RAREX LIMITED — Fund Information / Factsheet 2007

Oct 29, 2007

30 October 2007 ASX / Media Announcement

CLANCY RELEASES INVESTOR FACT SHEET & HITS THE ROAD

Clancy Exploration (ASX: CLY, Clancy) is currently conducting investor presentations in Sydney in advance of participating in the Mining 2007 Resources Convention in Brisbane later this week.

The aim of the roadshow and conference participation is to gain recognition for Clancy’s growth potential and meet with major investors and wider groups of brokers and analysts.

Clancy Exploration’s Chairman, Dr James Macdonald, said the Company has a unique story to tell and was already receiving positive feedback.

“Our messages are quite simple – Clancy has outstanding drill-ready, A-Class targets with significant upside potential, supported by cutting-edge technology,” said Dr Macdonald. “Additionally, we are more advanced than many of our peers and believe we are improving the odds of exploration success.”

Clancy commenced a 25,000m drilling campaign this month at the Company’s highest priority targets in the prospective Lachlan Fold Belt in New South Wales.

“Clancy is entering a very exciting phase of growth and we are committed to keeping our shareholders and the market abreast of our progress, achievements and milestones,” he said.

Clancy today announced the availability of an Investor Fact Sheet providing an update on the Company’s projects and its strategy to achieve shareholder growth.

Included in the Investor Fact Sheet is information describing Clancy’s:

• ! Corporate profile

• ! Major projects

• ! Drilling highlights

• ! Exploration activity

“The Investor Fact Sheet is an excellent place for potential and existing shareholders to start acquainting themselves with Clancy’s advanced project portfolio.”

Clancy plans to visit Melbourne, Adelaide and Perth in November as part of this Australian roadshow. Please contact Ann Nahajski (contact details below) to express an interest in meeting with the Company.

A copy of the Investor Fact Sheet and Roadshow Presentation follows this announcement and is available on Clancy’s website at www.clancyexploration.com.

-ENDS-

For further information on Clancy and its projects see the website www.clancyexploration.com

For further enquiries contact:

Ann Nahajski Porter Novelli Tel: 08 9386 1233 Mob: 0400 205 433 E-Mail: anahajski@wa.porternovelli.com.au

Clancy Exploration | 57 Havelock Street, West Perth WA 6005 | Tel: (08) 9481 8241 | Fax: (08) 9226 1299 Email: info@clancyexploration.com | www.clancyexploration.com.au

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About Clancy

Clancy Exploration (ASX: CLY) is an Australian-focused copper, gold and base metals explorer. Although a relatively new listing on the ASX (July 2007), the Company’s portfolio has been built up over the past four years to consist of highly prospective copper-gold projects in the Lachlan Fold Belt of NSW and base metal projects in the Mount Read Volcanic Belt of Tasmania.

Clancy’s competitive advantages include support from major shareholder, Geoinformatics (TSXV), having one of the largest ground positions of any explorer in the prospective Macquarie Arc (>1850km[2] ), and the innovative use of digital geological and geophysical data in probability based targeting.

The Company’s objective is to advance its properties to a stage of commercial development by applying faster, less expensive and more reliable analytical methods to resource exploration. The exploration activities are well-funded and substantial upside exists with the potential addition of resources.

Additionally, Clancy has established joint ventures with Gold Fields Limited on three projects in NSW (managed by Clancy) and with Bass Metals Limited on the Tasmanian tenement package (managed by Bass Metals). Clancy, in conjunction with its JV partners, have spent over $3.5 million on the projects to date, with a combined $7.4 million to be spent on the Company’s tenement package over the next two years.

A six month drilling program commenced in October with a healthy exploration budget and a well-credentialed team in place to advance several ‘drill-ready’ targets.

About Geoinformatics Process

As the listed arm of Geoinformatics in Australasia, Clancy Exploration (“Clancy”, “the Company”) has access to leading edge targeting applications, technology and substantial technical resources.

Geoinformatics has developed a rigorous and innovative data manipulation and targeting methodology, the Geoinformatics Process. This unique process incorporates risk and uncertainty in to the target models, the output of which quantifies the probability of potential mineral discoveries.

Clancy holds a target bank of highly prospective targets which were generated by the Geoinformatics Process. The target bank will provide an immediate focus for exploration by Clancy. Therefore, the Company is well positioned for growth through further data analysis and the development by Geoinformatics of future targeting innovations.

An independent expert, SRK, reviewed the methodology’s targeting results and found it to be technically sound. Targets generated by the Geoinformatics Process were validated against known deposits and occurrences. The independent expert confirmed that Clancy’s results were exceptional in their ability to predict the location of known mineralisation and intrusions, which provides independent confidence in this probabilistic modelling approach.

The information in this document that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Gordon Barnes who is a Member of the Australian Institute of Geoscientists. Mr Barnes is a full-time employee of Clancy Exploration Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Gordon Barnes consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Clancy Exploration | 57 Havelock Street, West Perth WA 6005 | Tel: (08) 9481 8241 | Fax: (08) 9226 1299 Email: info@clancyexploration.com | www.clancyexploration.com.au