Anglo Australian Resources NL (ASX:AAR) 43,000,000 Fully Paid Shares To Be Placed At 3.5 Cents Per Share

Perth, Sep 9, 2010 AEST (ABN Newswire) - Anglo Australian Resources NL (ASX:AAR) (PINK:AAURF) (AAR) is pleased to announce that it has arranged to place approximately 43,000,000 fully paid shares at a price of 3.5 cents per share to sophisticated and professional investors.

The placement will raise approximately A$1.5 million, before placement expenses, and the funds will be used for:

1) development studies for the Koongie Copper Zinc Project;

2) exploration drilling programmes at the Koongie Copper Zinc Project;

3) exploration drilling programme at the Feysville Gold project; and to

4) supplement working capital.

The placement was arranged by Bell Potter Secturities.

This Announcement will end the Trading Halt requested on 7 September 2010.

Contact

Angus C. Pilmer Executive Director Tel: +61-8-6380-1904 Peter Komyshan General Manager Exploration Tel: +61-8-9382-8822 http://www.anglo.com.au