IONDRIVE LIMITED — Capital/Financing Update 2007

Feb 11, 2007

12 February 2007

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

Dear Sir

Record Date for Priority Allocation of Shares in Southern Uranium Limited

The directors of Southern Gold Limited advise that shareholders of Southern Gold Limited recorded on the share register as at close of business on Monday 12^th February 2007, shall be entitled to a priority allocation, upon subscription, of shares in Southern Uranium Limited in its Initial Public Offer.

Yours Faithfully

Michael Billing Director

Phone: 08 8295 5779

facsimilie 08 8132 0199