GREENWING RESOURCES LTD — Capital/Financing Update 2008

Jan 2, 2008

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3 January 2008

The Manager Companies Australian Stock Exchange 20 Bridge Street SYDNEY NSW 2000

Dear Sir

LAPSE OF 31 DECEMBER 2007 UNLISTED OPTIONS

Please be advised 50,000 unlisted options with an exercise price of $0.25, 350,000 unlisted options with an exercise price of $0.30 and 350,000 unlisted options with an exercise price of $0.35 expired on 31 December 2007. These options were not exercised prior to their expiry date of 31 December 2007 and as such have been cancelled by the Company.

Yours sincerely

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Susan Hunter Company Secretary

Suite 5/2 Richardson Street WEST PERTH WA 6005 PO Box 1330 WEST PERTH WA 6872 Telephone (08) 9322 8044 Facsimile (08) 9481 2846 www.bassmetals.com.au