STRIKE RESOURCES LIMITED — Share Issue/Capital Change 2007

Apr 9, 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 $\mathbf{1}$ issued

• $\overline{2}$ 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)

3.000.000

Same rights as other fully paid ordinary shares on issue.

+ See chapter 19 for defined terms.

Same rights as other fully paid ordinary shares on

As part consideration elected by Strike to be satisfied by the issue of shares, pursuant to an agreement executed 2 February 2007 between Strike, Minera los Andes y el Pacífico S.A. (MAPSA) and the shareholders of MAPSA whereby Strike acquired a 70% shareholding interest in Iron Associates Corporation. a company which holds all of the shares in Apurimac Ferrum S.A (AF) currently held by MAPSA and not subject to

Strike's option under the AF Agreement1.

$\Delta$ 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 $\bullet$ 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

• $\overline{5}$ Issue price or consideration

• Purpose of the issue 6 (If issued as consideration for the acquisition of assets, clearly identify those assets)

• $\overline{7}$ Dates of entering *securities into uncertificated holdings or despatch of certificates

Refer Above in (5)

issue.

28 March 2007

$\mathbf{1}$

An agreement dated 2 July 2006 between Strike and Peruvian companies, Apurimac Ferrum S.A. (AF), MAPSA and D&C Pesca S.A.C. (D&C) (and a more formal shareholders' agreement executed on 10 November 2006) (the AF Agreement)

+ See chapter 19 for defined terms.

		Number	$\pm$ Class
8	Numberand + classof -all*securitiesASX.quotedon	67,723,453	ORDINARY
	(including the securities in clause2 if applicable)	(also refer Table A)	(ASX Code: SRK)
		14,495,714	30 June 2008 Optionsoptioneach$\omega$
		$0.20 (30 June 2008)Options	provides the right tosubscribe for one
			SRK share at a costof 20 cents per share,
			on or before 5.00pm
			WST on 30 June2008
			(ASX Code: SRKO)
		Number	+ Class
	Number*class --of-and	all I Refer Table A

9 *securities not quoted on ASX (including the securities in clause 2 if applicable)

	presented to the contract of
Number	+ Class
Refer Table A

TABLE A - RECONCILIATION OF QUOTED AND UNQUOTED SECURITIES:

The Company currently has the following securities on issue:

	Ouoted /To be Quoted	Not Quoted /Subject toEscrow	Total
Fully paid ordinary shares	67,723,453		67,723,453
$0.20 (30 June 2008) Options	14,495,714		14,495,714
$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		4,600,000	4,600,000
$0.96 (13 September 2011) Directors' Options		500,000	500,000
$1.20 (6 October 2011) Employee Options		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
TOTAL			94.769.167

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

Same rights as other fully paid ordinary shares on issue.

+ See chapter 19 for defined terms.

Part 2 - Bonus issue or pro rata issue

$\mathbf{11}$	approvalsecurityholderIsrequired?	N/A
12	Is the issue renounceable or non-renounceable?	N/A
13	Ratio in which the "securities willbe offered	N/A
14	*Class of *securities to which theoffer relates	N/A
15	*Recorddeterminedatetoentitlements	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 whowillnotbeissuesentnewdocuments	N/A
	Note: Security holders must be told how theirentitlements are to be dealt with.Cross reference: rule 7.7.
19	ofClosingdateforreceiptacceptances 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	any handlingfeeofAmountbrokers who lodgepayable toacceptances or renunciations onbehalf of *security holders	N/A
25	If the issue iscontingenton*security holders'approval,thedate of the meeting	N/A

+ See chapter 19 for defined terms.

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
30	How do *security holders sell theirentitlements in full through$\mathbf{a}$broker?	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 Type of securities $(iick one)$
• Securities described in Part 1 $(a)$
• $(b)$

All other securities

Example: 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 conve

+ 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.	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
  • A copy of any trust deed for the additional *securities

Entities that have ticked box 34(b)

37

Number of securities for which38* quotation is sought	N/A
Class of *securities for which39.quotation is sought	-N/A
Do the *securities rank equally in all40respects 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 doextent to whichthetheyparticipate for the next dividend,$(in$ theof a trust,casedistribution) or interest paymentthe extent to which they do notrank equally, other than inrelation to the next dividend,distribution or interest payment	N/A

+ See chapter 19 for defined terms.

41	Reason for request for quotation $N/A$now
	Example: In the case of restricted securities, end ofrestriction period
	(if issued upon conversion ofanother security, clearly identify thatother security)

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

	Number	+Class
Ś.	N/A
Ć

+ See chapter 19 for defined terms.

Quotation agreement

• $\mathbf{I}$ *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 $\bullet$ 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: 5 April 2007
	(Company Secretary)

Print name: VICTOR HO

$= 1.42$

+ See chapter 19 for defined terms.