PTR MINERALS LTD — Capital/Financing Update 2009

May 13, 2009

Petratherm Ltd

105-106 Greenhill Road, Unley, SA 5061 Tel: +61 8 8274 5000 Fax: +61 8 8272 8141 Website www.petratherm.com.au Email admin@petratherm.com.au A.C.N. 106 806 884 A.B.N. 17 106 806 884

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ASX ANNOUNCEMENT 14 May 2009

$7M POSITIVE RESPONSE TO SHAREHOLDER PURCHASE PLAN & SHARE PLACEMENT

I am pleased to inform Shareholders that the Shareholder Purchase Plan (SPP) announced on 9 April that closed on 8 May 2009 raised $4,329,500 at 26 cents per share before costs (subject to cleared funds in the Company’s bank account).

In addition the Company has today raised $3,083,600 at 32 cents per share before costs from a Share Placement to clients of Taylor Collison Ltd.

The Company is encouraged by the ongoing support from its shareholders and brokers as evidenced by the positive uptake of these offers.

Especially as the Petratherm SPP offer was one of many seeking limited shareholder funds in a competitive and difficult market.

The funds raised will be applied to fund ongoing exploration and development of the Company’s projects, in particular, the Company’s flagship project Paralana in South Australia.

In accordance with Listing Rule 3.10.3, the Company provides the following details of the placement shares:

Class of Securities: Fully Paid Ordinary Shares Number to be issued: 9,636,250

Principal Terms of the Securities: The shares will carry standard rights applicable to quoted ordinary shares in the Company and will, from the date of issue, rank equally with fully paid quoted ordinary shares currently on issue. Issue Price: $0.32 per share Purpose of the Issue: To fund ongoing exploration and development of the Company’s projects, in particular, the Company’s flagship project Paralana. Shareholder Approval: The Company will not seek shareholder approval prior to the issue of the placement shares, as approval for this issue is not required by the Listing Rules. The company intends to subsequently seek approval of this issue at a general meeting pursuant to Listing Rule 7.4(subsequent approval of issue of securities). Issue to Class: The issue is not being made to a class of security holders.

As the issue will be to sophisticated and/or professional investors, it will not require disclosure under the Corporations Act.

Yours Sincerely

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Derek Carter Chairman