REDIVIUM LIMITED — Capital/Financing Update 2004

Feb 10, 2004

Hannans Reward NL Exploring for Gold and Base Metals

11 February 2004

Company Announcements Office Australian Stock Exchange Limited 10th Floor, 20 Bond Street SYDNEY NSW 2000

Dear Sirs

Ground TEM Surveys at QVR commence today

The Company is pleased to announce that exploration will commence today at the 100% owned Queen Victoria Rock nickel sulphide prospect.

The exploration program will initially comprise a detailed surface TEM survey over the entire komatiite sequence within the four granted prospecting licences comprising the Spargos Prospect. The TEM survey will take approximately fourteen days with results expected up to fourteen days thereafter. The aim of the survey is to identify TEM conductors within the Spargos Prospect that may indicate the presence of nickel sulphides.

Should TEM conductors be identified the Company will drill test selected surface TEM conductors and conduct downhole TEM surveys. During the drilling program the Company will also conduct downhole TEM in existing diamond holes that are known to contain intercepts of $3m@3.05%$ Ni (including $1m@5.19%$ Ni). The drill testing will commence once results from the detailed surface TEM survey are known and all approvals have been obtained.

The surface TEM survey is being managed by Newexco Services Pty Ltd who concluded in their report 'Review of the Nickel Sulphide Potential of the Queen Victoria Rock Project, January 2004' that "the potential for economic resources of similar high grade (<5%) nickel sulphides (particularly of short strike length, similar to Silver Swan) at the Queen Victoria Rock prospect is considered to be high."

Recent Investor Presentations in the Eastern States

The Company recently completed an investor roadshow to Melbourne and Sydney lead by Richard Scallan (Chairman), Damian Hicks (Director) and William Amann (Director, Newexco Services Pty Ltd). Presentations were made to eighteen firms in the four days with the aim being to introduce Hannans Reward NL, its projects and capital structure to the wider investment community.

85 Maritana Street, Kalgoorlie, Western Australia • PO Box 1227, West Perth, WA, 6872 admin@hannansreward.com • www.hannansreward.com $+61894803757(T)$ + $+61894813177(F)$

We are pleased to say that Hannans Reward NL was well received and that the objectives for the roadshow were achieved.

Option Issue

As previously advised the Company will make a free pro-rata non-renounceable offer of options to acquire fully paid shares in the Company to shareholders on the basis of one option for every two shares held at 5pm WST on 3 March 2004 (Record Date). The options will be exercisable at 20 cents each on or before 31 March 2006. The Company will apply for official quotation of the Options. For further information please refer to the ASX announcement made on 28 January 2004.

We encourage shareholders or interested parties to contact their stockbroker in relation to the requirement to be a registered as a shareholder by the Record Date to ensure entitlement to the option issue.

Yours faithfully,

gammen Haden

Damian Hicks Director

Hannans Reward NL