QPM ENERGY LIMITED — M&A Activity 2009

Aug 9, 2009

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10 August 2009

The Manager Australian Securities Exchange Limited Company Announcements Office 20 Bridge Street SYDNEY NSW 2000

Dear Sir / Madam

ALUMINEX RESOURCES LTD TAKEOVER BID – REPAYMENT OF EAGLE NICKEL LTD LOAN

Iron Mountain Mining Limited (“Iron Mountain”) confirms the announcement today by Eagle Nickel Limited (“Eagle Nickel”) that discussions have been held between Iron Mountain and Eagle Nickel following the announcement, on August 6[th] , of our proposed off market bid for Aluminex Resources Ltd (“Aluminex Resources”).

While the proposed takeover is still subject to shareholder acceptance of the bid offer, Iron Mountain advised during these discussions, that should it be successful, it is the board’s intention to repay in cash, the full loan amount owing to Eagle Nickel by Aluminex Resources, when it falls due on 4 November 2009.

Yours faithfully

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MARK KILLMIER Company Secretary Iron Mountain Mining Limited

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