PATERSON RESOURCES LTD — Board/Management Information 2008

May 18, 2008

Correction to 16 May 2008 ASX Announcement

ASX ANNOUNCEMENT 19[TH] MAY 2008

ASX CODE

The company wishes to correct the announcement made on 16 May 2008 regarding the notice from Uranium Oil and Gas Limited (“UOG”), a shareholder whose holding is greater than 5%, pursuant to 249D of the Corporations Act 2001.

The notice does not seek the replacement of all current directors of the company. UOG is not seeking to remove Mr Daniel Tucker.

TMX, TMXO

The notice requests the company convene a general meeting for the purposes of appointing:

DIRECTORS & KEY MANAGEMENT

Daniel Tucker – Non-Exec Chairman Jimmy Lee – Managing Director Clive Brown – Non-Exec Director Jason Brewer - Non-Exec Director Ian Hobson - Company Secretary

PRINCIPAL REGISTERED OFFICE

Terrain Minerals Ltd

Suite 5

1327 Hay Street West Perth WA 6005 PO Box 1170 West Perth WA 6872

• Mr David Alan Zohar,

• Mr Keith Wells

• Mr William Edward Bannister

as directors of the company and seeking removal of:

• Mr Jimmy Lee

• Mr Clive Brown

• Mr Jason Brewer

• Any other person appointed as a director between the date of the notice and the date of the meeting other than David Zohar, Keith Wells and William Bannister

as directors of the company.

CONTACT

Jimmy Lee Managing Director

Terrain Minerals Ltd

Ian Hobson Company Secretary

ACN: 116 153 514 PH: +618 9481 2455 WEB: www.terrainminerals.com.au EMAIL: terrain@terrainminerals.com.au