAO will immediately explore other fundraising opportunities and keep ASX informed of any developments.

For further information contact Trevor Ireland, (08) 8339 0580 tireland@australasiagold.com.au