Electronic Prospectus and Application Form

Note for intended users of this Prospectus:

1. This file contains the Prospectus dated 29 June 2007 issued by Vital Metals Limited ACN 112 032 596 (“Company”).
2. Persons who access the Prospectus in electronic form should note that the securities offered by this Prospectus should be considered speculative. Before deciding to invest in the Company potential investors should read the entire Prospectus and in particular consider the risk factors that could affect the financial performance of the Company. You should carefully consider these risks in light of your personal circumstances (including financial and taxation issues) and seek professional advice from your accountant, stockbroker, lawyer or other professional adviser before deciding whether to invest.
3. The securities to which the Prospectus relates will only be issued on receipt of an Application Form issued together with the Prospectus.
4. The offer to which the Prospectus relates is available to persons receiving electronic disclosure documents in Australia.
5. Users of the Application Form included in the Prospectus should note:
1. the Prospectus contains information regarding investing in the securities referred to in the Application Form; and
2. potential investors are strongly advised to read the Prospectus before applying for securities.
6. Whilst the Prospectus is current, the Company will send copies of the Prospectus and any supplementary document and the Application Form, on request and without charge. In this regard, please contact John Sobolewski on (08) 9388 7742.

I accept all of the above conditions.