Re Non-Renounceable Rights Issue

    Union Resources Limited                            

           Non-Renounceable Rights Issue - Extension of Offer Period           

The Company has decided to further extend the closing date under its 1 for 5
non-renounceable rights issue by three weeks from 26 November 2008 to 17
December 2008. Accordingly the revised timetable for the rights issue is as
follows:

1. Announcement of Rights Issue to ASX                      7 October          
                                                                               
2.    Application to ASX for quotation of Shares                               
(Appendix 3B)                                                                  
                                                                               
3.  Lodge Prospectus with ASX                                                  
                                                                               
Notice to Shareholders containing information in            9 October          
Appendix 3B                                                                    
                                                                               
  Shares trade "Ex" the entitlements issue on the           10 October         
ASX                                                                            
                                                                               
Record Date to identify Eligible Shareholders and           16 October         
to determine Entitlements under the Prospectus                                 
                                                                               
1. Despatch of Prospectus and Entitlement and               21 October         
Acceptance Form ("Opening Date")                                               
                                                                               
2.   Advise ASX that despatch completed                                        
                                                                               
Closing Date                                               17 December         
                                                                               
Securities quoted on a deferred settlement basis           18 December         
                                                                               
ASX notified of under-subscriptions                        22 December         
                                                                               
Despatch Share Holding Statements                          24 December         
                                                                               
Expected commencement of trading of new securities         29 December         
on ASX on T+3 basis                                                            

Please find below the letter which has been sent to the Company's shareholders
notifying of the extension of the offer period under the rights issue.

Enquires to:

Australia: Union Resources Limited
Dr Frank Reid - Managing Director
Phone: [phone]

London: Hanson Westhouse Limited
Bill Staple or Martin Davison
0207 7601 6100

Bankside Consultants
Simon Rothschild / Louise Mason
0207 367 8888



18 November 2008

Dear Shareholder

NON-RENOUNCEABLE 1 FOR 5 RIGHTS ISSUE - FURTHER EXTENSION OF CLOSING DATE

As you are aware the Company is currently conducting a one (1) for five (5)
non-renounceable rights issue. A prospectus for the rights issue has previously
been sent to you.

The purpose of this letter is to advise you that the Company is further
extending the closing date under the rights issue by three weeks from Wednesday
26 November 2008 to Wednesday 17 December 2008. Accordingly, the revised
timetable for the rights issue is as follows:

1. Announcement of Rights Issue to ASX                      7 October          
                                                                               
2. Application to ASX for quotation of Shares               (Tuesday)          
(Appendix 3B)                                                                  
                                                                               
3.  Lodge Prospectus with ASX                                                  
                                                                               
Notice to Shareholders containing information in            9 October          
Appendix 3B                                                                    
                                                            (Thursday)         
                                                                               
  Shares trade "Ex" the entitlements issue on the           10 October         
ASX                                                                            
                                                             (Friday)          
                                                                               
Record Date to identify Eligible Shareholders and           16 October         
to determine Entitlements under the Prospectus                                 
                                                            (Thursday)         
                                                                               
1.   Despatch of Prospectus and Entitlement and             21 October         
Acceptance Form ("Opening Date")                                               
                                                            (Tuesday)          
2.     Advise ASX that despatch completed                                      
                                                                               
Closing Date                                               17 December         
                                                                               
                                                           (Wednesday)         
                                                                               
Securities quoted on a deferred settlement basis           18 December         
                                                                               
                                                            (Thursday)         
                                                                               
ASX notified of under-subscriptions                        22 December         
                                                                               
                                                             (Monday)          
                                                                               
Despatch Share Holding Statements                          24 December         
                                                                               
                                                           (Wednesday)         
                                                                               
Expected commencement of trading of new securities         29 December         
on ASX on T+3 basis                                                            
                                                             (Monday)          

Therefore if you wish to take up shares under the rights issue and you haven't
already done so you should complete the Entitlement and Acceptance Form
previously sent to you with the Prospectus and return it in accordance with the
instructions in Section 4.2 of the Prospectus by 5.00 pm (EDST) on 17 December
2008.

Yours faithfully
UNION RESOURCES LIMITED

James Collins-Taylor
Chairman

Disclaimer

The distribution of the Prospectus in jurisdictions outside Australia may be
restricted by law and persons who come into possession of the Prospectus should
seek advice on and observe any of these restrictions. Failure to comply with
these restrictions may violate securities laws. Applicants who are resident in
countries other than Australia should consult their professional advisers as to
whether any governmental or other consents are required or whether any other
formalities need to be considered and followed.



END