RAND MINING LIMITED — Capital/Financing Update 2005

Oct 30, 2005

30 September 2005

The Manager Company Announcements Australian Stock Exchange Limited Level 8, Exchange Plaza 2 The Esplanade PERTH WA 6000

Dear Sir,

Issue of Options

The Board of Rand Mining NL has agreed to issue options in the Company to Dr Ian G Robertson, General Manager – Corporate Development, to assist in retaining his services for the future and as recognition of the invaluable contribution he has made in the continued negotiations with Placer Dome Australia Ltd.

Each option shall entitle Dr Robertson the right to subscribe to one (1) fully paid ordinary share in the capital of the Company. Details are tabulated below:

Grant date.	No of options	Exercise date	Exercise price
$\degree$ st October 2 2005	500,000	1st October 2010.	\$1.00

Yours faithfully Rand Mining NL

A Billis Director

Rand Mining NL ACN 004 669 658 Suite G1/2, 49 Melville Parade, South Perth. WA 6151 Australia Correspondence: PO Box 307, West Perth. WA 6872 Australia Telephone (08) 9474 2113. Fax (08) 9367 9386