PHOSCO LTD — Proxy Solicitation & Information Statement 2012

Apr 17, 2012

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Celamin Holdings N.L

ACN 139 255 771 ABN 82 139 255 771 Suite 304, 22 St Kilda Road, St Kilda, VIC 3182 Phone: (03) 9692 7222 Fax: (03) 9529 8057 Email generaladmin@celaminnl.com.au

18 April 2012

WITHDRAWAL OF RESOLUTION 1 FROM NOTICE OF MEETING

Board of Directors

Andrew Thomson (Non‐executive Chairman)

David Regan (Managing Director) Martin Broome (Non‐executive Director)

Melanie Leydin (Non‐executive Director)

Company Secretary

Melanie Leydin

The Board of Celamin Holdings NL (ASX Code: CNL) would like to advise that a decision has been made to withdraw Resolution 1 from the Company’s upcoming General Meeting which is due to be held on Friday, 27 April 2012 at 11.00am.

The Company has decided to withdraw this resolution as the wording of Resolution 1 was ambiguous on the timing of the issue of shares to Mr Andrew Thompson. A revised resolution will be submitted to shareholders making it clear as to the timing of this placement and accordingly seeking shareholder approval of the placement to refresh the Company’s 15% placement capacity.

Securities on Issue:

CNL: 53,956,177 ordinary shares

CNLO: 25,367,001 options expiring 31 March 2014

CNLCA: 15,471,296 partly paid shares

The Board advises that this resolution is not necessary as part of the closing of the acquisition of Celamin Limited which is the primary purpose of the General Meeting to be held on 27 April 2012.

Any proxies submitted to the Company will be disregarded in respect of Resolution 1.

DAVID REGAN MANAGING DIRECTOR

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Celamin Holdings N.L ACN 139 255 771 ABN 82 139 255 771 Suite 304, 22 St Kilda Road, St Kilda, VIC 3182 Phone: (03) 9692 7222 Fax: (03) 9529 8057 Email generaladmin@celaminnl.com.au

About Celamin Holdings NL

Celamin Holdings NL (ASX Code CNL) is an ASX listed company focused on the exploration and development of resource projects in North Africa initially in Tunisia and Algeria.

Celamin holds the Chaketma Phosphate exploration permit in Tunisia with TMS. This project is Celamin’s current focus as it has larger target potential than Celamin’s other Phosphate project Bir El Afou. The first results from channel sampling, 12 hole drilling program and historic data at Chaketma have been announced. The Chaketma project would use the same rail and port infrastructure as identified in the Bir El Afou pre‐feasibility studies.

Celamin continues to step up work to carry out a due diligence drilling program for its farm‐in to an Exploitation Permit at the Oued El Kebir precious and base metal project in Algeria.

Celamin has also acquired rights to several base metal tailings Projects in Tunisia with TMS and is the holder of three Exploration Permits with base metal (Pb/Zn) targets on a 50/50 basis with TMS.