ST BARBARA LIMITED — Capital/Financing Update 2010

Apr 7, 2010

Convergent is a Perthbased, gold focused resources company listed on the ASX, ticker - CVG

The Company is primarily focused on its flagship Bounty Gold Project, located 100km southeast of Southern Cross, in WA's goldfields.

The Bounty Gold Project includes a tenement package of 42.06 km2 centred on the historic Bounty Gold Mine that produced 1.2 million ounces of gold over a 12 year period between 1989 and 2001.

Current JORC resources include 456,500 ounces of potential open cut resources, and 246,700 ounces of underground resources.

ABN 85 118 463 004

Telephone: 08 9226 1100 Facsimile: 08 9226 2299 First Floor, 33 Colin Street West Perth WA 6005 PO Box 1304 West Leederville WA 6901

Thursday, 8 April 2010

Australian Securities Exchange Company Announcements

New Project: Van Uden

Highlights:

• Tenement acquisition agreement reached with St Barbara Ltd over 184km2 of licenses around Bounty gold project
• Package includes four mining licenses, two exploration licenses, one prospecting license (31km2 ), and three exploration licence applications (153km2 )
• Convergent to have an 80% interest in consideration for free carrying St Barbara to decision to mine, from that point both parties are obliged to contribute
• Convergent becomes manager and is responsible for expenditure
• Project includes Van Uden group of deposits which contains the Tasman, Dieman, Zeehan, Kirk and Piglet resources and some small excavations

Introduction

Convergent Minerals Ltd (The "Company" or "Convergent") is pleased to announce the signing of a tenement acquisition agreement with St Barbara Ltd ("SBM"). The acquisition is in line with Convergent's aim of building gold resources and continuing to consolidate prospective ground holdings around its Bounty gold project located near Southern Cross in Western Australia. The new license package includes several known deposits and prospects as well as numerous new targets to explore that will be included into the resource table.

Tenement Acquisition Agreement

This tenement acquisition agreement between Convergent and SBM covers the tenure which is shown in Table 1 and in Figure 1 below. The tenure comprises four granted mining leases located approximately 10km to the west of the Bounty project and comprise the Van Uden group of prospects that contain some gold resources and some existing open cut excavations. The tenure also comprises two granted exploration licences (approx 10km south and 10km north of Bounty) and one granted prospecting license (more than 20km south‐southwest of Bounty). Also part of the agreement are three exploration licence applications. One of these licenses is located north of Bounty and two are located to the south.

Under the agreement Convergent acquires an 80% interest in the tenements, becomes the manager and is responsible for day to day running of the tenements and expenditure commitments. The tenements will be held in the Company's subsidiary; Montague Resources Australia Pty Ltd.

This binding agreement is subject to a number of conditions precedent which both parties are working to achieve.

Upon decision to mine, a production joint venture will be formed in relation to the area the subject of the decision to mine. Convergent will have 80% of the joint venture and SBM 20%.

License	Granted	Expiry	Area ha	Rent	Expenditure
M77/477	31/08/1990	30/08/2011	620.95	9,700.02	62,100
M77/478	31/08/1990	30/08/2011	620.30	9,700.02	62,100
M77/522	11/10/1991	10/10/2012	529.15	8,278.60	53,000
M77/523	11/10/1991	10/10/2012	449.15	7,029.00	45,000
E77/1536	30/09/2009	29/09/2014	600	237.16	15,000
P77/3357	5/09/2007	4/09/2011	2.75	23.10	2,000

Table 1 : Tenure Acquired under Tenement Acquisition Agreement

Any queries should be directed to Simon Cato on (08) 9226 1100.

Yours faithfully,

Simon Cato Director

About Convergent Minerals Limited

Convergent is a Perth based, gold focused resources company listed on the ASX, ticker – CVG.

The Company is primarily focused on its flagship Bounty Gold Project, located 100km southeast of Southern Cross, in WA's goldfields. The Bounty Gold Project includes a tenement package of 42.06 km2 centred on the historic Bounty Gold Mine that produced 1.2 million ounces of gold over a 12 year period between 1989 and 2001.

The information in this report which relates to resources is based on information compiled by Mr. Jeremy Whybrow who is a Director of the Company and who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Whybrow has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are 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. Whybrow consents to the reporting of this information in the form and context in which it appears.

ONVERGE MINERALS LIMITED