MINOTAUR EXPLORATION LTD

Minotaur Exploration announced that the company has undertaken a share placement to raise approximately A$2.5 million resulting in total cash available for exploration in excess of A$7 million. The placement to institutional and professional investors of 10.4 million ordinary shares, representing approximately 15% of the issued capital of the Company, at $0.24 cents each, raises gross proceeds of approximately A$2.5 million.