MEC RESOURCES LIMITED — Capital/Financing Update 2008

Aug 3, 2008

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4 August 2008

Companies Announcements Office Australian Stock Exchange Limited 10[th] Floor, 20 Bond Street SYDNEY NSW 2000

Dear Sir/Madam,

MEC Resources Limited –Non Renounceable Rights Issue

MEC Resources Limited (“MEC”) is pleased to advise that the Non Renounceable Rights Issue closed on 30 July 2008 with eligible Shareholders taking up 49% of the Rights Issue.

MEC wishes to advise that eligible Shareholders subscribed for 34,979,525 Shares at an issue price of 5 cents per share and 52,469,288 free attaching options. The total funds received from this issue were $1,748,976.

The Directors have yet to make an allotment of the Shares representing the Shortfall. These Shares may be placed at the discretion of the Directors within the next 3 months.

Allotment and issue of shares and options is expected to take place on Thursday 7[th] of August 2008.

The Directors wish to thank all eligible shareholders for the continued support.

Yours Sincerely

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David Breeze Executive Director

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MEC Resources Ltd

ACN 113 900 020 PO Box 317, North Perth, WA 6906 14 View Street, North Perth 6006, Western Australia T: +61 8 9328 8477 F: +61 8 9328 8733 info@mecresources.com.au www.mecresources.com.au