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	Mr Philip Suriano
Date of last notice	15 September 2008

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 Interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevant interest.	Entertainment Marketing Enterprise PtyLtd as trustee for the Suriano FamilyTrust
Date of change	7 December 2010
No. of securities held prior to change	Indirect :Ordinary : 1,666,667
Class	Ordinary
Number acquired	Indirect :1,000,000 ordinary sharesPerformance Options:July 2014 Class A OptionsJuly 2014 Class B OptionsJuly 2015 Class C OptionsJuly 2016 Class D Options
Number disposed	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration	Indirect :
Note: If consideration is non-cash, provide details and estimated valuation	Nil consideration, issued as approved by
	shareholders at the AGM held on 26
	November 2010
No. of securities held after change	Indirect:
	Ordinary Shares: 2,666,667
	Unlisted Options :
	July 2014 Class A Options
	July 2014 Class B Options
	July 2015 Class C Options
	July 2016 Class D Options
Nature of change	The issue of shares and performance
Example: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	options has been provided to Mr Surianoas an executive director, to provide cost
	effective consideration for his ongoing
	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	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to which	N/A
interest related prior to change
Note: Details are only required for a contract in relation to
which the interest has changed
Interest acquired	N/A

• See chapter 19 for defined terms. Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

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 3

10/12/2010