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IONIC RARE EARTHS LIMITED Capital/Financing Update 2014

Mar 18, 2014

65151_rns_2014-03-18_d593124c-4238-4e6b-b182-7424b254f92e.pdf

Capital/Financing Update

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Suite 6, 25 Walters Drive, Osborne Park, WA 6017 PO Box 1767, Osborne Park DC, WA 6916 Perth, Western Australia Tel: +61 (8) 9204 2433 Fax: +61 (8) 9244 7273 Email: [email protected] ASX:AVK

19 March 2014

ASX ANNOUNCEMENT

Oro Verde Acquires Option Over Argentina Projects

Argentina Mining Limited (ASX: AVK) (“AVK” or “the Company”) is pleased to inform shareholders that it has entered into a non binding Memorandum of Understanding (“MoU”) to sell its Cerro Blanco, San Francisco and Amiches projects in the Andean Cordillera of San Juan Province, Argentina to Oro Verde Limited (ASX: OVL).

The MoU envisages that Oro Verde Limited will acquire 100% of the outstanding shares in AVK’s wholly owned Argentine subsidiary Entropy Resources SA which holds options to acquire the projects detailed above. A binding Heads of Agreement is to be executed by 31 March 2014 and Oro Verde Limited will have up to 13 May 2014 to complete Due Diligence. The consideration for the transaction will be finalised in the Heads of Agreement.

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For further information, please contact:

Company Contacts :

Doug Bright – Chairman +61 (8) 9204 2433