RAREX LIMITED — Board/Management Information 2011

Jul 24, 2011

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ASX / MEDIA ANNOUNCEMENT 25 July 2011

CLANCY APPOINTS NEW CHAIRMAN

Clancy Exploration Limited (ASX: CLY) is pleased to announce that Dr Mike Etheridge has accepted the Board’s invitation to take on the role of Clancy’s Non-Executive Chairman, effective from July 22, 2011. Mike has been a non-executive director (including Lihir Gold Ltd and Consolidated Minerals Ltd) and chairman (including Geoinformatics Exploration Inc and ABM Resources Ltd) of several successful listed and non-listed companies. In 1989 he co-founded a geoscience consultancy business that was merged with SRK Consulting Group in 1997. He was chairman of SRK Consulting Australasia from 1997 to 2004. Mike joined Clancy’s Board as a non-executive director in March 2011.

The Company’s current Chairman, Dr James Macdonald will remain on the Board as a Non-Executive Director. The Board takes this opportunity to thank James for his role in guiding Clancy since listing on the ASX in 2007.

Clancy’s Managing Director, Gordon Barnes, said “Mike has considerable experience in chairing boards and brings a strong track record in building shareholder value in the resources sector. We look forward to benefiting from this experience”.

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Please direct enquiries to:

Gordon Barnes Managing Director Phone: +61 2 6361 1285 Email: info@clancyexploration.com Web: www.clancyexploration.com

About Clancy Exploration

Clancy Exploration (ASX: CLY) is an Australian-focused copper, gold, base metals and tin explorer. The Company’s portfolio consists of copper-gold projects in the Lachlan Fold Belt of NSW, base metal and tin projects in the Mount Read Volcanic Belt of Tasmania, Nadbuck near Broken Hill in NSW and Yalgoo, adjacent to the Golden Grove mine in Western Australia.

In NSW, Clancy has 12 wholly owned and managed projects and 7 joint venture projects which are managed by Gold Fields Australasia Pty Ltd. In Tasmania, Clancy has 2 base metal joint venture projects with Bass Metals and 2 tin joint venture projects with TNT Mines Pty Ltd (a wholly owned subsidiary of Minemakers Ltd). The Tasmanian projects are managed by Clancy's joint venture partners. This mix of Clancy and joint venture project funding allows a high level of exploration activity to be maintained, whilst prudently managing Clancy’s financial resources. Details of Clancy’s projects can be found at the Company's website: www.clancyexploration.com

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