FIN RESOURCES LIMITED — Regulatory Filings 2007

ASX / Media Release 14 May 2007

Monitor Energy acquires uranium exploration project in Kyrgyz Republic

Highlights:

• Monitor awarded 100% interest in uranium exploration licence coving 27,200 hectares in the north-eastern Kyrgyz Republic.
• Exploration work in the area with detailed geological mapping, surface and underground sampling and radiometric surveys to commence shortly.
• This acquisition further strengthens Monitor's significant presence in the region.

Australian based resources company Monitor Energy (ASX: MHL) is pleased to announce that the Company has acquired 100% interest in a new uranium exploration licence in the north-eastern region of the Kyrgyz Republic. The license is issued to its wholly owned, locally registered subsidiary Issyk-Kul Energy.

The Kalmaksu licence is valid for two years between 4 May, 2007 and 4 May, 2009. The licence covers 27,200 hectares (272 square kilometres) of land and is located north of Lake Issyk-Kul. It is also in close proximity to two of Monitor's four existing petroleum exploration licenses, which total an area of 9,900 square kilometres.

Monitor believes that the company's new licence is located in a highly prospective area for uranium as historic exploration data of the Kalmaksu licence area, including mapping, geophysics surveys and sparse drilling, has identified zones of mineralisation for uranium as well as molybdenum, lead and sliver.

The Kyrgyz Republic has a history of uranium mining, with production of approximately 3,000 tonnes mined up until the 1970s. Advanced exploration has been previously conducted by Soviet geologists but limited drilling was carried out.

The company intends to expedite its uranium exploration program in the region, which will include detailed geological mapping, surface and underground sampling and radiometric surveys to determine drill targets.

The growing global focus on alternative energy sources has seen uranium prices reach record levels.

Level 2, 41-43 Ord Street West Perth WA 6005 Australia PO Box 1440 West Perth WA 6872 Australia Ph: +61 8 9211 1555 Fx: +61 8 9211 5700 ABN 25 009 121 644

The Kyrgyz Republic is well located to take advantage of increasing demand for uranium in China and Japan. This is underscored by the recent agreement between China and Japan to expand China's nuclear power station capacity by around 30 new power reactors by 2020. Japan also intends to add new power stations, but at a slower rate of growth.

Monitor has a strong focus on energy opportunities in the Kyrgyz Republic and beyond. Current oil and gas technical work in the area includes new age interpretation of existing seismic data in the southern license areas, which has indicated several large untested. four way dip anticlines with geology similar to both the adjacent Fergana and Tarim basins. The company is currently in negotiations with geoscience field data acquisition contractors to obtain modern geophysical data to assist with prospect development.

About the Kyrgyz Republic

The Kyrgyz Republic is a central Asia country of immense natural beauty and achieved independence in 1991, after the collapse of the Soviet Union. The country has a population of approximately five million and is divided geographically, north-south by the Tien Shan mountain range, which runs east-west.

About Monitor Energy

Monitor Energy is a Perth-based energy company which trades on the Australian Stock Exchange. The company holds four petroleum exploration licenses in the Kyrgyz Republic, two in the southern At Bashi district of the Naryn province, and two in the northeast near Lake Issyk-Kul. The addition of the Uranium license underscores the Company's commitment to energy resource opportunities.

More information is available at Monitor Energy's website: www.monitorholdings.com.au

Jon Willem Roestenburg 14 May 2007 04:39:59 +02:00

Mr J W Roestenburg Managing Director

Level 2, 41-43 Ord Street West Perth WA 6005 Australia PO Box 1440 West Perth WA 6872 Australia Ph: +61 8 9211 1555 Fx: +61 8 9211 5700 ABN 25 009 121 644