Media Statement
July 1st, 2011

Ethan Minerals Limited (ACN: 124 354 329) Lawler Partners Appointed Administrators

John Vouris and Brad Tonks of the Business Recovery team at Lawler Partners Chatered Accountants were appointed Voluntary Administrators of Ethan Minerals on 1 July 2011 after a resolution was passed by its board of directors.

Ethan Minerals is a commodity explorer and developer both in Australia and overseas.

The Administrators will be working closely with the company’s stakeholders in preparation for the first meeting of creditors which will be held in Perth on Wednesday, 13 July 2011. Shareholders are also welcome to attend this meeting and details will be released shortly.

“We are currently progressing discussions with interested parties and expect to be able to negotiate a suitable offer to restructure the business in the near future”, John Vouris said.

Anyone with an enquiry in relation to the Voluntary Administration is encouraged to contact Lawler Partners at ethan@lawlerpartners.com.au or alternatively to address correspondence to:

The Administrators
Lawler Partners
GPO Box 5446 
SYDNEY  NSW  2001, AUSTRALIA
Tel: 61 2 8346 6000  Fax: 61 2 8346 6099

ENDS