ASTRAL RESOURCES NL — Regulatory Filings 2008

ANGLO AUSTRALIAN RESOURCES NL ASX ANNOUNCEMENT 5 DECEMBER 2008

BEST HOLE EVER AT THE KOONGIE PROJECT INTERSECTS HIGH GRADE COPPER AND ZINC MINERALISATION

HIGHLIGHTS

• Hole SRCD031 at Sandiego intersects 68m @ 6.8%Cu, 9.6%Zn, 98.7g/t Ag, 0.34g/t Au

• Hole SRCD029A at Sandiego intersects 29m @ 7.89% Zn, 46g/t Ag, 5m @ 3.95%Zn and 4m @ 0.63%Cu, 26.83g/t Au

• Massive sulphides intersected in two holes at Onedin

DRILLING PROGRAM AND RESULTS

Phase two of a resource definition and extension diamond drilling programme at Anglo Australian Resources wholly owned Koongie Project, located 25kms east of Halls Creek, has now finished. Twelve diamond drill holes totalling 2624.2m were completed. Drill cores from all holes have been cut and submitted for assay. Some assay results were released in the Company’s September Quarterly report and results for some additional holes are presented in this release. Assay results are awaited for six holes. The locations of the Sandiego drill holes are shown in the drilling plan (Figure 2). Intersections are shown in the long section (Figure 3).

Sandiego Hole SRCD031 --- 68m @ 6.8%Cu, 9.6% Zn, 98.7g/tAg, 0.34g/t Au

SRCD031 intersected a zone of substantial high-grade copper and zinc mineralisation consisting of chalcocite at shallower levels and sphalerite and chalcopyrite at deeper levels. The zone, intersected over 68m from 100m downhole, is estimated to have a true width of 34m. It consists of a central high grade zinc-rich portion (111-152m) flanked by high grade copper-rich portions (100-125m, 148-168m):

• 100 - 125m 25m @ 11.36% Cu , 2.12% Pb, 13.3% Zn , 142g/t Ag

• 111 - 152m 42m @ 2.49% Cu, 2.26% Pb, 14.92% Zn , 127g/t Ag, 0.18g/tAu

• 148 - 168m 20m @ 8.84% Cu , 2.17% Zn, 28g/t Ag, 0.92g/t Au

The intersected mineralization occurs within the Transition Zone at a vertical depth of 70120m. The copper-rich upper part of the overall mineralised zone is interpreted to be a zone of supergene enrichment. The intersection in Hole SRCD031 is much longer and of significantly higher grade compared to other intersections previously obtained at the Sandiego deposit. It is the best ever drilled at Sandiego, particularly when the high grade of the copper mineralization is considered. Preliminary interpretations suggest that Hole SRCD031 is the first hole to completely intersect the zone of supergene copper enrichment.

==> picture [80 x 59] intentionally omitted <==

Anglo Australian Resources NL ASX Announcement 5 December 2008

The Pre-Feasibility Study recently completed by the Company for the development of the Sandiego deposit did not envisage mining of any copper mineralization in the Transition Zone. The discovery of such high grade copper mineralization in SRCD031 has the potential to very positively impact the development economics of the Sandiego deposit, particularly as the mineralization occurs at a relatively shallow depth. The full extent of the high grade copper zone is, however, yet to be fully defined.

==> picture [392 x 262] intentionally omitted <==

Figure 1. Massive chalcocite and pyrite in SRCD031

Sandiego Hole SRCD029A --- 29m @ 7.89% Zn, 46g/t Ag, 5m @ 3.95% Zn and 4m @ 0.63% Cu and 26.83g/t Au

Hole SRCD029A, which was drilled primarily to obtain material for metallurgical testing from the main Sandiego zinc-rich deposit, intersected massive and disseminated zinc mineralisation over 29m from 165m downhole. The mineralised zone is estimated to have a true width of approximately 14.5m. This hole also returned a high grade gold intersection (4m @ 26.83 g/t Au) from a ferruginous fault zone. Low-grade gold is present throughout the Sandiego deposit and occasionally high- grade values do occur, particularly in the Oxide and Transition Zones of the deposit. The intersection in SRCD029A is of particular interest as it occurs outside of, and marginal to, the Sandiego deposit in a fault structure.

A summary of intersections at 1% Cu and 3% Zn cut offs is presented below:

119 – 123m 4m @ 0.63% Cu, 26.83g /t Au 165 – 194m 29m @ 0.17% Cu, 1.1% Pb, 7.89 % Zn, 46g/t Ag 200 – 205m 5m @ 0.18% Cu, 3.95% Zn, 9.8g/t Ag, 0.16g/t Au 216 – 218m 2m @ 5.75% Zn 242 – 245m 3m @ 4.7% Zn, 8g/t Ag

==> picture [80 x 59] intentionally omitted <==

Anglo Australian Resources NL ASX Announcement 5 December 2008

Massive sulphide intersections in two drill holes at the Onedin deposit

Two holes completed at the Onedin deposit provided valuable geological information that is expected to lead to a revision of the current resource model in due course. Preliminary interpretations indicate potential to increase the primary sulphide resource.

Hole ORCD051 intersected six zones of massive sulphide (dominated by 10-20% sphalerite) between 194 and 323m in ORCD051. Estimated true widths of the zones varied from 3 to 17m. Assays are awaited.

Hole ORCD50 returned several wide mineralised intersections entirely from the Transition Zone. Assay details are awaited

Overview

Once all assays are received for all holes both the Sandiego and Onedin deposits will be remodelled and new resources estimated. Resource estimates for the primary and transitional mineralization at Sandiego are expected to increase on the basis of drill results so far received.

Signed on behalf of the Board of Anglo Australian Resources N.L.

John L C Jones – Chairman

For further information:

Angus Pilmer - Executive Director

Telephone: (08) 9486 7211

Peter Komyshan - General Manager Exploration Telephone: (08) 9322 5811

Information in this Report relating to geological data has been compiled by the Anglo Australian Resources NL Exploration Manager, Peter Komyshan, who:

• Is a full-time employee of Anglo Australian Resources NL;

• Is a Member of the Australasian Institute of Mining and Metallurgy;

• Is a member of the Australian Institute of Geoscientists;

• Has sufficient experience which is relevant to the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’;

• Has consented in writing to the inclusion of this data.

==> picture [80 x 59] intentionally omitted <==

Anglo Australian Resources NL ASX Announcement 5 December 2008

Figure 2. Sandiego Drill Hole Location Plan

==> picture [392 x 609] intentionally omitted <==

==> picture [80 x 59] intentionally omitted <==

Anglo Australian Resources NL ASX Announcement 5 December 2008

Figure 3. Sandiego Long Section

==> picture [392 x 588] intentionally omitted <==

==> picture [80 x 59] intentionally omitted <==

Anglo Australian Resources NL ASX Announcement 5 December 2008

Figure 4. Koongie Geology and Prospect Location

==> picture [392 x 342] intentionally omitted <==

==> picture [80 x 59] intentionally omitted <==