RAREX LIMITED — Capital/Financing Update 2007

Jul 5, 2007

MARKET RELEASE

6 July 2007

CLANCY EXPLORATION LIMITED

PRE-QUOTATION DISCLOSURE

Clancy Exploration Limited was admitted to the Official List of ASX Limited on Friday 6 July 2007.

Official Quotation of the following securities will commence at 12.00 pm E.S.T. (10.00 am WST) on Wednesday, 11 July 2007.

The following information is released as pre-quotation disclosure.

• $1₁$ Distribution schedule - Appendix 1A, paragraph 48.
• Top 20 holders. $2₁$
• 1. Constitution.
• Number and escrow period of restricted securities. $\mathbf{4}$
• Number and escrow period of voluntarily escrowed securities. 5.

Security Code: CLY

Ben Donovan Senior Advisor, Issuers

$\frac{1}{2}$