CORPORATE GOVERNANCE STATEMENT

Australian Mines Limited
ABN 68 073 914 191

TABLE OF CONTENTS

INTRODUCTION

    Corporate Governance
    Compliance with ASX Listing Rule 4.10.3
    The Company's Approach
    Adoption by the Board
    Summary of Compliance

ESSENTIAL PRINCIPLES OF GOOD CORPORATE GOVERNANCE

    Principle 1: Lay Solid Foundations for Management and Oversight
    Principle 2: Structure the Board to Add Value
    Principle 3: Promote Ethical and Responsible Decision- Making
    Principle 4: Safeguard Integrity in Financial Reporting
    Principle 5: Make Timely and Balanced Disclosure
    Principle 6: Respect the Rights of Shareholders
    Principle 7: Recognise and Manage Risk
    Principle 8: Encourage Enhanced Performance
    Principle 9: Remunerate Fairly and Responsibly
    Principle 10: Recognise the Legitimate Interests of Stakeholders