PHOSCO LTD — Capital/Financing Update 2012

Jul 1, 2012

Celamin Holdings N.L ACN 139 255 771 ABN 82 139 255 771

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Level 4, 100 Albert Road, South Melbourne, VIC 3205 Phone: (03) 9692 7222

Fax: (03) 9077 9233 Email generaladmin@celaminnl.com.au

2 July 2012

FREE BONUS LOYALTY OPTIONS – PROSPECTUS LODGEMENT

Board of Directors

Andrew Thomson (Nonexecutive Chairman)

David Regan (Executive Director)

Martin Broome (Nonexecutive Director)

Melanie Leydin (Nonexecutive Director)

Company Secretary

Melanie Leydin

As stated in the announcement dated 26 June 2012, Celamin Holdings NL (“Celamin”) proposes to make a pro rata bonus issue of options (“Bonus Options”) on the basis of one option for every two shares held (“Bonus Issue”), with the record date to determine entitlements being 16 July 2012. Holders of Partly Paid shares also have the right to participate in the Bonus Issue in the proportion which the amount paid bears to the total amounts paid and payable (one option for every 202 Partly Paid shares held).

The Bonus Options will be exercisable at $0.35 (35 cents) each with an expiry date of 28 June 2013. The Bonus Issue will result in the Company issuing approximately 75,949,679 options. Directors have decided to make the Bonus Issue in order to provide shareholders with a further opportunity to participate in the growth of the Company in the coming months and years.

Securities on Issue:

CNL: 151,746,177 ordinary shares

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

CNLCA: 15,471,296 partly paid shares

As the Bonus Options are being issued for nil consideration, no funds will be raised under the Bonus Issue. If all of the Bonus Options issued under the Bonus Issue are exercised the Company will receive approximately $26,582,388. It is currently intended that any funds raised by the exercise of the Bonus Options will be used to fund ongoing exploration operations and to augment the Company’s general working capital.

The Company has lodged a Prospectus for the offer with the Australian Securities and Investments Commission. The Prospectus can also be viewed on Celamin’s website.

MELANIE LEYDIN DIRECTOR/COMPANY SECRETARY

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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, 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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