ADAVALE RESOURCES LIMITED — Director's Dealing 2010

Dec 9, 2010

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name	of entity	Adavale Resources Limited
ABN	91 008 719	015

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Ernest Risinger
Date of last notice	1 September 2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances givingrise to the relevant interest.	As the controller of Larca Pty Ltd, the registered holderof the securities.
Date of change	7 December 2010
No. of securities held prior tochange	8,226,293 Shares
Class	Ordinary sharesJuly 2014 Class A OptionsJuly 2014 Class B OptionsJuly 2015 Class C OptionsJuly 2016 Class D Options
Number acquired	1,000,000 Ordinary shares5,000,000 July 2014 Class A Options5,000,000 July 2014 Class B Options5,000,000 July 2015 Class C Options5,000,000 July 2016 Class D Options
Number disposed	nil
Value/ConsiderationNote: If consideration is non-cash, provide detailsand estimated valuation	Indirect :nil consideration, issued as approved by shareholders atthe AGM held on 26 November 2010

• See chapter 19 for defined terms.

Appendix 3Y Page 1

3/12/2010

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after 9,226,293 Ordinary Shares change 5,000,000 July 2014 Class A Options 5,000,000 July 2014 Class B Options 5,000,000 July 2014 Class C Options 5,000,000 July 2014 Class D Options Nature of change The issue of shares and performance options has been Example: on-market trade, off-market trade, provided to Mr Risinger as an executive director, to exercise of options, issue of securities under dividend reinvestment plan, participation in buyprovide cost effective consideration for his ongoing back commitment and contribution to the company and to provide an incentive to deliver a mining project in Indonesia. The issue of these shares and options was approved at the Company’s AGM on 26 November 2010.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract in relation towhich the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

1/9/2009