EXCITE TECHNOLOGY SERVICES LTD — Interim / Quarterly Report 2009

Aug 10, 2009

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11 August 2009

AMENDED QUARTERLY ACTIVITIES REPORT ENDING 30 JUNE 2009

In the Company’s Quarterly Activities Report dated 31July 2009, the Company referred to: "pre-JORC target mineralisation..…at Bolitho Bore..." and "historic drilling at the Star of Mangaroon has outlined a resource …..estimated in 1994 down to a vertical depth of 50m."

The Company acknowledges that these statements did not fully comply with Clause 18 of the JORC Code and wishes to amend the announcement as follows:

Lake Mason Project

Prime holds a 100% interest in three exploration licences over which the Lake Mason drainage system has been developed. Previous exploration at Lake Mason has focused on the defined radiometric anomalies within the eastern extremity and northern shore of the main Lake Mason channel within E57/591. The Company is targeting potential calcrete hosted uranium mineralisation of between 1 – 5 million tonnes at a grade between 150-300 ppm uranium at Bolitho Bore. The potential quantity and grade of the target is conceptual in nature and there has been insufficient exploration to define a Mineral Resource, and it is uncertain if further exploration will result in the determination of a Mineral Resource.

However, support for this conceptual target is based on a 1980 aircore drilling program conducted by John F Gilfillan and Associates on behalf of Uranex Pty Ltd. (Refer footnote at end of this report)

In 2007, Prime completed 126 reconnaissance aircore drill holes at Lake Mason (total 1,898 metres), along with downhole radiometric logging. Forty six of the drill holes intersected maximum uranium oxide values greater than 100ppm. Interpretation of the results concluded the mineralisation at Bolitho Bore to be more extensive and of higher grade than previously outlined by the 1980 drilling. The mineralisation remains open particularly to the west and it is likely that additional drilling will extend the known body of mineralisation.

In November 2008 the WA Liberal Government lifted the ban on uranium mining in Western Australia, which together with the historically high uranium prices seen during the year ensures the Lake Mason Project retains significant commercial value. Prime intends to undertake further drilling to fully map the extent of the uranium mineralisation and to upgrade the mineralisation to JORC compliant resource status. (refer to Figure 1 & 2).

Star of Mangaroon

Prime has one exploration licence and one prospecting licence at the historical Star of Mangaroon mine in the Gascoyne province of Western Australia. The Star of Mangaroon gold mine has been the largest historic gold producer in the Gascoyne region. Between 1960 and 1983 it produced 7,464 oz of gold from 5,357 tonnes of ore at an average grade of 34.8 g/t gold. The deposit was discovered in 1956 by the local pastoralist. Most of the

gold produced was mined from underground with the lowest extraction level approximately 90m below surface.

Prime has an exploration target of between 150,000 – 500,000 tonnes at 6 - 10 grams per tonne, down to a depth of 200 metres below surface. The potential quantity and grade of the target is conceptual in nature and there has been insufficient exploration to define a Mineral Resource, and it is uncertain if further exploration will result in the determination of a Mineral Resource.

However, the target grade and model is based on RC drilling between 1987 and 1994 by Balde Exploration Consultants Pty Ltd (28 RC holes) and Welcome Stranger Mining NL (18 RC holes) who planned an open pit to 50 metres below surface. Drilling post 1994 found further mineralisation at a depth of 156 metres below the shallow partly mined high grade shoot. The mineralisation has not been closed off. (Refer footnote at end of this report)

Regional work by the GSWA over the past few years has provided a better understanding of the complex geology, stratigraphy and structural history of the Gascoyne Complex. During the year Prime completed additional review of the project and concluded that the most likely geological model for the gold mineralisation in the Mangaroon area is a shear related stacked system of high grade quartz veins hosted by a variety of highly altered sedimentary and igneous rock types (refer to Figure 3 & 4).

Additional drilling and geophysical surveys are required to better understand the deposit. Prime considers the Star of Mangaroon to retain commercial value and will be reviewing the most appropriate strategy to advance the project.

Barrambie Project

Prime Minerals held through it’s subsidiary Australian Vanadium Corporation Pty Ltd a 100% interest in two exploration licence applications over the highly prospective Barrambie Sill. The Barrambie Sill is host to Reed Resources Limited’s Barrambie vanadium deposit, which has a reserve of 39.7Mt of ore at the high grade of 0.82% V2O5 and an additional 65Mt of vanadium ore in the inferred and indicated resource category.

Geophysical surveys and field sampling undertaken by Prime indicated that the 24 strike kilometres of titaniferous magnetite within Prime’s tenements may have similar grade and potential to those within adjoining Reed Resources tenements.

On 1 September 2008 Prime completed the sale of its subsidiary Australian Vanadium Corporation Pty Ltd to Reed Resources Limited. Australian Vanadium Corporation Pty Ltd held two Exploration Licence Applications E57/742 and E57/743 over the highly prospective Barrambie Sill. Terms of the sale:

• $1m cash

• 2 million ordinary shares in Reed Resources Limited

• 2% Net Smelter Royalty of production from within the relevant tenement area.

Greenland Project

During the year, Prime completed field work activities on site in Southern Greenland. After reviewing the results of the field activities Prime has surrendered their Greenland tenements.

New Projects

Prime Minerals is continuing to evaluate several projects that have the potential to become mines.

Vincent Hyde Chairman Prime Minerals Limited

Phone: +61 8 9315 1815 Fax: +61 8 9315 3299 Email: info@primeminerals.com.au Website: www.primeminerals.com.au

The information in this announcement that relates to geophysical surveys has been reviewed by consultant Geophysicist Mr William Robertson, a Member of the Australian Institute of Geoscientists (MAIG) whose services are provided by Value Adding Geophysics. Mr Robertson has sufficient relevant experience in the styles of mineralisation and types of deposit under consideration, and in the activity he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code), and consents to the inclusion of the information in the form and context in which it appears.

FOOTNOTE: BASIS FOR TARGET STATEMENT FOR BOLITHO BORE

The Bolitho Bore radiometric anomaly was located in 1978 by McIntyre Mines and Canadian Superior Mines group (“CSM”) using ground radiometric surveying on the northern shore of Lake Mason. In 1980, John F Gilfillan and Associates (“Gilfillan”) on behalf of Uranex Pty Ltd , followed up the CSM work with an aircore drilling program of 38 holes (for a total of 384 m). The drilling was undertaken using a Wallis Drilling Co. Pty Ltd truck mounted Gemco H12 machine with a reverse circulation sample recovery system. The mineralisation was reported to cover an area of approximately 180 metres north‐south by 2,000 m east‐west, and was reported to be open to the west. An SIE T450 downhole logger was used for grade determination. Routine check assaying of samples at AMDEL and SGS laboratories was undertaken to check the accuracy of the downhole logging.

Gilfillan reported best uranium intercepts from holes SAM2 (600 ppm U over 1m) and SAM 25 (430 ppm U over 1m).

In the Prime Minerals’ Quarterly Activities Report to the ASX for June 2008 (dated 31 July 2008) the Company reported that uranium anomalies identified from the Company’s detailed low level airborne radiometric survey at Bolitho Bore and surrounding areas were followed up in November 2007 by a scout air core drilling program of 126 vertical holes

The subsequent down‐hole gamma logging showed that 46 of the 126 holes had maximum eU3O8 greater than 100ppm. Gamma probes used by Prime were calibrated at Australian Mineral Development Laboratory's (AMDEL) test pits in Adelaide. The down‐hole gamma logs also showed the Bolitho Bore uranium mineralisation to be developed in layers at a depth of 0 to 6 metres from the surface. This drilling and logging showed the Bolitho Bore uranium mineralisation to more extensive and of higher grade than reported by Uranex and Acclaim, but the drill hole density was insufficient at the time for the calculation of a JORC compliant resource.

FOOTNOTE: BASIS FOR TARGET STATEMENT FOR STAR OF MANGAROON

At least four drilling campaigns have been carried out at the Star of Mangaroon deposit. Three diamond holes were drilled by Westralian Nickel in the early seventies but no detailed records are available apart from the results from hole MDH‐01 which returned an intercept of 5.5m at 17.75g/t gold from 90.83 to 96.38 metres .

In 1987 Balde Exploration Consultants Pty Ltd on behalf of a private syndicate carried out a 28 hole RC drilling programme at the Star of Mangaroon gold mine. All but one drill hole (MA026) tested the down plunge extensions of the main mineralized zone. Several high grade intervals were returned from this programme. Diamond drill hole MDH001, collared at MGA coordinates 372398mE/7359826mN, at a dip of 60° with azimuth 280° returned an interval of 5.5 metres assaying 17.75 g/t gold from 90.8 to 96.3 metres. Balde designed an open pit down to a depth of 30 metres. Falling gold price and corporate troubles led to the break up of the syndicate.

Further RC drilling was carried out at the Star by Welcome Stranger Mining NL (“WSM”) in 1994. Eighteen holes (MA029 to 46) were drilled resulting in a number of additional high grade intercepts.

Subsequently, Fox Resources Ltd completed a seven hole RC drilling programme in March 2003 (STMRC001 to 007) targeting the main lode and also the projected down‐plunge extensions of the shallow mineralization. At a vertical depth of 156m drill hole STMR005 intersected 4m at 3.76g/t gold including a one metre interval at 9.96g/t. This intercept increased the potential for the presence of a much larger mineralised body at least to and potentially below 150 metres below surface.

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