METALS AUSTRALIA LTD — Capital/Financing Update 2005

Mar 14, 2005

AUSTRALIAN UNITED GOLD LTD

ACN 008 982 474

1st Floor, 8 Parliament Place West Perth WA 6005 PO Box 1618 West Perth WA 6872 Tel: (08) 9481-7833 Fax: (08) 9481-7835 Email: aul@austunitedgold.com Website: www.austunitedaold.com

15^th March 2005

Australian Stock Exchange Companies Announcement Office 20 Bond Street SYDNEY NSW 2000

Dear Sirs.

ISSUE OF AUSTRALIAN UNITED GOLD LTD SHARES SECONDARY TRADING NOTICE PURSUANT TO SECTION 708A(5)(e) of the Corporations Act 2001

On 11 March 2005 the Company issued 5,000,000 ordinary fully paid shares at a price of 1.5 cents each and 5,000,000 free attached options, exercisable at 2 cents each, expiring June 30 2006, to raise a total of \$75,000. The shares and options have been placed with one investor. The shares and options issued pursuant to the placement rank equally with all existing ordinary shares and options, previously issued by the Company. The funds raised in the placement are to be used for working capital and to fund the Company's exploration programmes at the Manindi and Sherlock bay Extended Projects.

Secondary Trading Exemption

The Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, a sale of the Securities noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

• a) The Company issued the Securities without disclosure to investors under Part6D.2 of the Act;
• b) As at 11 March 2005 the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and
• c) As at 11 March 2005 there is no information:

• that has been excluded from a continuous disclosure notice in accordance with the ASX i) Listing Rules; and

• ii) that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

• A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or
• B) the rights and liabilities attaching to the Securities.

Yours faithfully,
Australian United Gold Ltd

D N ZUKERMAN Director