PHOSCO LTD — Board/Management Information 2012

Aug 29, 2012

ASX Announcement

30 August 2012

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ACN 139 225 771 ABN 82 139 255 771

Level 4, 100 Albert Road South Melbourne VIC 3205

Phone: +61 (0)3 9692 7222 Fax: +61 (0)3 9077 9233 generaladmin@celaminnl.com.au

Board of Directors

Martin Broome, Non-Exec Chairman David Regan, Managing Director Timothy Regan, Executive Director Melanie Leydin, Non-Exec Director

Company Secretary

Melanie Leydin

Securities on Issue

CNL: 151,822,152 ordinary shares

CNLOA: 75,984,913 options expiring 28 June 2013

CNLO: 25,358,026 options expiring 31 March 2014

CNLCA: 15,404,296 partly paid shares

Temporary Change to Board of Directors

Celamin Holdings N.L. (ASX: CNL, “Celamin”) provides the following information in relation to its Board of Directors (“Board”).

The Hon. Andrew Thomson has resigned from his position as NonExecutive Chairman to comply with ASX requirements in relation to “good fame and character” guidelines. These guidelines require board members to have police checks and clearances over the last ten years in each country they have lived and worked in. It is the Board’s intention to reinstate Mr Thomson once these clearances have been received.

The ASX recently granted an extension to 31 August 2012 to allow further processing time for Mr Thomson’s request, as there was one outstanding report from the USA. However, due to an additional and unforeseen request by the US Department of Justice for a set of fingerprints to enable Mr Thomson’s US Police Clearance certificate to be processed, the report could not be provided in the time required. A further extension of time has not been granted and as such, Mr Thomson must stand down until the certificate is received.

To overcome waiting times in Australia for fingerprint appointments of several months, Mr Thomson is flying to the US to obtain them. Allowing for processing and postal times, the Board hope to be able to invite Mr Thomson back to the Board in mid to late October 2012. In the interim, Mr Martin Broome has agreed to become Non-Executive Chairman of Celamin.

Further, to ensure the current structure of the Board is maintained and to ensure continuity, Mr Timothy Regan, a director of Celamin’s 100%-owned subsidiary Celamin Limited, has been invited to join the board. Due to his role as a director for Celamin Limited, Mr Regan joins the board as an executive director.

These temporary measures are considered normal under the circumstances and in no way will impede the day-to-day running of the company or its operations.

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 Tunisian Mining Services (TMS). This project is Celamin’s current focus as it has better target potential than Celamin’s other Phosphate project, Bir El Afou. The first results from channel sampling, 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.

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