PTR MINERALS LTD — Share Issue/Capital Change 2010

Apr 19, 2010

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PETRATHERM LIMITED ABN 17 106 806 884

19 April 2010

PROPOSED ISSUE OF UNLISTED OPTIONS FOR RELEASE TO THE MARKET

Petratherm Limited (‘the Company’) hereby provides notice to the ASX that it has granted 650,000 unlisted options to acquire shares in the Company subject to shareholder approval.

The options have been granted to two of the Company’s Directors as a key component of their remuneration in order to retain their services and provide incentive linked to the performance of the Company.

The Company has structured the pricing of the options to be based upon a premium of 40% to the market value on the issue date. This method of pricing will ensure that the options remain a long-term incentive to the Director’s linked to the future performance of the Company.

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

Class of Securities: Unlisted Options

Number to be issued: 650,000

Principal Terms of the Securities: Exercise Price: Market price on issue date + 40% premium.

Exercise Period: 5 years, expiring 18 April 2015.

Issue Price: NIL

Purpose of the Issue: Key component of Director’s remuneration.

Shareholder Approval: The Company will seek shareholder approval at a General meeting to be held in the future.

Issue to Class: The issue is not being made to a class of security holders.

Yours faithfully

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DONALD STEPHENS COMPANY SECRETARY