PEEL MINING LIMITED — Share Issue/Capital Change 2010

Dec 2, 2010

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Manager Announcements Company Announcements Office Australian Stock Exchange Limited Level 4, 20 Bridge St Sydney, NSW 2000

2[nd] December 2010

Notice under Section 708A(5)(e) of the Corporations Act

Peel Exploration Limited ( Company ) has issued 11,000,000 ordinary shares pursuant to a placement made to sophisticated investors and professional investors (as described in Section 708 of the Corporations Act 2001 ( Corporations Act ).

The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.

The shares were issued to Hampton Hill Mining NL without disclosure to investors under Part 6D.2, in reliance on Section 708A(5) of the Corporations Act.

The Company, as at the date of this notice, has complied with:

• (a) the provisions of Chapter 2M of the Corporations Act; and

• (b) Section 674 of the Corporations Act.

As at the date of this notice, there is no excluded information for the purposes of Section 708A(7) and (8) of the Corporations Act.

Yours faithfully

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David Hocking Company Secretary

Peel Exploration Limited (ACN 119 343 734) Telephone (08) 9382 3955 Facsimile (08) 9388 1025 Email info@peelex.com.au PO Box 849, West Perth WA 6872, Unit 1, 34 Kings Park Road, West Perth WA 6005