Cape Alumina Limited

Asian Activities Report for May 5, 2011 includes: Cape Alumina Limited (ASX:CBX) has finalised access agreements with western Cape York Aboriginal land owners in the Company's Bauxite Hills mine and port project area; Aphrodite Gold Limited (ASX:AQQ) announced further significant results from its flagship Aphrodite Gold Project in Western Australia; Mozambi Coal Limited (ASX:MOZ) has commenced an initial coal drilling programme on the Tete West project in Mozambique; Kibaran Nickel Limited (ASX:KNL) has commenced drilling at the Kagera Nickel project in Tanzania.

Metallica Minerals Limited (ASX:MLM) are pleased to announce a non-cash selective share buy-back and transfer agreement (the Agreement) between the Company and its second largest shareholder, Resource Capital Funds III and IV (RCF). The agreement, which is subject to Metallica shareholder approval, effectively involves RCF exchanging 7.74 million of its shares in Metallica for approximately 3.9 million shares in Cape Alumina Limited (Cape Alumina) (ASX-CBX) which are currently held by Metallica.

Metallica Minerals Limited (ASX:MLM) is pleased to be exhibiting at this year's Diggers and Dealers Mining Forum which is taking place from 3-5 August in Kalgoorlie.

Under-explored areas of South Australia's minerals province, have been targeted by Metallica Minerals Limited (ASX:MLM) in the Company's first venture outside of its core Queensland based multi-commodity resource portfolio, citing the three highly attractive tenements (Toby, Lake Torrens and Merna Mora) with SA Olympic Dam type targets as highly appealing in current market environments.

Under-explored areas of South Australia's minerals province, have been targeted by Metallica Minerals Limited (ASX:MLM) in the Company's first venture outside of its core Queensland based multi-commodity resource portfolio, citing the three highly attractive tenements (Toby, Lake Torrens and Merna Mora) with SA Olympic Dam type targets as highly appealing in current market environments.

Asian markets are likely to post solid gains on Thursday, as U.S. stocks rallied on optimism over a fresh rescue package to help banks to remove toxic assets. The Nikkei stock average rose 1.2 percent on Thursday, buoyed by exporters such as Advantest Corp on a softer yen and after optimism about the U.S. government's rescue plan boosted Wall Street.

Queensland-based company Cape Alumina has defied the doom and gloom in the global economy and reached a milestone with its listing on the Australian Securities Exchange today (ASX:CBX) which will help lay the foundation to create up to 1,000 jobs in the Queensland resources sector.