Australian Potash Limited advised that St Barbara Limited (SBM) has completed its expenditure obligation under the First Earn-in Period pursuant to the Lake Wells Gold Project Earn-in and Joint Venture Agreement (Agreement). In addition, SBM has agreed to reimburse APC $318,000 for previously incurred gold exploration expenditure. Under the terms of the Agreement, St Barbara has the right to earn up to a 70% participating interest in the Lake Wells Gold Project tenements through the expenditure of $1,750,000 in the First Earn-in Period, and $3,500,000 in the Second Earn-in Period.