MINDAX LIMITED — Capital/Financing Update 2011

Jan 18, 2011

PRINCIPAL OFFICE

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Level 2, 25 Richardson Street, West Perth Western Australia PO Box 92, West Perth, WA, 6872 Telephone 08 9485 2600 Facsimile 08 9485 2500 Website www.mindax.com.au

ABN 28 106 866 442

19[th] January 2011

ASX Limited Company Announcements Platform

EXPIRY OF UNLISTED OPTIONS

The Company wishes to confirm that 100,000 unlisted options, previously issued under the terms of the Company’s Employee and Consultant Option Plan, have expired. The current issued capital of the Company is as follows:

Number Quoted	Class
145,695,75664,938,809	Ordinary Fully Paid Shares.Options with $0.75 exercise price, expiring 1December 2011.

Number Not Quoted	Class
250,000300,0001,800,0003,000,000	Employee options with $0.53 exercise price,expiring 1 August 2012.Employee/consultant options with $0.48exercise price, expiring 12 October 2012.Director/consultant options with $0.60exercise price, vested 31 March 2010,expiring 31 March 2012.Options with $0.75 exercise price, expiring 1December 2011.

Yours sincerely

Angelo Francesca Company secretary

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