TREK METALS LIMITED — Capital/Financing Update 2011

Aug 7, 2011

ZAMBEZI RESOURCES LIMITED ARBN: 124 462 826

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BERMUDA ZAMBIA AUSTRALIA CANON’S COURT PLOT 5697 LEVEL 1, 17 ORD STREET 22 VICTORIA STREET BEU CRESCENT WEST PERTH, WESTERN AUSTRALIA HAMILTON HM12 KALUNDU AUSTRALIA 6005 LUSAKA TEL: +61 8 6555 1879 TEL: +260 211 292101 FAX: +61 8 9398 4104 EMAIL: INFO@ZAMBEZIRESOURCES.COM PO BOX 1796, WEST PERTH WWW.ZAMBEZIRESOURCES.COM WESTERN AUSTRALIA, 6872

8 August 2011

James Rowe Manager, Issuers ASX Limited

Dear James

Zambezi Resources Limited Notice under section 708AA(2)(f) of the Corporations Act

This notice is given by Zambezi Resources Limited ACN 124 462 826 (ASX: ZRL) ( Zambezi ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Act ) as modified by Australian Securities and Investments Commission Class Order [CO 08/35] ( CO 08/35 ).

Zambezi announced on 25 July 2011 a non-renounceable entitlement offer ( Entitlement Offer ) of 1 ordinary Zambezi share ( New Share ) for every 5 ordinary Zambezi shares held on 16 August 2011 by eligible shareholders with a registered address in Australia or New Zealand.

Zambezi advises that:

• (a) the New Shares will be offered for issue without disclosure under Part 6D.2 of the Act as modified by CO 08/35;

• (b) this notice is being given under section 708AA(2)(f) of the Act as modified by CO 08/35;

• (c) as at the date of this notice, Zambezi has complied with:

• (1) the provisions of Chapter 2M of the Act as they apply to Zambezi; and

• (2) section 674 of the Act;

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Act as modified by CO 08/35; and

• (e) the issue of New Shares under the Entitlement Offer is not expected to have any material effect or consequence on the control of Zambezi.

Yours sincerely

Frank Vanspeybroeck Chief Executive Officer Zambezi Resources Limited