IODM LIMITED — Capital/Financing Update 2009

Apr 5, 2009

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Suite 202, 122 Walker St, North Sydney NSW 2060 Australia

Ph: 02 9955-7130 Fax: 02 8920-3576

Email: info@paradigmmetals.com.au www.paradigmmetals.com.au

6 April 2009

ASX / Media Announcement

North Cadia EL 6588 sold to Gold & Copper Resources

• Paradigm Metals has completed the sale of EL 6588 ‘North Cadia’ to Gold and Copper Resources Pty Ltd (GCR) for an upfront cash payment of $100,000 net to the Company and future cash payments contingent on exploration successes

Paradigm Metals has completed the sale of its exploration licence EL 6588 ‘North Cadia’ near Orange in NSW to Gold and Copper Resources Pty Ltd (GCR). GCR is a privately owned company 50% controlled by Mr Robert Friedland, founder and major shareholder of Ivanhoe Mines Ltd and Ivanhoe Australia Ltd. GCR is exploring for large gold-copper porphyry deposits beneath basalt cover in the region of EL 6588.

The commercial consideration is an upfront cash payment to Paradigm Metals of AUS$150,000, with additional cash payments contingent on the discovery by GCR of a mineral resource of a pre-defined size.

A requirement of the deal with GCR was that a 2% NSR royalty on EL 6588 be removed at the time of sale. The Royalty Holder (originally Paradigm Geoscience Pty Ltd but now 14 individuals following a reorganisation of that Company in 2004) agreed to this cancellation in consideration of payment of $50,000 of the $150,000 received from GCR. As the Directors of the Company are among those 14 individuals, Mr Carman will receive approximately $11,000, Mr Gaskell $2,100 and Mr Lonergan $2,100. These individuals will also be entitled to share in any additional contingent payments which may be made by GCR if there is an appropriate discovery.

For further information please contact: Graham Carman, Managing Director: Ph: 61-2-9955-7130

About Paradigm: Paradigm Metals Ltd (PDM) is a gold, copper and tungsten explorer and developer with its key projects located in the Lachlan Fold Belt of NSW and the Cloncurry region of Queensland

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