STRIKE RESOURCES LIMITED — Capital/Financing Update 2007

Dec 2, 2007

ASX PERTH

NO.163

ASX Circular

Date: 26 October, 2007

• Key topics
• 1. Strike Resources Limited
• 1. Reorganisation
• 1. In Specie distribution
• 1. ASX Code: SRK

Reading List

Client Advisers Compliance Managers Corporate Advisory DTR Operators Issuers Institutions ASTC Participants Operations Managers (back office) Research Analysts Share Registries ACH Participants Authorized by Ben Donovan

Contact

Ben Donovan

Telephone

(08) 9224 0000

ASX Limited ABN 98 008 624 691 Exchange Centre 20 Bridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215

Internet: http://www.asx.com.au

No responsibility is accepted for any Inaccuracies contained in the matter published.

STRIKE RESOURCES LIMITED - REORGANISATION OF CAPITAL

Participating Organisations are advised that the return of capital in Strike Resources Limited (the "Company") will become effective on. Tuesday 4 December 2007.

The return of capital is by way of an in specie distribution of shares in Alara Uranium Limited ("Alara").

Shareholders will receive approximately 1 Alara fully paid ordinary share for every 4.95 ordinary fully paid share held in the Company if no more options are exercised.

Final ratios for options will be determined as set out on page 7 of the notice of AGM. The Company will advise this to the market in due course.

Fractions will be rounded down to the nearest number.

The following timetable will apply.

30 November 2007	Shareholder approval.
4 December 2007	Trading in securities commences on an "ex-return of capital" basis. ASX Code :SRK
10 December 2007	Record date for identifying shareholdersentitled to participate in the return of capital.
17 December 2007	Despatch date