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Royal Resources Ltd-Prairie Downs Project Tenements(3) & Giralia Resources NL	Update Date: 10/24/08
Date Announced: 10/09/08
Value (million $USD): 2.2 million U.S. Dollar 3.2 million Australian Dollar

Status: Completed

TRANSACTION DETAILS
Date Announced	10/09/08
Date Originally Announced	10/09/08
Format	Acq. of Assets	Acquisition techniques	Divestiture
Attitude	Friendly	Agency	n/a
Value	2.2 million U.S. Dollar 3.2 million Australian Dollar	Advisor Fees	n/a

SYNOPSIS

AUSTRALIA - Giralia Resources NL (GR) acquired three Prairie Downs project tenements of Royal Resources Ltd, an iron ore, uranium and gold mining company, for 3.2 mil Australian dollars ($2.189 mil US). The consideration consisted of A$2 mil ($1.368 mil) in cash and the issuance of 2 mil ordinary GR shares valued at A$1.2 ($0.821 mil). The shares were valued based on GR's closing stock price of A$0.6 ($0.402) on October 8, the last full trading day prior to the announcement. The transaction included E52/1604, E52/1911 and E52/1912.

TARGET
Name	Royal Resources Ltd-Prairie Downs Project Tenements(3)
Industries	n/a
City	n/a
State	n/a
Nation	Australia
Incorporated in	n/a
Public Status	Subsidiary
Business Description	Three tenements of Prairie Downs, an iron ore mining project. The three tenements were E52/1604, E52/1911 and E52/1912.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	Giralia Resources NL (Australia : GIR)
Industries	Ferroalloy ores, except vanadium; Uranium-radium-vanadium ores
City	West Perth, Western Australia
State	n/a
Nation	Australia
Incorporated in	n/a
Public Status	Public
Business Description	Giralia Resources NL is a gold, nickel and uranium mining company headquartered in West Perth, Western Australia. Included in the company's portfolio of projects are Beebyn-Weld Range, Western Creek, Earaheedy, McPhee Creek, Yerecoin and Lake Frome JV Projects among others.
Advisors	NULL
Acquiror Sales	0.1 million U.S. Dollar 0.1 million Australian Dollar

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