Acquistion

On the 16th of November 2010 Australis Mining Ltd (Australis) reached an agreement to purchase Sociedad Contractual Minera Vallenar Iron Company (VIC) from Admiralty Resources (ADY). The agreement was approved by the shareholders of Admiralty Resources at the Extraordinary General Meeting held on the 29th of October 2010 making Australis Mining Ltd the exclusive owner of SCM Vallenar Iron Company.