Ann: Closure of Non-Renounceable Entitlement Issu, page-7

re: Ann: Closure of Non-Renounceable Entitlem... Hi guys,

As always Andrew is always very punctual is replying to emails as he has below. So feel free to emailing him when you have any concerns or issues at hand.

Heres an email I received today.

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Dear XXXXXXX,

Thanks for the mail . All Directors intend on taking up their full quota of options and potentially more. I will send you a list of my share and option purchases over the past 6 and a bit years in Proto, but in share terms I bought over 22m shares and intend to keep on buying. I’ve had discussions with other Proto directors re the mechanism with which they take up their entitlement, and they, like me are very keen to purchase options to their entitlement and potentially over.


These purchases will be announced when they take place.


Recently we found out that Barnes Hill was the first iron ore mine in Australia, and MFC have recently updated the market on the Barnes Hill feasibility study. As such, we are very positive now that the mining licence has been granted and we have lodged our proposal and environmental development proposal.

There is no doubt though that we need to add further value to the Company as a result of having more shares on issue.

We are looking to our Northern Territory copper exploration strategy to deliver us valuable results, and we are quietly confident in our new exploration team, which includes the British Open University, the Queensland University of Technology and Oxford University and Leeds University, the last two who are likely to be assisting us as well.

Best regards,

Andrew

Andrew Mortimer
Managing Director
Proto Resources & Investments Ltd