LIVIUM LTD — Capital/Financing Update 2008

Aug 25, 2008

ACN 126 129 413

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ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE 26[TH] AUGUST 2008

Midwinter Deals into Bauxite Project

• Option to earn an 80% interest in a Bauxite project situated in Indonesia;

• Conceptual exploration target of up to 350Mt of raw material being highlighted;

• Good quality raw bauxite grades reported from historic drilling, results include;

40% Al2O3, 6% SiO2-R, 14% Fe2O3

Midwinter Resources NL ( ASX: MWN ) (“Midwinter” or “the Company”) is pleased to announce that it has been granted an option to purchase an 80% interest in the Landak Bauxite project (“Landak”) located in north-west Kalimantan, Indonesia.

The Landak Project covers 70,000 hectares of tenure in three General Surveys. The project area is located 160km by sealed road north east of the town and coastal port of Pontianak. The Project area is in a known bauxite province with a planned US$1.5 billion development by the world’s largest alumina producer (UC Rusal) 60km away from Landak at the Tayan Bauxite Project.

Preliminary work carried out by the Vendor has defined four areas with potential for economic bauxite (average grades from sampling of approximately 35% - 40% Al2O3 5% SiO2-R, 15% Fe2O3). A review of this data has resulted in a conceptual exploration target of up to 350Mt of raw material being highlighted. Check sampling was recently completed by Midwinter that confirmed good quality raw bauxite grades at the Anik Prospect at Landak of:

• 40% Al2O3

• • 6% SiO2-R

• 14% Fe2O3

TERMS OF THE AGREEMENT

The Company has an option to acquire 80% interest in the Landak Bauxite Project pursuant to the Deed of Assignment. Under the Deed of Assignment the option to acquire the 80% interest expires on 30 September 2008.

Completion of the Acquisition is subject to and conditional upon:

• (a) Shareholders approving the issue of the Shares and Options to be issued as consideration for the Acquisition, and, if necessary, the transaction under the Agreement, pursuant to the ASX Listing Rules or the Corporations Act; and

• (b) any necessary government and regulatory consents or approvals of the transaction and/or the Agreement being obtained under the laws of Indonesia and Australia.

(together the Conditions Precedent).

The consideration payable for the Acquisition is:

• (1) Option Payment: $50,000 (exclusive of GST) upon the conditions precedent being met, which includes shareholder approval (which is non-refundable);

• (2) Exercise Payment: $250,000 (exclusive of GST), 6,000,000 shares and 5,000,000 options immediately after the exercise date with a further $100,000 (exclusive of GST) payable within 12 months of the exercise date.

The Vendors’ 20% interest in the Landak Project will be free carried to completion of a feasibility study.

• (3) JORC Payment: In the event that a JORC compliant resource of at least 50 million metric tonnes is identified at the project, Midwinter will pay: $1,000,000 (exclusive of GST)

The Company believes that the Landak Bauxite project has the potential to host a significant resource of economic Bauxite.

Chinese production of alumina, driven by its rapidly expanding economy's demand for aluminium, grew at an average annual rate of 22% between 1998 and 2007, and by 42% in 2007 alone, without a corresponding rise in development of global bauxite production capacity.

The demand for bauxite was met by a rapid and massive opportunistic increase in Indonesian bauxite output, with Chinese imports from Indonesia rising from 832kt (2004) to 15.4Mt (2007). This rate of import continued into 2008 with 8.8Mt in the first four months, 4.8Mt of which came from Indonesia. With some 25Mt of new alumina capacity expected in China in the next few years, demand for bauxite, which cannot be met from domestic sources, will continue to rise.

For further information please contact David Seymour or Philip Miolin.

Mr. Jon O’Callaghan Mobile +61 412 772 206

Mr. David Seymour Mobile +61 403 609 974

Competent Persons Statement: The information contained in the report that relates to Exploration Results, Mineral Resources or Ore Reserves of projects owned by Midwinter Resources NL is based on information compiled or reviewed by Mr. Don Horn, who is an employee of Kimba Resources Pty Ltd. Mr. Don Horn is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Don Horn has given consent to the inclusion in the report of the matters based on his information in the form and context in which it appears.