IONIC RARE EARTHS LIMITED — Capital/Financing Update 2009

Nov 3, 2009

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4 November 2009

The Company Announcements Office Australian Securities Exchange

DESPATCH OF RIGHTS ISSUE OFFER DOCUMENT

Further to the Company’s announcement on 23 October 2009 regarding a fully underwritten non-renounceable rights issue to raise approximately $603,059 before costs (“Rights Issue”), The Company confirms that it has completed the despatch of the Rights Issue Offer Document along with the Entitlement and Acceptance Form to shareholders.

Yours faithfully

Ezenet Limited

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Brett Dickson Joint Company Secretary

Ezenet Limited ABN 84 083 646 477 Level 1, 30 Richardson Street, West Perth WA 6005 Telephone: +61 8 9481 2555 Facsimile: +61 9 485 1290