STRIKE RESOURCES LIMITED — Capital/Financing Update 2003

Mar 9, 2003

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001.

Name of entity

FAST SCOUT LIMITED

ABN

94 088 488 724

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{1}$ +Class of +securities issued or to be issued

NOT APPLICABLE

• $\overline{2}$ Number of +securities issued or to be issued (if known) or maximum number which may be issued
• Principal terms of the *securities 3 (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if *convertible securities. the conversion price and dates for conversion)

NOT APPLICABLE

NOT APPLICABLE

$+$ See chapter 19 for defined terms.

$\overline{4}$ Do the *securities rank equally in all respects from the date of allotment with an existing "class of quoted +securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
• Issue price or consideration 5
• 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)
• $\overline{\tau}$ Dates of entering *securities into uncertificated holdings or despatch of certificates
• 8 Number and *class of all *securities quoted on ASX (including the securities in clause 2 if applicable)

Number	+ Class
71,532,941	ORDINARY

$|\nmid$ Class

• *class $\mathbf Q$ Number and of all *securities not quoted on ASX (including the securities in clause 2 if applicable)
• $101$ Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

10,060,340	ORDINARY

NOT APPLICABLE

Number

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

Part 2 - Bonus issue or pro rata issue

approval

$11$ $\overline{\text{ls}}$ security holder required?

NOT APPLICABLE

Is the issue renounceable or non- NOT APPLICABLE $1212$ renounceable?

$+$ See chapter 19 for defined terms.

• $13$ Ratio in which the "securities will NOT APPLICABLE be offered
• *Class of *securities to which the $14$ offer relates
• $15$ *Record date determine $t_{\Omega}$ entitlements
• 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?
• Policy for deciding entitlements in 17 relation to fractions
• 18 Names of countries in which the entity has "security holders who will not be sent new issue documents

Note: Secarity holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.

• 19 Closing date for receipt of acceptances or renunciations
• 20 Names of any underwriters
• Amount of any underwriting fee or 21 commission
• 22 Names of any brokers to the issue
• 23 Fee or commission payable to the broker to the issue
• Amount of any handling fee 24 payable to brokers who lodge acceptances or renunciations on behalf of *security holders
• 25 If the issue is contingent on "security holders' approval, the date of the meeting
• 26 Date entitlement and acceptance form and prospectus will be sent to persons entitled

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

$+$ See chapter 19 for defined terms.

-27	If the entity has issued options, and
	the terms entitle option holders to
	participate on exercise, the date on
	which notices will be sent to option
	holders

• 28 Date rights trading will begin (if applicable)
• 29 Date rights trading will end (if applicable)

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

NOT APPLICABLE

• 30 How do *security holders sell their entitlements in full through a broker?
• $31$ How do *security holders sell part of their entitlements through a broker and accept for the balance?

32 How do *security holders dispose of their entitlements (except by sale through a broker)?

NOT APPLICARLE

NOT APPLICABLE

NOT APPLICABLE

Part 3 - Ouotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities (tick one)

*Despatch date

$(a)$

33

Securities described in Part 1

$(b)$ All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

(If the additional securities do not form a new class, go to $43$ )

Tick to indicate you are providing the information or documents

35

If the *securities are *equity securities, the names of the 20 largest holders of the additional "securities, and the number and percentage of additional "securities held by those holders

$+$ See chapter 19 for defined terms.

36	If the *securities are *equity securities, a distribution schedule of the additional*securities setting out the number of holders in the categories$1 - 1.000$$1,001 - 5,000$$5,001 - 10,000$10,001 - 100,000100,001 and over
-37	A copy of any trust deed for the additional "securities"
(now go to $43$ )

Entities that have ticked box 34(b)

38	Number of securities for which 10,060,340* quotation is sought
39.	Class of *securities for whichquotation is sought	ORDINARY
40.	Do the *securities rank equally in allrespects from the date of allotmentwith an existing "class of quoted*securities?If the additional securities do notrank equally, please state:the date from which they do$\bullet$extent towhich theythe .$\bullet$participate for the next dividend,(in-the caseofa.trust.distribution) or interest paymentthe extent to which they do notrank equally, other than inrelation to the next dividend,distribution or interest payment	YES
41	Reason for request for quotationnowExample: In the case of restricted securities, end ofrestriction period(if issued upon conversion ofanother security, clearly identify thatother security)	END OF ESCROW PERIOD
42	Number and *class of all *securitiesquoted on ASX (including thesecurities in clause 38)	Number71,532,941	+ ClassORDINARY

(now go to $43$ )

$+$ See chapter 19 for defined terms.

All entities

Fees

43	Payment method (tick one)
	Cheque attached
	$\Box$ Electronic payment madeNote: Payment may be made electronically if Appendix 3B is given to ASX electronically at the same time.
	Periodic payment as agreed with the home branch has been arrangedNote: Arrangements can be made for employee incentive schemes that involve frequent issues of securities.

Ouotation agreement

• +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote $\mathbf{I}$ the $+$ securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
  • The issue of the $+$ securities to be quoted complies with the law and is not for an illegal purpose.
  • There is no reason why those $+$ securities should not be granted $+$ quotation.
  • An offer of the "securities for sale within 12 months after their issue will not require disclosure under section 707(3) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 of the Corporations Act does not apply to any applications received by us in relation to any $+$ securities to be quoted and that no-one has any right to return any +securities to be quoted under section 737 or 738 of the Corporations Act at the time that we request that the +securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• $\overline{4}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before $\dagger$ quotation of the $\dagger$ securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

VICTOR HO

Sign here:

...................................... (Company Secretary)

Print name:

_____________________

$+$ See chapter 19 for defined terms.