RAIDEN RESOURCES LIMITED — Capital/Financing Update 2010

Apr 29, 2010

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----- Start of picture text ----- SHELLVILLAGES AND RESORTS LIMITEDABN 68 009 161 522----- End of picture text -----

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Suite 20, Level 3, 72 Pitt Street Sydney NSW 2000

30 APRIL 2010

The Company Announcements Office ASX Limited

CONVERSION OF DEBT

SHELL Villages & Resorts Ltd (SVC) wishes to advise that the Company has reached agreement with its major creditors to convert $2,112,413.70 of debt into equity by way of payment of cash $79,500 plus the issuing of 39,788,221 shares at $0.05.

This arrangement will be subject to share holder approval at the forthcoming AGM to be convened.

B PATKIN DIRECTOR bpatkin@shellvillages.com.au

Address for all mail: GPO Box 5188 Sydney NSW 2001 Australia Tel: +61412224225 Fax: +612 9232 8816