Fellow Shareholders,I commend hagar1, kingsmill, buddy134,...

Fellow Shareholders,

I commend hagar1, kingsmill, buddy134, rod63, elguido, keithsmum, emma, ect. for their eye opening and informative postings. Thanks to these persons, all of the shareholders now know that Admiraltys board received a superior proposal from Hebei Wenfeng Iron & Steel and failed to disclose the existence of this proposal to the shareholders in addition to misleading the shareholders on Hebei Wenfengs ability to fulfill its obligations under its proposal.

I think that Mr. Prior?s actions in failing to extend proper and fair consideration to Hebei Wenfengs, failing to disclose the existence of said proposal to the shareholders plus misrepresenting Hebei Wenfengs ability to fulfill its obligations in relation to the proposal to the shareholders as constituting inexcusable, unforgivable and intolerable behavior for which Mr. Prior, should be held accountable for. This unacceptable behavior in my opinion has eroded both the current and future value of the shareholders investment in Admiralty. What started as the search for a joint venture partner with Admiralty in VIC turned into (without the knowledge much less the consent of the shareholders) an outright sale of 100% of VIC including I estimate, 70% of Admiraltys total Chilean assets at an unacceptably low price to a mysterious BVI company backed by an equally mysterious Hong Kong company in which Mr. Priors mates and by his own admission clients of his accounting firm have some form of participation and/or interest in. The agreement that Admiraltys directors signed with Icarus and Corsair is a far cry from a joint venture agreement. I, therefore, agree whole heartedly with the opinion that IT?S TIME TO GET RID OF MR. PRIOR. I also hold Mr. Harper and Mr. Perry accountable for supporting Mr. Prior?s behavior and accordingly at the upcoming AGM; I will not be voting in favor of either Mr. Priors or Mr. Perry?s re-election as directors of Admiralty and I encourage every sane minded shareholder to do likewise.

I am a pensioner and to date; I have lost over $ 38,000 with my investment in Admiralty. Naturally I would like to be afforded the opportunity to recover my losses and perhaps even profit from my investment in Admiralty and it is very obvious that in order to achieve this objective; Admiraltys leadership must change.