SCIDEV LTD — Capital/Financing Update 2009

May 5, 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

6 May 2009

Commercial Waste Treatment Agreement

Intec Ltd (ASX code: INL) is pleased to announce that it has signed a Memorandum Of Understanding (MOU) with Victoria’s largest galvaniser, GB Galvanizing Service Pty. Ltd. (GBG), for a programme of work to apply Intec’s heavy metal recovery technology to GBG’s spent pickle liquor and other wastes, and for the future construction of a dedicated facility for the commercial operation by GBG of Intec’s technology.

Acid ‘pickle liquor’ is used to clean and prepare steel prior to hot-dip zinc galvanising. Over time, the acid accumulates contaminants from the surface of the steel, particularly zinc and iron, and the acid strength is depleted.

At present, the ‘spent’ pickle liquor is sent for chemical treatment, resulting in a total of 2.3 tonnes of waste for every tonne of spent pickle liquor treated, with associated high economic costs and environmental impact. Additionally, the manufacture of the additional 1.3 tonnes of reagents per tonne of spent pickle liquor, the transport of the liquor, reagents and wastes, and the landfill disposal of the solid wastes result in further emissions of airborne, liquid and solid wastes. Thus literally tonnes of additional waste are generated for every tonne of spent pickle liquor treated.

Intec has proven technology for the recovery of heavy metals from wastewater, mine water, and waste sludges, and is currently operating a portion of its Burnie Research Facility for the recycling of heavy metals from automotive industry wastes. A variation of this technology has been proposed, under which the spent pickle liquor would be fully recycled, generating an industry-applicable iron product, highgrade zinc metal that can be returned to the hot-dip zinc galvanising bath, and refreshed acid pickle liquor. This would be a zero-waste outcome, with significant environmental benefits at much lower cost than the current industry benchmarks in Victoria and elsewhere in the world.

The signed MOU with GBG formalises an agreed programme of works, including the commercial demonstration of the proposed Intec technology application at its Burnie Research Facility, followed by the design and construction of a dedicated facility on-site with GBG in Victoria for the recycling of approximately one million litres per annum of spent pickle liquor. During the engineering phase, and depending on further commercial arrangements, consideration will be given to the construction of an expanded facility, up to three million litres per annum, for the treatment of spent pickle liquors from the wider Victorian galvanising industry.

The MOU also establishes a framework for Intec’s commercial fees-for-service during the programme, followed by negotiation of ongoing throughput-based usage fees. Intec retains full ownership and rights for the intellectual property associated with the recycling of spent pickle liquor and the Intec Process more generally, 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.

The introduction between Intec and GBG was facilitated by the Victorian EPA at its HazWaste Expo in November 2008, which had been specifically organised and hosted by the Victorian EPA for the purpose of linking solution providers with industry participants who have waste problems.

Thus, with the support of Intec, GBG has been invited to submit a Stage 2 application for partial funding support from the Victorian HazWaste Fund, to which GBG has been a contributor through waste disposal levies for a number of years. The programme of works is contingent upon a successful outcome of this application, and the programme’s total cost, including the forecast cost for the design and construction of the dedicated facility, is approximately $2 million (none of which is payable by Intec).

Intec would like to acknowledge the constructive approach of GBG leading up to this MOU, and the assistance of the Victorian EPA in facilitating this corporate introduction.

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.

Today’s agreement with GB Galvanizing Service Pty. Ltd. 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 ACL’s liquid and sludge waste feedstocks, as announced to the ASX on 25 March 2009.

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.