SCIDEV LTD — Capital/Financing Update 2009

Aug 24, 2009

ABN 25 001 150 849

Level 3 2 Elizabeth Plaza North Sydney NSW 2060 Australia PO Box 1507 North Sydney NSW 2059 Australia

Phone: 02-9925-8170 Fax: 02-9925-8110 Email: mail@intec.com.au Website: www.intec.com.au ASX code: INL

Companies Announcements Office Australian Securities Exchange

25 August 2009

HAZWASTE FUNDING SUPPORT FOR VICTORIAN PROJECT

Intec Ltd (ASX code: INL) is pleased to announce that the Victorian HazWaste Fund has fully approved, in principle, the requested $780,000 funding support for the research, demonstration and engineering portion of the proposed $2.85 million project to apply the Intec Process to galvanising industry spent pickle liquor and other wastes. The HazWaste grant is subject to execution of a legally binding funding agreement with EPA Victoria.

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Hydrochloric acid ‘pickle liquor’ is used Figure: Hot dip galvanizing operations worldwide to clean and prepare steel prior to hotdip zinc galvanising. Over time, the acid accumulates contaminants from the surface of the steel, particularly zinc and iron, with the acid strength depleting and eventually becoming unusable. In Victoria (and elsewhere), this ‘spent pickle liquor’ is currently disposed of - at rapidly increasing cost - to a licensed waste landfill facility. Existing landfill-oriented stabilisation technologies produce approximately 2.3 tonnes of waste per tonne of spent pickle liquor treated. By comparison, Intec’s proprietary heavy metals recycling process is intended to yield zero waste, instead converting all materials to useful products: zinc metal and hydrochloric acid for onsite re-use in the host galvanising operation, with iron oxide and calcium sulphate sold as filler materials to industry.

The HazWaste funding supports the Memorandum of Understanding between Intec and GB Galvanizing Service Pty. Ltd. (GBG) in Victoria that was signed in May 2009. The MOU formalises a staged programme of works, starting with confirmatory testwork conducted by Intec at its Sydney laboratories, then followed by commercial processing of 50,000 litres of GBG’s spent pickle liquor through Intec’s Research Facility in Burnie. This will enable detailed engineering design of a dedicated facility on-site at GBG’s galvanising operations in Victoria for the recycling of between one and three

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ASX code: INL

million litres per annum of spent pickle liquor. Provided that all of these earlier stages have been technically and economically validated, GBG would then proceed to the construction of this facility.

Intec retains full ownership of the intellectual property associated with the Intec Process for recycling of spent pickle liquor, but the MOU includes scope for further cooperation between GBG and Intec for the wider application of the technology throughout Australia, either directly or in cooperation with the Galvanizers Association of Australia. This application of Intec’s technology then has the potential to be widely applied internationally (notably including China).

Yours faithfully Intec Ltd

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Philip R Wood Managing Director and Chief Executive Officer

About Intec Ltd

Intec Ltd is an Australian company which owns the Intec Process for superior and sustainable metals production. The Intec Process comprises a set of patented chloride-based hydrometallurgical processes that have been demonstrated to produce high purity base and precious metals from concentrates of sulphide and oxide ores, tailings and industrial wastes. The Intec Process has substantial environmental and cost advantages over both the widely used conventional smelting and refining processes and other known hydrometallurgical processes.

The galvanising industry project follows Intec’s very successful demonstration of the use of its specialised reagents and technology for the environmentally and economically superior recovery of heavy metals from liquid and sludge industrial waste feedstocks.

It is expected that Intec’s intellectual property derived from its waste metals recovery technology will have broad application for mine tailings water, industrial waste water and waste sludge treatment, both nationally and internationally.