ANNOUNCEMENTS

2004 Announcements

15 December, 2004

Alexander Resources Limited (Alexander) has advised that the closing date for all applications, including applications by Austindo Resources shareholders for their priority entitlement to shares in the Alexander Resources Limited IPO, has been extended to 4 February 2005.

Alexander is currently preparing a Supplementary Prospectus to address some concerns raised by the Australian Securities and Investments Commission (“ASIC”). It is anticipated that this Supplementary Prospectus will be settled and lodged with ASIC during next week.

Alexander has three project areas in the world class Bendigo goldfields and central Victoria, an area that produced about 60 million ounces of gold. The Company has identified shallow targets ready to be drilled as soon as funds from the IPO become available.

Yours faithfully


Ian L. Price
Managing Director
15 December 2004

09 December, 2004

Alexander Resources Limited (Alexander) has advised that the closing date for applications by Austindo Resources shareholders for their priority entitlement to shares in the Alexander Resources Limited IPO has been extended to 16th December 2004 being the closing date of the IPO.

There have been some delays in the general mailing system and some Austindo Shareholders may have only recently received their copy of the prospectus.

Alexander has three project areas in the world class Bendigo goldfields and central Victoria, an area that produced about 60 million ounces of gold. The company has identified shallow targets for 250,000 to 500,000oz gold ore bodies and six of these are ready to be drilled as soon as funds from the IPO become available.


Yours faithfully

Ian L. Price
Managing Director
9 December 2004

18 November, 2004

Austindo Resources Corporation NL ("Austindo") is pleased to announce that a prospectus has been lodged with ASIC for the Initial Public Offer ("IPO") of Alexander Resources Limited ("Alexander").

Alexander is an exploration company focussed on discovering and developing gold deposits in Victoria and holds or has interests in exploration tenements covering the Castlemaine, Tarnagulla and Sebastian goldfields located in central Victoria.

The IPO is to raise $5 million dollars through an offer of 25,000,000 shares at an issue price of 20 cents (together with the issue of 12,500,000 free attaching options) with a minimum subscription of $3 million dollars. The IPO is scheduled to close on 16 December 2004 following which Alexander will apply for admission to the Official List of the Australian Stock Exchange and quotation of these shares and options (ASX share code - AXD).

Shareholders of Austindo on the record date of 26 November 2004 will have a priority entitlement to participate in the IPO on the basis of 1 new Alexander share for every 22 Austindo shares held and in addition Austindo shareholders with less than 220,000 shares will be entitled to round up to a minimum parcel size of 10,000 new Alexander shares. Austindo shareholders will receive the Alexander Prospectus with an accompanying entitlement and acceptance form in respect of their priority entitlement in the near future.

Austindo will retain at least a 37% interest in Alexander following completion of the IPO (assuming that Alexander raises $5million).

Yours faithfully


Ian L. Price
Managing Director
18 November 2004

29 October, 2004

Austindo Resources Completes Placement to raise $3 million

Following shareholder approval at a General Meeting held in Melbourne on 11 October 2004 Austindo Resources Corporation NL ("ARX") is pleased to confirm that it has finalised the placement of 70.0 million shares at 4.3 cents per share.

This additional working capital, will be applied to fund the Company through the pre-implementation phase of its 83.76% owned Cibaliung Gold Project in Banten Province, Indonesia.

The placement was made to the Company's major shareholders and other parties determined by the Directors.

In accordance with ASIC Class Order 02/1180, which provides relief from certain prospectus requirements, the Company confirms that there is no price sensitive information which has not been announced by the Company to the ASX in reliance upon the confidentiality carve out in Listing Rule 3.1.

Yours sincerely


Ian L. Price
Managing Director
29 October 2004

11 October, 2004

Company Update

11 October, 2004

Outcome of General Meeting

The Company's General Meeting was today held in Melbourne in accordance with the Notice of Meeting issued to all shareholders.

The resolution to approve a share placement of 29,918,000 ordinary fully paid shares to related parties of the Company was passed by a show of hands.

Proxy details in respect of this resolution were as follows:

1. there were 76,091,235 proxy votes in respect of which the appointments specified that the proxy vote for the resolution;
2. there were 1,009,418 proxy votes in respect of which the appointments specified that the proxy vote against the resolution;
3. there were 21,100 proxy votes in respect of which the appointments specified that the proxy abstain on the resolution;
4. there were 40,976,297 proxy votes in respect of which the appointments specified that the proxy may vote at the proxy's discretion;

The resolution to approve a share placement of 40,082,000 ordinary fully paid shares to un-related parties of the Company was passed by a show of hands.

Proxy details in respect of this resolution were as follows:

1. there were 209,424,241 proxy votes in respect of which the appointments specified that the proxy vote for the resolution;
2. there were 1,009,418 proxy votes in respect of which the appointments specified that the proxy vote against the resolution;
3. there were 121,100 proxy votes in respect of which the appointments specified that the proxy abstain on the resolution;
4. there were 6,566,564 proxy votes in respect of which the appointments specified that the proxy may vote at the proxy's discretion;

Yours sincerely


Andrew J Cooke
Company Secretary

06 October, 2004

Change of Principal Place of Business  

Austindo Resources Corporation NL (“ARX”) advises that it has changed its principal place of business to:

Level 8
459 Collins Street
Melbourne VIC 3000

The telephone and fax remain unchanged:

Tel: (03) 9620 3110
Fax: (03) 9620 3123


Yours sincerely

Andrew J. Cooke
Company Secretary

08 September, 2004

NOTICE is hereby given that a general meeting of shareholders of Austindo Resources Corporation NL ("the Company") will be held at

3.00pm (Melbourne time) on
Monday 11 October 2004
at Level 39, 101 Collins Street, Melbourne Vic 3000.

BUSINESS

Resolution 1: Approval of share placements to related parties

To consider, and if thought fit, to pass the following resolution as an ordinary resolution:

"That approval is given, under Australian Stock Exchange Listing Rule 10.11, for the Company to issue to the related parties of the Company specified below the number of ordinary fully paid shares in the capital of the Company specified below, each at an issue price of 4.3 cents per share:

such shares to be issued to those related parties by no later than one month after the date of this meeting."

Note: If approval is given in Resolution 1 under Listing Rule 10.11, approval is not required under Listing Rule 7.1.

Voting restrictions on Resolution 1

The Company will disregard any votes cast on Resolution 1 by:

• PT Austindo Nusantara Jaya and Genview Holdings Pte Limited; and
• an associate of any of those persons.

However, the Company need not disregard a vote if:

• it is cast by a person as proxy for a person who is entitled to vote, in accordance with the directions on the proxy form; or
• it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with a direction on the proxy form to vote as the proxy decides.

Resolution 2: Approval of share placements to other parties

To consider, and if thought fit, to pass the following resolution as an ordinary resolution:

"That approval is given, under Australian Stock Exchange Listing Rule 7.1, for the Company to issue up to 40,082,000 ordinary fully paid shares in the capital of the Company at an issue price of 4.3 cents per share, to such persons (other than related parties of the Company) as determined on by the directors of the Company, such shares to be issued to such persons by no later than 3 months after the date of this meeting."

Voting restrictions on Resolution 2

The Company will disregard any votes cast on Resolution 2 by:

• a person who may participate in the proposed issue of shares; and
• a person who might obtain a benefit, except a benefit solely in the capacity of a holder of ordinary shares in the Company, if Resolution 2 is passed; and
• an associate of any of those persons.

However, the Company need not disregard a vote if:

• it is cast by a person as proxy for a person who is entitled to vote, in accordance with the directions on the proxy form; or
• it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with a direction on the proxy form to vote as the proxy decides.

By order of the Board


Andrew J Cooke
Company Secretary
Dated: 8 September 2004

EXPLANATORY STATEMENT

1. INFORMATION RELEVANT TO BOTH RESOLUTIONS

Raising of funds for the Company

1.1 Your Directors are proposing to raise funds for the Company by means of issues of ordinary fully paid shares by means of placements of up to 70,000,000 shares:

(i) as to 29,918,000 shares between 2 specified "related parties" of the Company, being the largest shareholder in the Company and another company related to a director (which placements are the subject of Resolution 1); and

(ii) as to the remaining 40,082,000 shares between other existing major shareholders or other selected investors as may be determined by your Directors (which placements are the subject of Resolution 2).

1.2 The Company announced on 25 August 2004 that it proposed to effect a capital raising by way of placements of up to 70,000,000 ordinary shares at an issue price of 4.3 cents per share.

1.3 If all 70,000,000 shares are issued, the funds raised by such placements will be a gross amount of $3,010,000.

1.4 Subject to shareholder approval of Resolution 1 the allotment of up to 29,918,000 shares to related parties will be effected within 7 days after such resolution is passed.

1.5 Prior to the date of the general meeting being the subject of this Notice of Meeting and Explanatory Statement the Directors will seek the commitment of other existing major shareholders or other selected investors to participate in the placement of the 40,082,000 shares (which placements are the subject of Resolution 2). The allotment of these shares will be effected at the same time as the allotment of shares pursuant to Resolution 1. Any balance will be allotted progressively within 3 months after the date of the meeting.

Use of funds raised

1.4 The sum of $3,010,000 to be raised from the placements referred to in paragraph 1.1 above will be used by the Company to fund the Company through the pre-implementation phase of its 83.76% owned Cibaliung Gold Project in Banten Province, Indonesia and to meet the Company's working capital requirements at Cibaliung while project funding is put in place.

Increases in share capital

1.5 At the date of the Notice of General Meeting there are 492,299,667 ordinary fully paid shares in the capital of the Company on issue.

1.6 The placements referred to in paragraph 1.1 above totalling 70,000,000 represent 14.2% of 492,299,667, and will take the number of shares on issue to 562,299,667.

2. RESOLUTION 1: APPROVAL OF SHARE PLACEMENTS TO RELATED PARTIES

Listing Rule 10.11

2.1 Listing Rule 10.11 requires shareholder approval for the issue of equity securities to a "related party" of the Company. Resolution 1 is proposed for this purpose.

Related parties - ANJ and Genview

2.2 The 2 named related parties of the Company in Resolution 1 are PT Austindo Nusantara Jaya ("ANJ") and Genview Holdings Pte Ltd ("Genview") to whom a total of 29,918,000 million shares are proposed to be issued, thereby raising $1,286,474.

2.3 ANJ is a "related party" of the Company by reason of the fact that it is regarded as the controlling entity of the Company by virtue of it being the registered holder of 41.64% of the current issued share capital of the Company. Further, it is a "related party" of the Company by reason of the fact that one of the directors of the Company, Mr George Tahija, is a director of ANJ and has a direct and indirect controlling interest in ANJ.

2.4 Genview is a "related party" of the Company by reason of the fact that it is a self-declared associate of ANJ. Genview is the registered holder of 1.10% of the current issued share capital of the Company. The brother of Mr George Tahija, Dr Sjakon Tahija, is a director of Genview and has a direct and indirect controlling interest in Genview.

2.5 If shareholders approve both Resolution 1 and Resolution 2 and the whole of the 70,000,000 shares are placed and issued on the one day, the combined voting power of ANJ and its associate Genview will not change from 42.7% of the current issued share capital of the Company and will remain at 42.7% of the expanded capital of the Company.

Terms of issue

2.7 The shares to be issued to those 2 related parties of the Company will be issued by no later than one month after the date of the general meeting.

2.8 The new shares, when issued, will have the same rights and rank equally with the existing ordinary fully paid shares of the Company.

2.9 The intended use of the funds raised by means of the issue of shares referred to in Resolution 1 is described in paragraph 1.4 above.

Recommendation on Resolution 1

2.10 Of the directors of the Company, Mr George Tahija is the subject of Resolution 1, and does not for that reason make a recommendation in relation to Resolution 1.

2.11 Each of the remaining directors, Pieter Greeff, Ian Price, John Carlile, Christopher Melloy, and Bruce Paterson, recommends that shareholders vote in favour or Resolution 1 as it authorises a material part of the fund raising required by the Company for the purposes set out in paragraph 1.4 above.

Voting restrictions on Resolution 1

2.12 There are voting restrictions in relation to Resolution 1, the terms of which are set out immediately after the text of Resolution 1 in the Notice of General Meeting.

3. RESOLUTION 2: APPROVAL OF SHARE PLACEMENTS TO OTHER PARTIES

Listing Rule 7.1

3.1 Under Listing Rule 7.1 your Directors, in effect have the authority to make placements of up to 15% of the issued share capital of the Company without having to obtain shareholder approval.

3.2 As noted in paragraph 1.9 above, the placements the subject of Resolutions 1 and 2 total 70,000,000 and represent 14.2% of the current shares on issue. If Resolution 1 is approved it has the added effect of being an issue of shares approved under Listing Rule 7.1. The purpose of Resolution 2 is, therefore, to refresh the full 15% authority of your directors referred to in paragraph 3.1 above.

3.3 If Resolution 2 is not passed your directors would still be permitted to make the placements referred to in Resolution 2. However, another impact of Resolution 2 not being passed is that it restricts the authority of your directors to make further placements until the formula in Listing Rule 7.1, and lapse of time, allows your directors to do so.

Terms of issue

3.4 Under Resolution 2, the maximum number of shares to be issued is 40,082,000. Those shares will be placed at 4.3 cents per share. The shares will be issued by no later than 3 months after the date of the general meeting.

3.5 The names of the persons to whom the shares will be placed pursuant to the authority in Resolution 2 have not been finalised at this stage. It is anticipated that these shares will be placed with existing major shareholders or other selected investors as may be determined by your Directors, however, they will not include any "related party" of the Company. In other words, they will not include any director of the Company, any specified members of the family of a director of the Company, ANJ, Genview, or any other company under the control of any director (or their family) of the Company.

3.6 The new shares, when issued, will have the same rights and rank equally with the existing ordinary fully paid shares of the Company.

3.7 The intended use of the funds raised by means of the issue of shares referred to in Resolution 2 is described in paragraph 1.4 above.

Recommendation on Resolution 2

3.8 Of the directors of the Company, Mr. Chris Melloy, who is associated with Lion Selection Group Limited and AuSelect Limited, who have both confirmed they will participate in the placement of shares being the subject of Resolution 2, does not for that reason make a recommendation in relation to Resolution 2.


3.9 Each of the remaining directors, Pieter Greeff, Ian Price, George Tahija, John Carlile and Bruce Paterson, recommends that shareholders vote in favour of Resolution 2 as it authorises a material part of the fund raising required by the Company for the purposes set out in paragraph 1.4 above.

3.10 Each of ANJ and Genview, which together hold 42.7% of the current issued share capital of the Company, have advised the Company that, if Resolution 1 (on which ANJ and Genview are not permitted to vote) is passed, they will vote in favour of Resolution 2.

Voting restrictions on Resolution 2

3.11 There are voting restrictions in relation to Resolution 2, the terms of which are set out immediately after the text of Resolution 2 in the Notice of General Meeting.

3.12 If you are a person who is likely to participate in the placement of shares then that potential participant, and any associate of that potential participant, should refrain from voting on Resolution 2.

03 September, 2004

The Directors of Austindo Resources Corporation NL ("Austindo") have decided that the public will be offered shares in its subsidiary, Alexander Resources Limited ("Alexander"), through an Initial Public Offering ("IPO") and listing of Alexander will be sought on the Australian Stock Exchange. The Alexander IPO will raise $5 million with provision for over subscriptions and it is proposed this will be completed and listing sought before the end of 2004.

• Alexander holds significant and strategic exploration and mining licence areas in the central Victorian Goldfields around Bendigo.

• Austindo shareholders will be offered a priority entitlement to purchase shares in Alexander and Austindo will retain a substantial shareholding in the listed company.

The float and listing of Alexander will be another important step in the development of Austindo from a purely exploration company to a producing gold miner.

As a separate listed entity with its own management and funding, Alexander will be able to focus on the exploration of its Victorian properties.

Austindo will in turn focus on the development of the Cibaliung Gold Mine and its plan to utilize its unique status in Indonesia to acquire and develop other new gold projects in Indonesia. The development of the Cibaliung Project is a critical step in the Company's evolution to gold producer status and will be a significant milestone for its shareholders.

This strategy is strongly supported by Austindo's major shareholders. Mr Robin Widdup of Lion Group (13.6%) said, "The proposal to float Alexander and for Austindo to focus on Indonesia is the most appropriate way to crystallize value for Austindo shareholders."

Alexander holds exploration and mining tenements over the entire Castlemaine goldfield (Chewton Project) and other exploration tenements under joint venture to the north of Bendigo (Sebastian Project). Recently Alexander has entered into a heads of agreement with Tarnagulla Resources Limited to acquire full ownership of the tenements covering the Tarnagulla goldfield (Tarnagulla Project).

Alexander's three Project areas lie within the Bendigo zone which is an outstanding, world-class gold province that has historically contributed an estimated 2,000 tonnes of gold or 2% of the global gold supply. Alexander geologists have developed an exploration strategy and a predictive geological model for the Chewton and Sebastian Projects by utilising state of the art, high technology computer modelling of the historical Wattle Gully database and incorporating it with newly acquired geophysical and geological data from the Victorian Government's Initiative for Minerals and Petroleum ("VIMP"). At Tarnagulla, detailed structural interpretation, mapping and interpretation of air borne magnetic and radiometric surveys has refined the exploration targeting methodology. This has enabled a number of exploration targets to be identified in all three Project areas and it is anticipated that drilling will commence promptly after completion of the IPO.

Mr Ian Goudie has been appointed Executive Chairman of Alexander. Mr Goudie is a geologist with a career in mineral exploration and mine operations before taking on senior executive roles in the Rio Tinto Group and other listed companies. He was Chief Executive of Niugini Mining Limited before its takeover.

Alexander intends to raise $0.5 million of private equity as working capital to carry the Company through the IPO process and to listing on the ASX. Quotient Capital has been appointed as corporate advisors to Alexander and will coordinate the raising of private capital and distribution of shares in the IPO.

Yours sincerely


Ian L. Price
Managing Director
3 September 2004

Austindo Resources Corporation NL ("ARX") is pleased to announce the completion and acceptance by the Joint Venture of the Bankable Feasibility Study ("BFS") for the Cibaliung Gold Project.

The Project is located in the Province of Banten in west Java, Indonesia and is operated through a joint venture company - PT Cibaliung Sumberdaya ("CSD") in which ARX is entitled to an 83.76% interest as at 30 June 2004 and PT Antam Tbk ("Antam") retains a 16.24% interest.

Subject to financing and regulatory approvals being completed, construction could start in the first half of 2005 with first gold production in early 2006.

Key findings of the BFS are:

• Mine life of 6 years with a production rate of 220,000 tonnes per annum with recovery of gold and silver by a conventional CIL processing plant;

• Mining will be by conventional underground cut and fill stoping with decline access.

• Annual production of approximately 70,000 ozs gold equivalent based on Mineable Reserves and resources of 467,000 equivalent ounces of gold;

• Initial capital expenditure of some US$ 34 million;

• Average life of mine cash operating costs of less than US$200/oz.

The project has been designed with the potential for expansion since exploration, which has continued throughout the course of the Feasibility Study, has identified several priority targets that may form new economic shoots and lead to an increase in the project's resources. The discovery of a new shoot could lead to an expansion in annual production to about 100,000 ounces. A new phase of diamond drilling will commence in September 2004 to test these targets.

The environmental approvals process is well advanced, having been progressed in parallel with the Feasibility Study.

Two banking groups have been identified as possible providers of the debt component of the project's financing. These banking groups have now commenced their due diligence and it is proposed to provide a mandate to one of these groups as soon as practicable. Prime Corporate Finance Pty Ltd has been appointed to provide financial advisory services to the Joint Venture. The most appropriate mix of debt and equity funding for the development of this project will be determined in this process.

Whilst the project financing and regulatory approvals are ongoing, a number of pre-implementation aspects of the project will be carried out to enable construction to be started as soon as project financing is in place. At this stage it is anticipated that the project financing will be finalised by early 2005. The pre-implementation work will include the preparation of design packages to tender the construction of the processing plant, surface infrastructure and development of the underground mine.

Mineable Reserves and Resources for the project are set out in the following table:

Notes:

1. Tonnes and ounces in thousands.
2. Discrepancies in addition are due to rounding.
3. Reserves based on the Geological Resource estimate prepared and signed off by Mr Dean Carville of AMC based on ordinary kriging estimate with a top cut applied.
4. Based on mining via mechanized and hand held cut and fill method.
5. Tonnages and grade values include mining dilution at zero grade gold and silver with an effective recovery of 80% of Crown Pillars.
6. Mining constraints and economic factors have been applied.
7. No metallurgical factors have been applied.

Mineable reserves and inferred resources for the project's production plan are based upon resources estimated by Mr Dean Carville who is a full-time employee of AMC Consultants Pty Limited and a Member of the Australasian Institute of Mining and Metallurgy. The Mineable Reserves is based on information compiled by Stephen Williams who is a full-time employee of Dorian Welles Pty Ltd and a Member of the Australasian Institute of Mining and Metallurgy. Mr Carville and Mr Williams each have sufficient experience which is relevant to the type of deposit and the method of mining under consideration and to the activity which they have respectively undertaking to qualify as a Competent Person as defined in the 1999 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves.

Exploration will also continue at the site and ARX is pleased to advise that its Joint Venture partner, Antam, has indicated that it intends to participate in the funding of the joint venture expenditure budget for the second half of 2004. Antam's exploration unit, Geomin, will provide drilling crews and geologists to carry out this next important stage of exploration. This commitment by Antam reflects their confidence in the Cibaliung Gold Project and their high regard for its exploration potential.

The Company believes that, with the support of its partners and regulatory authorities in Indonesia, the Cibaliung Gold Project will be the next new gold mine to commence operations in Indonesia and the first new major investment in this sector for many years - confirming a significantly improved operating and investing environment in Indonesia. In this context the Company is also pursuing new acquisitions in Indonesia which it expects to be in a position to report on in the near future.

Further project details and information regarding the development of the Cibaliung Gold Project will be released as development milestones are achieved.

25 August, 2004

Austindo Resources Corporation NL ("ARX") has resolved to proceed with a placement of up to 70 million shares at 4.3 cents per share to raise additional working capital of $3 million to fund the Company through the pre-implementation phase of its 83.76% owned Cibaliung Gold Project in Banten Province, Indonesia.

The placement will be made to the Company's major shareholder and acordingly, will be subject to shareholder approval.

PT Austindo Nusantara Jaya ("ANJ"), which currently holds 41.64% of the issued capital of the Company, will subscribe for up to 29 million shares ($1.25m) to maintain their holding in the Company. Mr. George Tahija, the President Director of ANJ and a Non-Executive Director of the Company, has confirmed that ANJ remains confident in the Company's Cibaliung project in Indonesia and its prospect of advancing to producing mine.

Lion Selection Group ("Lion"), which currently holds 11.88% of the Company has also confirmed that it will apply for 8.3 million shares ($357,588) to also maintain their holding in the Company. Mr. Robin Widdup, the Managing Director of Lion, believes that the Cibaliung Gold Project fits well within the investment criteria of the Lion Group and has indicated that the Lion Group is supportive of plans for the development of the project.

Mike and Vicki Diemar (through Diemar & Associates Pty Ltd), currently hold 5.86% of the Company and have also confirmed that they will apply for 4.1 million shares ($176,386) to maintain their interest in the Company.

The placement will also be offered to other major shareholders of the Company and potentially to new investors identified by the Board. The placement wil be completed within 30 days of shareholder approval. A general meeting to consider this proposal is to be held not later than 15 October 2004.

Yours sincerely


Ian L. Price
Managing Director
25 August 2004

Notice of Annual General Meeting