exercise of options

The Manager
Company Announcements
Australian Stock Exchange Limited
Level 4
20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam
OPTION EXPIRY NOTICE
The directors of Australasian Resources Ltd (ASX: ARH) wish to advise the following unlisted options are due to expire on 17 June 2008:
Description
Number
Options exercisable at $0.376
1,494,681
The Company has despatched an Option Expiry Notice to the holder of the unlisted options due to expire on 17 June 2008.
For and on behalf of Australasian Resources Ltd
Grant Ryan
Company Secretary