options announcement

1 May 2007 ASX ANNOUNCEMENT

Non-renounceable Entitlements Issue

As indicated in the November 2006 prospectus the Directors committed to an offer of options
to shareholders of the company approximately 3 months after the company's listing on ASX.

Today the Directors have lodged a prospectus with ASIC and ASX for a pro-rata non-
renounceable entitlement offer of options at an issue price of one cent ($0.01) each to
shareholders, on the basis of one option for every 2 shares held at 5pm WST on 7 May 2007
(‘Record Date’).

The principal purpose of the offer is to provide a benefit to shareholders who have retained
their shares through to the Record Date by enabling them to acquire options to subscribe for
additional shares in the Company at an exercise price of 25 cents each and an expiry date of 30
June 2009.

Assuming all shareholders accept their full entitlements the company will raise approximately
$277,000 from the offer (before costs of the offer). These funds will be applied initially
towards the costs of the offer with the balance to be applied towards working capital.

The closing date for acceptance of the offer is 11 June 2007. The issue is fully underwritten.
However, the Directors recommend that all shareholders take up their entitlements.

Shareholders should review carefully the risks set out at Section 8 of the Prospectus, which
will be mailed to all shareholders, and those in the November 2006 Prospectus.

The Directors take this opportunity to thank shareholders for their support since the Company's
listing on ASX and look forward to your continued support in the future.

For further details, please contact:

David Sargeant – Managing Director 08-6250-9415

Adrian Jessup – Executive Director 08-6250-9414

PRINCIPAL AND REGISTERED OFFICE
14/16 Twickenham Road Tel: +61 (0)8 6250-9415
Burswood WA 6100 Fax: +61 (0)8 6250-9449