RIEDEL RESOURCES LIMITED — Capital/Financing Update 2011

Jan 26, 2011

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Companies Announcement Office Australian Securities Exchange Limited 10[th] Floor, 20 Bond Street SYDNEY NSW 2000

20 January 2011

Suite 6, Level 2 11 Ventnor Avenue West Perth WA 6005 Australia Tel: +61 8 9226 0866 Fax: +61 8 9226 5333 PO Box 913, West Perth WA 6872 Australia www.riedelresources.com.au

ABN: 91143 042 022 ASX: RIE

COMPLETION OF SHARE SALE AGREEMENT BETWEEN RIEDEL RESOURCES LIMITED, ADX ENERGY LIMITED AND AuDAX MINERALS PTY LTD

Riedel Resources Limited (the Company ) confirms the completion of the share sale agreement dated 14 October 2010 between the Company, ADX Energy Limited ( ADX ), and AuDAX Minerals Pty Ltd ( ADXM ) to acquire the entire issued capital of ADXM and the payment of the acquisition cost and issue of 25,000,000 ordinary fully paid shares thereunder to ADX.

Yours faithfully,

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Bruce Franzen Executive Director

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