ZOONO GROUP LIMITED — Capital/Financing Update 2004

Jul 18, 2004

Level 4 20 Loftus Street SYDNEY NSW 2000

Telephone: (02) 9241 5999 Fax: (02) 9241 5599 email: gold@goldsearch.com.au

ash/psh/ash603

19 July 2004

The Manager Company Announcements Office Australian Stock Exchange Limited Level 4, 20 Bridge Street SYDNEY NSW 2000 Via ASX Online

No. of pages - 1

Dear Sir.

Re: Expiry of options

The directors of Goldsearch Limited advise that a total of 13,500,000 unquoted options held by directors and consultants expired on 15 July 2004 and accordingly are of no further force or effect.

Following expiry of these options the total issued securities of the Company are:

Quoted securities:

182,459,348 ordinary fully paid shares 36,491,869 options exercisable at 8 cents each and expiring 30 September 2005

Unquoted securities: NII

For and on behalf of the directors of Goldsearch Limited

P S Hewson Secretary