ASX ANNOUNCEMENT

8 January 2013

ASX Code: MDX ABN: 28 106 866 442 Corporate Description

Mindax's Mt Forrest Iron Project is progressing through feasibility with a view to mining at the end of 2014.
Mindax is also the greenfields discoverer of a new uranium province near Mukinbudin, Western Australia.
Mindax also has exploration projects based in Western
Australia which involve Gold and Copper.
Through technically advanced exploration and an eye for detail, Mindax has successfully built a significant portfolio of 37 mineral exploration and mining tenements covering over 4,000 square kilometres. In addition, Mindax has applications in place for water and infrastructure covering over 2,400 square kilometres in support of the Mt Forrest Iron Project development.
Mindax aims to develop strategic resources through innovative exploration. Projects will be moved to production including via strategic partnerships.

Key Projects

Mt Forrest Iron
Yilgarn-Avon JV Sedimentary Uranium Mortlock JV Copper-Gold Meekatharra Gold

Address

Level 2, 25 Richardson Street
West Perth WA 6005
Telephone: +61 8 9485 2600
Facsimile: +61 8 9485 2500
Email: info@mindax.com.au

Investor Enquiries

Steve Ward
Managing Director and Chief Executive Officer
Telephone: +61 8 9485 2600
Email: info@mindax.com.au

Media Enquiries

David Utting
Mobile: +61 416 187 462
Email: david@davidutting.com

COMMITMENT RECEIVED FOR PLACEMENT OF SHARES

Mindax Limited (the Company) is pleased to announce that it has received binding commitments to subscribe for a placement of 16,500,000 ordinary fully paid shares (to rank equally in all respects with existing shares) at A$0.10 (ten cents) per share to raise gross proceeds of A$1,650,000. This represents circa 7.15% of the Company's currently issued share capital.

The placement will be made to existing and new sophisticated investors and represents an 18.9% premium to the Company's current 30 day VWAP.

Funds raised from the placement will be to provide additional working capital for the Company.

Dr Steve Ward, Managing Director and CEO commented: "We are really pleased to have raised these additional funds in what are still very challenging financial markets. It is a very positive vote of confidence in our Company and a great start to 2013 for us."

The Company anticipates cleared funds will be received and the placement settled by mid-January 2013. Application for quotation of these securities will then be made to ASX Limited.

For and on behalf of the Board

MINDAX LIMITED CHRISTOPHER POUGNAULT

Company Secretary


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