STRIKE RESOURCES LIMITED — Capital/Financing Update 2007

Apr 23, 2007

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, 11/3/2002, 1/1/2003.

Name of entity

STRIKE RESOURCES LIMITED (SRK)

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).

+Class of +securities issued or to be Fully Paid Ordinary Shares $\mathbbm{1}$ issued

• $\overline{\mathcal{L}}$ Number of +securities issued or to be issued (if known) or maximum number which may be issued
• 3 Principal terms of the *securities (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)

26.760

Same rights as other fully paid ordinary shares on issue.

+ See chapter 19 for defined terms.

4	Do the *securities rank equally in allrespects from the date of allotmentwith an existing *class of quoted*securities?	Same rights as other fully paid ordinary shares onissue.
	If the additional securities do notrank equally, please state:the date from which they dotheextentwhichtotheyparticipate for the next dividend,оfі(inthecasetrust.a.distribution) or interest paymentthe extent to which they do not۰rank equally, other than inrelation to the next dividend,distribution or interest payment
5.	Issue price or consideration	20 cents each
6	Purpose of the issue(If issued as consideration for theacquisition of assets, clearly identifythose assets)	Exercise of $0.20 (30 June 2008) Options by option-holders
7	Dates of entering 'securities intouncertificated holdings or despatchof certificates	26,760 - 16 April 2007
		Number	$\pm$ Class
8	Number*classandοfall*securitiesquotedASX.on(including the securities in clause	68,061,094(also refer Table A)	ORDINARY(ASX Code: SRK)
	2 if applicable)	14,158,073$0.20 (30 June 2008)Options	30 June 2008 Optionseach optionprovides the right tosubscribeforoneSRK share at a costof 20 cents per share,on or before 5.00pmWSTon 30 June2008(ASX Code: SRKO)

$+$ See chapter 19 for defined terms.

		Number	+ Class
9	and + class of all Refer Table ANumber -*securities not quoted on ASX
	(including the securities in clause2 if applicable)

TABLE A - RECONCILIATION OF QUOTED AND UNQUOTED SECURITIES:

The Company currently has the following securities on issue:

	Quoted /To be Quoted	Not Quoted	Total
Fully paid ordinary shares	68,061,094		68,061,094
$0.20 (30 June 2008) Options	14,158,073		14.158.073
$0.20 (9 February 2011) Unlisted Options		1.833.333	1.833.333
$0.30 (9 February 2011) Unlisted Options	٠	1,666,667	1,666,667
$0.96 (21 July 2011) Directors' Options	$\blacksquare$	4.600,000	4,600,000
$0.96 (13 September 2011) UnlistedDirectors' Options		500,000	500,000
$1.20 (6 October 2011) Unlisted EmployeeOptions		150,000	150,000
$2.10 (7 March 2012) Unlisted Directors'Options		500.000	500.000
$2.81 (7 March 2012) Unlisted Directors'Options		3.300,000	3,300,000

$10°$ trust, distribution policy) on the issue. increased capital (interests)

Dividend policy (in the case of a $\sqrt{\frac{2}{n}}$ Same rights as other fully paid ordinary shares on

Part 2 - Bonus issue or pro rata issue

$\overline{11}$	approval $\sqrt{\text{N/A}}$holdersecurityIs arequired?
$12 \overline{ }$	Is the issue renounceable or non- $N/A$renounceable?
13	Ratio in which the "securities will $\vert$ N/Abe offered
14	*Class of *securities to which the $N/A$offer relates
15	determine N/A*Recorddateto.entitlements

$+$ See chapter 19 for defined terms.

16	Will holdings on different registers(or subregisters) be aggregated forcalculating entitlements?	N/A
17	Policy for deciding entitlements inrelation to fractions	N/A
18	Names of countries in which theentity has *security holders whowill notbesentnewissuedocuments	N/A
	Note: Security holders must be told how theirentitlements are to be dealt with.Cross reference: rule 7.7.
19	οfClosingdateforreceiptacceptances or renunciations	N/A
20	Names of any underwriters	N/A
21	Amount of any underwriting fee orcommission	N/A
22	Names of any brokers to the issue	N/A
23	Fee or commission payable to thebroker to the issue	N/A
24	handlingAmountfeeоfanyto brokers who lodgepayableacceptances or renunciationsOB.behalf of *security holders	N/A
25	Iftheissue iscontingenton"security holders"approval,thedate of the meeting	N/A
26	Date entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sent topersons entitled	N/A
27	If the entity has issued options, andthe terms entitle option holders toparticipate on exercise, the date onwhich notices will be sent to optionholders	N/A
28	Date rights trading will begin (ifapplicable)	N/A
29	Date rights trading will end (ifapplicable)	N/A

$+$ See chapter 19 for defined terms.

30	How do *security holders sell theirentitlements in full through abroker?	N/A
-31	How do *security holders sell partof their entitlements through abroker and accept for the balance?	N/A
-32	How do *security holders disposeof their entitlements (except by salethrough a broker)?	N/A
-33	*Despatch date	N/A

Part 3 - Quotation of securities

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

34	(tick one)	Type of securities
$\left( \text{a}\right)$		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

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
• If the +securities are +equity securities, a distribution schedule of the additional 36 *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ $5,001 - 10,000$ 10,001 - 100,000 100,001 and over

37 A copy of any trust deed for the additional "securities

+ See chapter 19 for defined terms.

Entities that have ticked box 34(b)

38.	Number of securities for which+ quotation is sought	N/A
39	Class of "securitiesfor whichquotation is sought	N/A
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 dowhichthe :extent totheyparticipate for the next dividend,thecase oftrust,(in-$\mathbf{a}$distribution) or interest paymentthe extent to which they do not٠rank equally, other than inrelation to the next dividend,distribution or interest payment	N/A
41	Reason for request for quotationnowExample: In the case of restricted securities, end ofrestriction period(if issueduponconversionοfanother security, clearly identify thatother security)	N/A
42	Number and *class of all *securitiesquoted on ASX (including thesecurities in clause 38)	NumberN/A	+ Class

$+$ See chapter 19 for defined terms.

Quotation agreement

• $\mathbf{1}$ *Ouotation of our additional *securities is in ASX's absolute discretion. ASX may quote 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 $707(3)$ or section $1012C(6)$ 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 or section 1016E 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 sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the "securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• $\overline{3}$ 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 "quotation of the *securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:		Date: 23 April 2007
	(Company Secretary)

Print name: VICTOR HO

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+ See chapter 19 for defined terms.