ORCODA LIMITED — Capital/Financing Update 2008

Apr 3, 2008

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Newcrest joint ventures with SmartTrans at Mount Mackenzie

Date: 4[th] April 2008

FOR IMMEDIATE RELEASE

The Connors Arch Joint Venture participants, SmartTrans Holdings Limited (60%) and Australia Oriental Minerals NL (40%) have accepted an offer from Newcrest for a joint venture at their Mount Mackenzie gold project in Queensland.

The agreement was signed today and it allows Newcrest to earn 60% equity in the project by spending $10,000,000 over 5 years on three tenements, EPM 10006, EPM 12546 and EPMA 17515.

Newcrest will manage the new joint venture. It plans to commence work this month and has committed to spend $1,500,000 during the next 18 months. If Newcrest spends a further $8,500,000 in the following 3.5 years then it will earn 60% equity. No equity is earned prior to the completion of this expenditure.

SmartTrans will then have the option to contribute funds to the project or to not contribute and dilute its interest. SmartTrans and Australia Oriental Minerals may convert their combined interests to a net smelter royalty of up to 2.5% if and when a decision to mine is made.

SmartTrans Chairman, John Forsyth AM, acknowledged Newcrest’s experience in the discovery and mining of bulk tonnage porphyry-related gold deposits and welcomed the technical expertise and financial strength it would bring to the project.

“Newcrest is the ideal partner to bring our Mount Mackenzie project to fruition”, he said.

For further information contact:

Jim Laurie at SmartTrans Holdings Limited on (08) 92281199 or 0407383450 or jlaurie@smarttrans.com.au

ENDS