Lion Selection Limited held the General and Scheme Meetings on November 17, 2009, to approve the cash distribution of 10 cents per share to all Lion shareholders.

Lion Selection Limited, Annual General Meeting, Nov 17, 2009 Agenda: To approve the Lion Manager share issue; to approve the demerger of Lion Selection Group Limited; to approve the cash distribution of 10 cents per share to all Lion shareholders; and to approve the merger of Lion's gold assets with Catalpa Resources Limited.

Lion Selection Limited reported consolidated and parent earnings results for the year ended 31 July 2009. For the consolidated, the company's net revenue for the year was AUD 8,875,000 compared with AUD 5,975,000 a year ago. Loss attributable to members of the parent was AUD 40,444,000 compared with AUD 18,506,000 a year ago. Net operating cash flows were AUD 13,404,000 compared with AUD 33,493,000 a year ago. The company reported payments for property plant & equipment of AUD 732,000 compared with AUD 400,000 a year ago. For the parent, the company's profit attributable to members of the parent for the year was AUD 9,031,000 or 7.6 cents per diluted share compared with AUD 7,581,000 or 4.0 cents per diluted share a year ago. Profit before income tax was AUD 8,178,000 compared with AUD 3,685,000 a year ago. Negative net operating cash flows were AUD 1,922,000 compared with net operating cash flows of AUD 6,033,000 a year ago.