HASTINGS TECHNOLOGY METALS LTD — Capital/Financing Update 2011

Mar 8, 2011

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(to be renamed Hastings Rare Metals Ltd)

9 March 2011

The Manager Company Announcements Office Australian Securities Exchange 4th Floor, 20 Bridge Street SYDNEY NSW 2000

Notice under Section 708A

On 9 March 2011, Augustus Minerals Limited (to be renamed Hastings Rare Metals Ltd ) ( Company ) completed the issue of 12,500,000 fully paid ordinary shares ( Shares ) as part consideration for the acquisition of Hastings Rare Metals Pty Ltd as announced to the ASX on 7 December 2010 and approved at the General Meeting held on 4 March 2011. The Shares are part of a class of securities quoted on the Australian Securities Exchange.

The Corporations Act 2001 (the Act ) restricts the on-sale of securities issued without disclosure, unless the sale is exempt under Section 708 or 708A of the Act. By giving this notice, sale of the Shares will fall within the exemption in Section 708A(5) of the Act.

The Shares were issued without disclosure to investors under Part 6D.2 of the Act, in reliance on Section 708A(5).

The Company gives this notice pursuant to Section 708A(5)(e) of the Act.

The Company, as at the date of this notice, has complied with:

(a). the provisions of Chapter 2M of the Act as they apply to the Company; and (b). Section 674 of the Act.

As at the date of this notice, there is no excluded information for the purposes of Section 708A(7) or 708A(8) of the Act.

Yours faithfully

MATHEW WALKER EXECUTIVE DIRECTOR

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Address Suite 9, 1200 Hay St, West Perth WA 6005 Postal Address PO Box 281, West Perth WA 6872 Telephone + 61 (8) 6460 4960 Facsimile + 61 (8) 9324 3045 Email admin@augustusminerals.com.au Website www.augustusminerals.com.au ABN 43 122 911 399