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RAGNAR METALS LIMITED Capital/Financing Update 2011

Jul 28, 2011

65660_rns_2011-07-28_c630107f-b02b-42f1-adca-952e2c274c12.pdf

Capital/Financing Update

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MARKET RELEASE

29 July 2011

Drake Resources Limited

SUSPENSION FROM OFFICIAL QUOTATION

The securities of Drake Resources Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement.

Security Code: DRK

of Hewill

Jill Hewitt Senior Adviser Listings (Perth)

Drake Resources Limited ACN 108 580 069 ABN 12 108 560 069 Registered Office 6/34 York Street North Perth Western Australia 6005 PO Box 35 North Ferth Western Australia 6906

29 July 2011

ASX Markets Supervision Pty Ltd Level 8, Exchange Plaza 2 The Esplanade PERTH WA 6000

By Fax: 08 9221 2020

REQUEST FOR SUSPENSION

Drake Resources Limited (ASX: DRK) requests a suspension to be placed on the Company's securities, effective immediately, and provides the following information:

  • The Company makes the request pending the release of announcement in relation to a placement:
  • The suspension is to last until the Company releases an announcement in $\bullet$ relation to the placement; and
  • The Company is not aware of any reason why the suspension should not $\bullet$ be placed.

Regards,

Jay Stephenson Company Secretary