STRIKE RESOURCES LIMITED — Capital/Financing Update 2007

Mar 6, 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 $\mathbbm{I}$ issued

• Number of +securities issued or to be $\overline{2}$ 207,511 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)

Same rights as other fully paid ordinary shares on issue.

+ See chapter 19 for defined terms.

Do the *securities rank equally in all Same rights as other fully paid ordinary shares on $\overline{4}$ respects from the date of allotment issue. 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 5 Issue price or consideration 20 cents each 6 Purpose of the issue Exercise of $0.20 (30 June 2008) Options by option-(If issued as consideration for the holders acquisition of assets, clearly identify those assets) $\overline{\tau}$ Dates of entering "securities into 207,511 - 2 March 2007 uncertificated holdings or despatch of certificates $+C$ lass Number 8 Number and +class of all 64,371,244 ORDINARY *securities quoted on ASX (including the securities in clause (also refer Table A) (ASX Code: SRK) 2 if applicable) 30 June 2008 Options 14,847,922 each option $0.20 (30 June 2008) provides the right to Options subscribe for one SRK share at a cost of 20 cents per share, on or before 5.00pm WST on 30 June 2008 (ASX Code: SRKO)

+ See chapter 19 for defined terms.

	Number	+ Class
Number and + class of all Refer Table A
*securities not quoted on ASX(including the securities in clause 2 if applicable)

TABLE A - RECONCILIATION OF QUOTED AND UNQUOTED SECURITIES:

The Company currently has the following securities on issue:

	Ouoted /To be Quoted	Not Ouoted /Subject toEscrow	Total
Fully paid ordinary shares	64.371.244		64.371.244
$0.20 (30 June 2008) Options	14,847,922	$\blacksquare$	14,847,922
$0.20 (9 February 2011) Hume Options		1,833,333	1,833,333
$0.30 (9 February 2011) Hume Options		1,666,667	1,666,667
$0.96 (21 July 2011) Directors' Options	٠	4,600,000	4,600,000
$0.96 (13 September 2011) Directors' Options	٠	500,000	500,000
$1.20 (6 October 2011) Employee Options		150,000	150,000

$10^{\circ}$ Dividend policy (in the case of a $\lceil$ trust, distribution policy) on the increased capital (interests)

Same rights as other fully paid ordinary shares on issue.

Part 2 - Bonus issue or pro rata issue

$\mathbf{11}$	Is security holder approval $N/A$required?required?
$12^{\circ}$	Is the issue renounceable or non- $N/A$renounceable?
13	Ratio in which the "securities will $N/A$be offered
14	$\pm$ Class of $\pm$ securities to which the N/Aoffer relates
15	determine $N/A$*Recorddate10entitlements

+ 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 notbe sentnewissuedocuments	N/A
	Note: Security holders must be told how theirentificments are to be dealt with.Cross reference: rule 7.7.
19	оfClosingdateforreceiptacceptances 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	of any handlingfeeAmountpayable to brokers who lodgeacceptances or renunciations onbehalf of *security holders	N/A
25.	If the issue iscontingent on"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.

on expiry or conversion of convertible securities

30	How do $\pm$ security holders sell their entitlements 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 dispose	'N/A
	of their entitlements (except by salethrough a broker)?
33	+ Despatch date	N/A

Part 3 - Quotation of securities

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

34Type of securities(iick one)
		(a) $\bigvee$ Securities described in Part 1
		$(b)$ All other securitiesExample: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employeeincentive 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
• 36 If the "securities are "equity securities, a distribution schedule of the additional *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ $5,001 - 10,000$ $10,001 - 100,000$ 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 *securitiesforwhichquotation 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 doextent10 2whichthe .theyparticipate for the next dividend,caseοf(inthe .$\mathbf{a}$trust.distribution) or interest paymentthe extent to which they do notrank 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 periodconversion of(ifìssueduponanother 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.

Ouotation agreement

• $\mathbf{f}$ *Quotation 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 $\bullet$ an illegal purpose.
  • There is no reason why those *securities should not be granted *quotation. $\bullet$
  • An offer of the "securities for sale within 12 months after their issue will $\bullet$ 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 $\bullet$ 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 $\bullet$ *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• $\mathfrak{Z}$ 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: 6 March 2007
	(Company Secretary)

Print name: VICTOR HO

+ See chapter 19 for defined terms.