AuKing Mining Limited Prospectus

IP Services Agreement AKN has engaged Perth-based Accudo (the holder of owner of the rights in Australia to the AmmLeach® process) under a services agreement, whereby AKN will have access to Accudo’s metallurgical expertise and knowledge, including the AmmLeach® process. More details of this agreement are set out in Section 12.3. 4.7 Koongie Park - Proposed AKN Budget AKN has developed an indicative program of work and budget for proposed activities at Koongie Park over the next two years. The program of work encompasses the proposed activities identified in section 4.6 above comprising a mix of exploration of existing known deposits, exploration across the tenure portfolio and metallurgical testwork of the Onedin oxide and transitional ores. The budget of planned activities is set out in the table below (noting that the proposed use of funds of the Public Offer includes a small contingency amount): Exploration activity Item Year 1 (A$) Year 2 (A$) TOTAL (A$) Salaries and wages 100,000 100,000 200,000 Contract labour 25,000 25,000 50,000 Travel and accommodation 40,000 30,000 70,000 Communications 4,000 4,000 8,000 Freight 10,000 5,000 15,000 Tenure rents 47,000 47,000 94,000 Tenure rates 44,000 44,000 88,000 Contractors/consultants 55,000 55,000 110,000 Tenement administration 35,000 35,000 70,000 Geophysical surveys 130,000 20,000 150,000 Site preparation 10,000 10,000 20,000 Environmental monitoring 2,500 2,500 5,000 Project studies 25,000 100,000 125,000 Drilling (RC) – 150,000 150,000 Drilling (diamond) 375,000 225,000 600,000 Assays 25,000 25,000 50,000 Native Title/Land compensation 10,000 10,000 20,000 Metallurgical testwork (Phase la) 70,000 – 70,000 Metallurgical testwork (Phase lb) – 80,000 80,000 Vehicles 20,000 20,000 40,000 Total expenditure 1,027,500 987,500 2,015,000 AKN’s proposed two-year work program and budget (Source: Independent Technical Report – see section 6 for more details) The proposed program of activities and budget are subject to the availability of contractors and the results of activities that require positive outcomes prior to progressing to the next stage of activity. AKN will allocate additional consulting fees to these budgeted amounts, as it is entitled to do so under the Koongie Park Earn-in. The Company believes that the indicative program and budget are adequate and will be sufficient to meet the statutory expenditure on the Koongie Park Tenements. AuKing Mining Limited | PROSPECTUS 51