ASX RELEASE. Quarterly Report for the period ended 31 March 2009

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1 ABN May Level St Kilda Road Melbourne 3004 Australia PO Box 6203 St. Kilda Road Central, Vic Australia Phone Fax admin@plentex.com.au ASX RELEASE Quarterly Report for the period ended 31 March 2009 As part of a commitment to bring its ASX periodic reporting up to date, Plentex Limited lodges herewith its Quarterly Report for the quarter ended 31 March The information in this report insofar as it deals with the Company s transaction with Deutsche Rohstoff AG is substantially the same as the information contained in the Explanatory Memorandum which accompanied the Notice of Annual Meeting which was forwarded to shareholders on Friday, 24 April Shareholders attention is also drawn to the Company s announcement to ASX earlier this afternoon advising of the successful completion of the Mining Assets Sale and Purchase Agreement made between Plentex Limited and Plentex subsidiaries (Plentex (Operations) Pty. Ltd., Georgetown Mining Limited, and Triumph Resources Pty. Ltd.) and Deutsche Rohstoff Australia Pty. Ltd. and its parent company Deutsche Rohstoff AG. For and on behalf of PLENTEX LIMITED PETER C. STREADER Executive Chairman

2 PLENTEX LIMITED (ABN ) Level 2, 616 St. Kilda Road, Melbourne. Victoria Telephone: (03) Facsimile: (03) REPORT FOR THE QUARTER ENDED 31 MARCH 2009

3 REVIEW OF OPERATIONS GEORGETOWN GOLD MINING PROJECT During the quarter all activity in relation to this project was focused on satisfying Deutsche Rohstoff AG s due diligence enquiries and negotiations with Deutsche Rohstoff AG representatives resulting in the agreement which is reported on below under the heading Corporate. GEORGETOWN GOLD AND BASE METALS EXPLORATION PROJECT No field work took place during the quarter due to the prolonged wet season. NEW EPM APPLICATION On 1 February 2009 Georgetown Mining Limited applied for a new Exploration Permit for Minerals (EPM) over an area of approximately 99 sq. km. which was formerly held in Plentex (Operations) Pty. Ltd s EPM which lapsed on 30 November 2008 as a result of an internal administrative misunderstanding. This new application, which has been given the number 17989, is currently being processed by the Queensland Department of Mines and Energy and is expected to be granted later this year. Under the terms of the Mining Asset Sale and Purchase Agreement with Deutsche Rohstoff AG reported on below, this EPM will be transferred to Deutsche Rohstoff Australia Pty. Ltd. once it is granted. FERTILISER PROJECT ACTIVITY Monitoring of potential opportunities for the establishment of an ammonia/urea plant continued during the quarter. CORPORATE RECAPITALISATION OR OTHER PROPOSALS As previously advised, following unsuccessful attempts during 2008 to raise development capital or to negotiate acceptable joint venture arrangements, the Directors of Plentex Limited concluded they had no alternative but to sell the assets which comprised the Georgetown Mining and Exploration Project. To this end, after lengthy negotiations Plentex Limited and its wholly owned subsidiaries Plentex (Operations) Pty. Ltd., Georgetown Mining Limited and Triumph Resources Pty. Ltd. executed on 11 March 2009 a Mining Assets Sale and Purchase Agreement with Deutsche Rohstoff Australia Pty. Ltd. and its parent company Deutsche Rohstoff AG of Heidelberg Germany. Under this agreement Deutsche Rohstoff Australia Pty. Ltd. agreed to purchase the Company s mining and exploration tenements, the interests of Plentex and Plentex group companies in various material agreements, Plentex (Operations) Pty. Ltd s currently decommissioned CIP gold processing plant and various items of equipment used by Georgetown Mining Limited and Plentex (Operations) Pty. Ltd. in their operations in the Georgetown region of North Queensland. In consideration for the purchase of these assets, Deutsche Rohstoff Australia Pty. Ltd. agreed to: pay Plentex Limited - $1,215,000 (which included a deposit of $120,000 paid on 11 March 2009);

4 replace financial assurances lodged by Plentex group companies with the Queensland Department of Mines and Energy totalling $185,916 as security for compliance with environmental obligations applying to the tenements listed in Schedule 1 (see next page), which amount will subsequently become available to Plentex; assume responsibility for all future rental payments and other obligations arising in relation to the tenements; assume responsibility for a motor vehicle lease and the lease of an accommodation unit in Georgetown; reimburse Plentex 75% of certain monthly outgoings associated with the project for the period 1 February 2009 until completion; re-employ and be responsible for the future salaries or wages and entitlements of certain employees. It was also agreed that the purchase price described in the first bullet point above will be apportioned between the Plentex group companies as follows: Plentex (Operations) Pty. Ltd... $423,000; Georgetown Mining Limited.. $262,000; and Triumph Resources Pty. Ltd... $530,000. Georgetown Mining Limited s potential uranium royalty is also preserved under the agreement and does not form part of the assets to be transferred to Deutsche Rohstoff Australia Pty. Ltd. As security for the repayment of the deposit and all other payments made to Plentex and the Plentex group companies, Plentex, Plentex (Operations) Pty. Ltd., Georgetown Mining Limited and Triumph Resources Pty. Ltd. executed a mortgage in favour of Deutsche Rohstoff Australia over the tenements and the CIP gold processing plant located on ML This mortgage secures: the payment of the deposit and any interim period payments made to Deutsche Rohstoff Australia under the sale agreement; and the performance of the pre-completion obligations of Plentex and the Plentex group companies under the sale agreement. This mortgage is to be released upon the completion of the sale. Under the agreement, Plentex was also required to repay to Deutsche Rohstoff AG the sum of $100,000 which was advanced by way of loan to Plentex in December 2008, together with accrued interest. If this amount is not repaid by the completion date of the agreement, it will be off-set from the purchase price. If the agreement is terminated, Plentex would be required to repay the loan amount to Deutsche Rohstoff AG in June The agreement also provided that completion of the agreement must take place in a period of 75 days (subject to extension of this period by mutual agreement), conditional upon the following conditions precedent being satisfied or waived: the Minister for Mines and Energy (Qld) providing indicative approval to the assignment of the tenements to Deutsche Rohstoff Australia Pty. Ltd.; parties to various material agreements providing consents or waivers of pre-emptive rights; approval under the Foreign Acquisitions and Takeovers Act 1975 (Cwth) of the transaction; the removal of all caveats (other than the caveats lodged by Deutsche Rohstoff Australia) over the tenements; and

5 Plentex obtaining the approval of its shareholders to the transactions contemplated by the agreement. Schedule 1 List of Tenements Holder Tenement Financial Assurance Plentex (Operations) Pty. Ltd. ML 3374 $5,000 Plentex (Operations) Pty. Ltd. ML 3409 $41,236* Plentex (Operations) Pty. Ltd. ML 3540 $41,236* Plentex (Operations) Pty. Ltd. ML 3548 $4,628 Plentex (Operations) Pty. Ltd. ML 3591 $41,236* Georgetown Mining Limited ML Nil Georgetown Mining Limited ML Nil Georgetown Mining Limited ML Nil Georgetown Mining Limited ML Nil Georgetown Mining Limited ML Nil Georgetown Mining Limited ML Nil Triumph Resources Pty. Ltd. ML $23,580 Plentex (Operations) Pty. Ltd. MDLA 405 Nil Triumph Resources Pty. Ltd. EPM 8411 $2,500 Plentex (Operations) Pty. Ltd. EPM 8545 $8,000 Triumph Resources Pty. Ltd. EPM 9158 $11,000 Georgetown Mining Limited EPM $2,500 Plentex (Operations) Pty. Ltd. EPM $2,500 Plentex (Operations) Pty. Ltd. EPM $2,500 Georgetown Mining Limited EPMA (covers ground formerly under EPM 14184) Total $185,916 * Part of single security deposit of $123,700 for MIC Nil SHORT TERM FUNDING During the quarter further loans on interest free unsecured basis were made to the Company by Union Star Investments Pty. Ltd. (a related party of the Company's Executive Chairman, Mr. P. C. Streader). At the end of the quarter these loans made to the Company by the Directors (or related parties) totalled $381,690 made up as follows: Union Star Investments Pty. Ltd. $267,400 P. C. Streader $65,500 G. M. Woolrich $23,790 D. Campi $25,000 Subsequent to the end of the quarter Plentex Limited repaid $26,900 of the loan advanced by Union Star Investments Pty. Ltd. reducing the amount outstanding to $240,500.

6 In addition, as previously reported, in conjunction with signing a Term Sheet, on 16 December 2008 Deutsche Rohstoff AG advanced by way of loan $100,000 to the Company on the following terms the loan is interest free until 31 January 2009 and thereafter bears interest at 8% per annum. the loan together with any unpaid interest is to be repaid by no later than 20 June the loan is secured by a Mortgage over ML During the quarter the proceeds of this loan were used to reduce Plentex's external creditors and as working capital. Working capital was also supplemented by the deposit of $120,000 paid by Deutsche Rohstoff Australia Pty. Ltd. on or about 11 March EXPLORATION AND EVALUATION EXPENDITURE: The Appendix 5B - Mining Exploration Entity Quarterly Report is annexed hereto. Yours faithfully, for and on behalf of PLENTEX LIMITED PETER C. STREADER Executive Chairman and Managing Director Note: The information in this report that relates to mineral resources and ore reserves is based on information compiled by Gary Kenneth Thompson, a member of the Australasian Institute of Mining and Metallurgy, who has a minimum of 5 years experience in the estimation, assessment and evaluation of mineral resources and ore reserves. Gary Kenneth Thompson has significant experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves. Gary Kenneth Thompson consents to the inclusion in this report of these matters based on the information in the form and context in which it appears.

7 Rule 5.3 Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97. Appendix 5B Mining exploration entity quarterly report Name of entity Plentex Limited ACN or ARBN Quarter ended ( current quarter ) March 2009 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $A 31/03/09 Year to date $A 31/03/ Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration (6) (26) (59) (138) 1.3 Dividends received Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows (32) (177) Cash flows related to investing activities 1.8 Payment for purchases of: (a)prospects (b)equity investments, net of cash acquired (c) other fixed assets (2) 1.9 Proceeds from sale of: (a)prospects (b)equity investments (c)other fixed assets 1.10 Loans from other entities Loans repaid 1.12 Other Project Development Net investing cash flows Total operating and investing cash flows (carried forward (4) (26)

8 1.13 Total operating and investing cash flows (brought forward) (4) (26) Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings - related entities 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other rebate BAS. Rental collected Net financing cash flows Net increase (decrease) in cash held (4) (26) 1.20 Cash at beginning of quarter/year to date Exchange rate adjustments to item Cash at end of quarter Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities Current quarter $A 31/03/ Aggregate amount of payments to the parties included in item Aggregate amount of loans to the parties included in item Explanation necessary for an understanding of the transactions -- Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows None 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest None

9 Financing facilities available Add notes as necessary for an understanding of the position. 3.1 Loan facilities 3.2 Credit standby arrangements Amount available $A 31/03/09 Amount used $A 31/03/09 Estimated cash outflows for next quarter $A 30/06/ Exploration and evaluation (mineral exploration) 10, Development fertiliser project opportunities 2,500 Total Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. Current quarter $A /03/09 Previous quarter $A /12/ Cash on hand and at bank Deposits at call 5.3 Bank overdraft 5.4 Other Total: cash at end of quarter (item 1.22) Changes in interests in mining tenements Tenement Nature of interest reference 6.1 Interests in mining tenements relinquished, reduced or lapsed Interest at beginning of quarter EPM (Qld) PO Holder (4) 100% Nil Interest at end of quarter 6.2 Interests in mining tenements acquired or increased EPMA GML Holder (3) 100% 100% Notes: 1. EPM means Exploration Permit for Minerals. 2. EPMA means Application for Exploration Permit for Minerals. 3. GML means Georgetown Mining Limited. 4. PO means Plentex (Operations) Pty. Ltd.

10 Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates. 7.1 Preference + securities (description) Number issued Number quoted Par value (cents) Paid-up value (cents) 7.2 Issued during quarter Ordinary securities 50,121,539 50,121,539 N/A N/A 7.4 Issued during quarter Convertible debt securities (description and conversion factor) 7.6 Issued during quarter 7.7 Options (description and conversion factor) 7.8 Issued during quarter (quoted) Nil Nil N/A N/A 7.9 Exercised during quarter (quoted) 7.10 Expired during quarter 7.11 Debentures (totals only) Nil Unsecured notes (totals only) Nil -

11 Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Law or other standards acceptable to ASX (see note 4). 2 This statement does give a true and fair view of the matters disclosed. Sign here:... Date: 28 May 2009 (Executive Chairman/Managing Director) Print name: PETER CLIVE STREADER Notes 1 The quarterly report provides a basis for informing the market how the entity s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report. 2 The Nature of interest (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report. 4 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with. == == == == ==