STRIKE RESOURCES LIMITED — Capital/Financing Update 2009

Nov 25, 2009

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).

1	+Class of +securities issued or to beissued	(a)	$2.50 (24 November 2012) UNLISTEDDIRECTOR'S OPTIONS
		(b)	$2.75 (24 November 2012) UNLISTEDDIRECTORS' OPTIONS
		(c)	$3.25 (24 November 2012) UNLISTEDDIRECTORS' OPTIONS
2	Number of +securities issued or to be	(a)	750,000
	issued(ifknown)ormaximumnumber which may be issued	(b)	750,000
		(c)	750,000

+ See chapter 19 for defined terms.

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)

(a) $2.50 exercise price;

• (b) $2.75 exercise price;
• (c) $3.25 exercise price;

For both (a), (b) and (c):

• (i) exercisable at any time on or before 24 November 2012;
• (ii) 100% of the options will vest at the date of issue;

(iii) Otherwise issued on terms and conditions disclosed in the Notice of Annual General Meeting and Explanatory Statement dated 15 October 2009 for an annual general meeting held on 25 November 2009.

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

5 Issue price or consideration Nil

• 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)
• 7 Dates of entering +securities into uncertificated holdings or despatch of certificates

New class of options.

Shares issued upon exercise of options has same rights as other fully paid ordinary shares on issue.

Grant of options to a Director pursuant to shareholder approval on 25 November 2009

(refer Notice of Annual General Meeting and Explanatory Statement dated 15 October 2009)

25 November 2009

Number +Class

+ See chapter 19 for defined terms.

• 8 Number and +class of all +securities quoted on ASX (including the securities in clause 2 if applicable)
• 9 Number and +class of all +securities not quoted on ASX (including the securities in clause 2 if applicable)

8	+classNumberandofall+securitiesquotedonASX(including the securities in clause2 if applicable)	130,034,268(also refer Table A)	ORDINARY(ASX Code: SRK)
		Number	+Class
9	+classNumberandofall+securities not quoted on ASX(including the securities in clause2 if applicable)	Refer Table A

TABLE A - RECONCILIATION OF QUOTED AND UNQUOTED SECURITIES:

The Company currently has the following securities on issue:

	Quoted	Not Quoted	Total
	on ASX	on ASX
Fully paid ordinary shares	130,034,268	-	130,034,268
$0.178 (9 February 2011) Unlisted Options	-	1,833,333	1,833,333
$0.278 (9 February 2011) Unlisted Options	-	1,666,667	1,666,667
$0.938 (20 July 2011) Directors' Options	-	4,600,000	4,600,000
$0.938 (12 September 2011) Unlisted Director's Options	-	500,000	500,000
$1.178 (5 October 2011) Unlisted Employee's Options	-	150,000	150,000
$2.078 (6 March 2012) Unlisted Director's Options	-	500,000	500,000
$2.788 (6 March 2012) Unlisted Directors' Options	-	3,300,000	3,300,000
$2.878 (30 April 2012) Unlisted Employees' Options	-	133,000	133,000
$2.878 (4 September 2012) Unlisted Employee's Options	-	200,000	200,000
$2.878 (16 November 2012) Unlisted Employee's Options	-	250,000	250,000
$3.978 (2 December 2012) Unlisted Directors' Options	-	4,000,000	4,000,000
$2.878 (3 March 2013) Unlisted Employee's Options	-	250,000	250,000
$2.75 (29 July 2011) Unlisted Options	-	903,404	903,404
$2.75 (13 October 2013) Unlisted Employee's Options	-	250,000	250,000
$2.50 (24 November 2012) Unlisted Directors' Options	-	750,000	750,000
$2.75 (24 November 2012) Unlisted Directors' Options	-	750,000	750,000
$3.25 (24 November 2012) Unlisted Directors' Options	-	750,000	750,000
Total	130,034,268	20,786,404	150,820,672

10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

N/A

Part 2 - Bonus issue or pro rata issue

11	Issecurityholderapprovalrequired?	N/A
12	Is the issue renounceable or nonrenounceable?	N/A
13	Ratio in which the +securities willbe offered	N/A
14	+Class of +securities to which theoffer relates	N/A
15	+Recorddatetodetermineentitlements	N/A
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 whowillnotbesentnewissuedocuments	N/A
	Note: Security holders must be told how theirentitlements are to be dealt with.Cross reference: rule 7.7.
19	Closingdateforreceiptofacceptances 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	Amountofanyhandlingfeepayabletobrokerswholodgeacceptances or renunciations onbehalf of +security holders	N/A
25	Iftheissueiscontingenton+securityholders'approval,thedate of the meeting	N/A

+ See chapter 19 for defined terms.

• 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled
• 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) N/A
• 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)?

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 Type of securities (tick one)

(a) 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

N/A

N/A

N/A

N/A

+ See chapter 19 for defined terms.

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	those holders	If the +securities are +equity securities, the names of the 20 largest holders of theadditional +securities, and the number and percentage of additional +securities held by
36	+securities setting out the number of holders in the categories1 - 1,0001,001 - 5,0005,001 - 10,00010,001 - 100,000100,001 and over	If the +securities are +equity securities, a distribution schedule of the additional
37	A copy of any trust deed for the additional +securities
	Entities that have ticked box 34(b)
38	Number of securities for whichN/A+quotation is sought
39	+securitiesClassofforwhichN/Aquotation is sought
40	Do the +securities rank equally in allN/Arespects 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•theextenttowhichtheyparticipate for the next dividend,(inthecaseofatrust,distribution) or interest payment•the extent to which they do notrankequally,otherthaninrelation to the next dividend,distribution or interest payment

+ See chapter 19 for defined terms.

41	Reason for request for quotationnow	N/A
	Example: In the case of restricted securities, end ofrestriction period
	(ifissueduponconversionofanother security, clearly identify thatother security)

42					Number and +class of all +securities
	quoted	on	ASX	(including	the
	securities in clause 38)

	Number	+Class
Number and +class of all +securities42quotedonASX(includingthesecurities in clause 38)	N/A

+ See chapter 19 for defined terms.

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.
• 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.
• 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.
• 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: 26 November 2009
	(Company Secretary)

Print name: VICTOR HO

== == == == ==

+ See chapter 19 for defined terms.