u 2 can be a sophisticated investor

Heaps of quality tenements including my favourite Lake Frome.

Buy at 78c or below and u will be classed as a sophisticated investor.

I have my orders in as I want to be sophisticated.


ELECTRONIC TRANSMISSION
DATE: 13 April 2007
TO: Manager - Announcements
Company Announcements Office
ASX Limited
No OF PAGES: 10 (incl. this page)
RE: SHARE PLACEMENT RAISES $6.24 MILLION
Dear Sir
The Directors of Giralia Resources NL are pleased to announce that, following significant interest, the Company has raised $6.24 million before costs through a share placement at $0.78 cents per share, comprising 8 million shares to several European and Australian institutions and sophisticated investors. The Company's cash position following the raising will be in excess of $11 million.
The funds raised will be used for evaluation of the Company's exploration projects, including mining studies and ongoing resource growth drilling at the advanced 100% owned Snake Well gold project, follow up of newly defined VTEM electromagnetic conductors at the 75% owned Daltons nickel sulphide project and, in particular, accelerated exploration of several 100% owned iron ore projects in Western Australia, including;
• Drilling for an initial resource estimate at the Company's 100% owned Beebyn iron ore project in the Mid West region, where over 6 kilometres of potential extensions to known high grade hematite iron ore in the north-eastern Weld Range lie directly along strike from areas of recent high grade drill intersections reported by Midwest Corporation Limited and Sinosteel Corporation. Assay results from the Company's tenements include a rock chip traverse 23 metres long grading 62.1% Fe, with peak grades up to 63.08% Fe.
• Evaluation of the 100% owned Miss Fairbairn Hills iron ore project in the Earaheedy Basin, north of Wiluna in WA, where Giralia's tenements host over 100 kilometres of strike of thick iron formations, with areas of hematite enrichment grading up to 66% Fe, tested only by minor very shallow previous drilling (average only 23 metres depth) which returned best intersections of 14 metres @ 59.3% Fe, and 6 metres (to end of hole) @ 60.4% Fe.
• Additionally Giralia's 100% owned McPhee Creek project contains a 3.5 kilometre long Channel Iron Deposit with grades from drill in excess of 57% Fe, and the Company's Yerecoin magnetite project hosts extensive banded iron formation with coarse grained magnetite only 1 kilometre from an existing railway line.
PO Box 1665, West Perth WA 6872 ! Level 2, 33 Ord Street, West Perth WA 6005
Tel: (08) 9481 4440 ! Fax: (08) 9321 0070 ! Email: [email protected] ! Web: www.giralia.com.au
- 2 -
Exploration at Giralia's key uranium projects at Lake Frome, Olary, and Angelo is currently fully funded by joint venture partners.
The attached notice contains information required under section 708A of the Corporations Act in relation to the above placement.
In addition, we enclose Appendix 3B in respect to the above issue of shares.
Yours faithfully
Bruce Acutt
Company Secretary