Macmin Silver Ltd announced on the 13th October that, following its $4 million

capital raising, the Company has emerged from voluntary administration and

changed its name to Alcyone Resources Ltd ( Alcyone) (ASX code: AYN).

The move has paved the way for Alcyone’s shares to resume trading in mid-

November, once the Company has completed its interim accounts for the six

months to December 2008 and its annual report for the year to 30 June 2009.

Alcyone’s emergence from voluntary administration follows termination of the

Deed of Company Arrangement that was previously approved by the

company’s creditors.

With funding now available, work has started on scheduling the metallurgical

test program and other investigations aimed at assessing the potential to

resume silver production at the Twin Hills Mine, located approximately 240km

south-west of Brisbane. This program will involve the collection of ore body

samples, testing by an independent laboratory and subsequent assessment of

the economic parameters.

Further details on the program and results will be announced as they emerge.

Website currently under construction.

New Directors

Chairman

Mr Charles Morgan

Andrew King

Executive Director

Mr Richard Harris

Further details on the

directors is available in the

ASX announcement relating

to the prospectus