PTR MINERALS LTD — Capital/Financing Update 2010

Mar 16, 2010

Petratherm Ltd

Level 1, 129 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

==> picture [165 x 57] intentionally omitted <==

17 March 2010

The Manager ASX Limited Company Announcements

SHARE PURCHASE PLAN OFFER FOR SHAREHOLDERS TO PURCHASE UP TO $15,000 WORTH OF SHARES

Petratherm Limited ( Company ) refers to its announcement on 10 March 2010 which announced the details of its share purchase plan ( SPP ).

The Company is pleased to announce that it has obtained a waiver from Listing Rules 7.1 and 10.11 to enable it to issue up to $15,000 worth of shares, without shareholder approval, to eligible shareholders (including related parties) under the SPP.

One of the conditions of the waiver is that the total number of shares that may be issued under all share purchase plans undertaken by the Company during the 12 months after the record date for the Company’s April 2009 share purchase plan must not be greater than 30% of the number of fully paid shares on issue as at the record date of the Company’s April 2009 share purchase plan.

Given that the Company used a large amount of this 30% capacity when it issued shares in the Company’s April 2009 share purchase plan, the Company will (subject to receiving sufficient applications) issue up to an additional 14,174,050 shares under the SPP, in excess of the 30% capacity, on the basis that the additional shares will be issued without shareholder approval pursuant to Listing Rule 7.1. The maximum amount that the Company may therefore raise under the SPP is $4,135,353.60 by the issue of 17,230,640 shares at $0.24 per share.

The SPP terms and conditions will be dispatched to shareholders on 18 March 2010.

Yours faithfully

==> picture [179 x 45] intentionally omitted <==

DONALD STEPHENS PETRATHERM LTD COMPANY SECRETARY