IODM LIMITED — Capital/Financing Update 2010

Nov 2, 2010

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3 November 2010

Company Announcements Office Australian Securities Exchange Level 4, Exchange Centre 20 Bridge Street Sydney NSW 2000

Placement and Section 708A Notice

The Company advises that, as foreshadowed in its announcement of 26 October 2010, it has placed to clients of Taylor Collison Limited 7,000,000 ordinary fully paid shares at 3 cents per share and, for each 2 shares, 1 free unlisted option expiring on 30 November 2012 entitling the holder to subscribe for and be issued 1 ordinary fully paid share on payment of 10 cents (“the Securities’).

In relation to the Securities, the Company gives this Notice in accordance with section 708A(5)(e) of the Corporations Act 2001(“the Act”):

(a) The Company issued these Securities without disclosure to investors under Part 6D.2 of the Act; and

(b) As at the date of this Notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company and section 674 of the Act; and

(c) There is no information that is excluded information as at the date of this Notice for the purposes of subsections 708A (7) and (8) of the Act.

Yours faithfully

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Stephen J Lonergan Company Secretary

Paradigm Metals Ltd ABN 28 102 747 133 Suite 202, 122 Walker Street, North Sydney, AUSTRALIA 2060 Ph: +61 (2) 9955-7130 Fax: +61 (2) 8920-3576 E-mail: info@paradigmmetals.com.au