PRODIGY GOLD NL — Capital/Financing Update 2008

Apr 16, 2008

AAUUSSTTRRAALLIIAANN GGOOLLDD IINNVVEESSTTMMEENNTTSS PPTTYY LLTTDD

Level 34, 50 Bridge Street Sydney NSW 2000 Mobile: 0414 613 770

PO Box 114 Bondi, NSW 2026 Facsimile: +61 2 9387 5774 Email: pfeldman@agil.com.au

17 April 2008

Yud Alef Nissan 5768

The Announcements Office ASX Limited Level 3, 20 Bridge Street SYDNEY NSW 2000

By ASX Online Transmission

AGV finalizes partnership on Broads Dam Project

As shareholders may be aware, Australian Gold Investments Limited (ASX: AGV) announced on 16 January 2008 that the Company had been approached by a major international gold mining company in relation to a potential joint venture involving the Broads Dam tenements held by AGV.

Since that time the AGV Board has been in discussions with that organization as well as other exploration companies with a view to securing the best possible commercial terms for AGV in relation to a potential joint venture. The aim of the AGV Board has been to ensure both the short and long term preservation of shareholder equity and to maximise the potential upside in shareholder value that can be derived from what the AGV Board believes to be a highly prospective project.

The Directors are pleased to advise that the Company has entered into a farm in heads of agreement (Farm in HOA)with Broads Dam Gold Holdings Pty Ltd, a wholly owned subsidiary of the ASX listed Australian Gold Investment Limited (ASX:AGV) and ABM Resources NL (ASX: ABU). Recognizing the significant value that this opportunity represents for both exploration companies, a mutually beneficial Farm In HOA has been signed.

The Farm In HOA covers the exploration and development of 3 Prospecting Licences (PL's 16/2386 – 16/2388) which are all located within the Broads Dam project owned by AGV in Western Australia. The Prospecting Licences are yet to be granted, being reversion applications over part of Mining Lease applications 16/295‐297 and the Farm in HOA will only come into effect once the Broads Dam tenements have been granted.

The Broads Dam Gold Project area is located in the Eastern Goldfields Province of the Yilgarn Craton, Western Australia, 40km north‐west of Kalgoorlie, covering ~3,000 hectares of the Eastern Goldfields Province.

ACN 089 489 645 Director: Mrs P Feldman

Telephone: +61 2 8216 0777

The project area encompasses 14km of strike length along the highly prospective auriferous Zuleika Shear Zone, which is also host to a number of nearby currently working open‐cut and underground gold mines, including Norton Gold Fields Limited Kundana and Paddington Gold Mining and processing operations. Furthermore, the previously mined Broads Dam (approximately 90,000oz @ 3.9g/t), White Foil and Blue Funnel (approximately 50,000oz @ 4.5g/t) gold deposits are immediately adjacent to and strike‐ conformable with AGV's tenement package.

Left‐lateral movement along the Zuleika Shear Zone within the tenement package appears to have generated reidel shears leading to brittle fracture deformation and the formation of fault jogs and zones of dilation favouring gold mineralisation. Twelve separate gold target anomalies (T1‐T12) coinciding with structural trap sites have been identified along the tenement package (Figures 1, 2, 3 & 4), with some gold grades and intersections comparable to those recorded for the Broads Dam and Blue Funnel deposits.

Recent geophysical work over the southern end of the Broads Dam project area , on tenements P16/2386, P16/2387 and P16/2388 juxtaposed to gold targets T7, T9 (T9 recorded 2m @8.08g/t Au from 40m) & T10, and encompassing gold targets T11 & T12, has identified a significant anomaly with features suggestive of a "Kundana" style and size (ie 5Moz) gold depositional system. It is this gold anomaly that is the focus of this joint venture between AGV and ABM Resources NL. Under the Farm‐in HOA, ABU has a right to earn up to a 40% joint venture interest in the 3 Prospecting Licences in four stages:

• a 10% interest upon ABU incurring at least $400,000 drilling on exploration within the tenement area within 12 months of the grant of the Tenements;
• a 10% interest upon ABU incurring at least a further $500,000 in exploration and development of the Prospecting Licences within 24 months of the grant of the Tenements;
• a 10% interest upon ABU incurring at least a further $1,000,000 in exploration and development of the Prospecting Licences within 36 months of the grant of the Tenements; and
• a 10% interest upon ABU sole funding all approved Joint Venture expenditure in relation to the Prospecting Licences between the time it earns its third 10% joint venture interest and the date a bankable feasibility study is approved by the joint venture in relation to a Prospecting Licence.

ABU is the manager of its sole funding period, with appropriate consultation and planning with AGV. A formal joint venture agreement is to be negotiated upon ABU earning its first 10% joint venture interest. The Board of AGV are particularly pleased that the current agreement leaves AGV with sufficient equity to still enable AGV to deal on favourable terms, and from a position of strength, with interested parties should a world class gold project be developed on the tenement area.

Commenting on the Farm in HOA, AGV's Executive Chairperson, Pnina Feldman, said, "I am delighted that we have been able to reach such a mutually beneficial agreement with ABM Resources NL and the AGV Board looks forward to working with ABM to ensure we maximize what we believe is an outstanding group of prospecting licences."

If shareholders have any questions relating to this announcement, they should contact AGV on (02) 8216 0777.

Figure 1. Broads Dam Gold Project – Tenements

Figure 2. Broads Dam Gold Project – Historic Gold Deposits, Gold Targets, Geology and Zuleika Shear Zone

Figure 3. Broads Dam Gamma-Group Prospects – Geological Structure and Gold Mineralisation

Figure 4. Broads Dam Delta-Group Prospects – Geological Structure and Gold Mineralisation