ALARA RESOURCES LIMITED — Director's Dealing 2008

Sep 23, 2008

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	ALARA URANIUMLIMITED (AUQ)
ABN	27 122 892 719

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	FAROOQ KHAN
Date of last notice	15August2008

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

Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.

(1) OEQ1is a legal, beneficial and registered holder of securities in AUQ; (2) QUE2is taken under section 608(3)(b) of the Corporations Act to have a relevant interest in AUQ securities in which OEQ has a relevant interest by reason of having control of OEQ; (3) Farooq Khan (and associated companies) are taken under section 608(3)(a) of the Corporations Act to have a relevant interest in the AUQ securities in which QUE has a relevant interest by reason of having a >20% voting power in QUE. Therefore, Farooq Khan has a relevant interest in the AUQ securities held by OEQ. (4) IRL3is a legal, beneficial and registered holder of securities in AUQ; (5) Farooq Khan (and associated companies) are taken under section 608(3)(a) of the Corporations Act to have a relevant interest in the AUQ securities in which IRL has a relevant interest by reason of Farooq Khan having a >20% voting power in IRL. Therefore, Farooq Khan has a relevant interest in the AUQ securities held by IRL.

Class	Unlisted Director’s Options (with exercise price of 35 cents and expiring on 16 September 2013)	Unlisted Director’s Options (with exercise price of 35 cents and expiring on 16 September 2013)	Unlisted Director’s Options (with exercise price of 35 cents and expiring on 16 September 2013)
Direct or indirect interest	Direct	Indirect	Total
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to therelevantinterest.	N/A	N/A	N/A
Date of change	17September 2008	-	-
No. of securities held prior to change	-	-	-
Number acquired	8,200,000	-	-
Number disposed	-	-	-
Value /Consideration Note: If consideration is non- cash, provide details and estimatedvaluation	Nil	-	-
No. of securities held after change	8,200,000	-	-
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation inbuy-back	Issue of unlisted directors’ options pursuant to shareholder approval on 17 September 2008	-	-

1 Orion Equities Limited ABN 77 000 742 843 ( OEQ )

2 Queste Communications Ltd ABN 58 081 688 164 ( QUE )

3 Interstaff Recruitment Limited ABN 44 119 436 083 ( IRL )

ALARA URANIUMLIMITED A.B.N. 27 122 892 719

Appendix 3Y Change of Director’s Interest Notice

Class		ORDINARY FULLY PAID SHARES	ORDINARY FULLY PAID SHARES
Direct or indirect interest	Direct	Indirect		Total
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to therelevantinterest.	-	Held by IRL and OEQ as described above		N/A
No. of securities held prior to change	98,242	9,332,744 held by OEQ 180,000 held byIRL		9,610,986
Date of change	-	-		-
Number acquired	-	-	-	-
	-	**Sub-Total **	-	-
Number disposed	-	-		-
Value /Consideration Note: If consideration is non- cash, provide details and estimated valuation	-	-	-	-
		-	-
		-	-
		-	-
		**Sub-Total **	-
No. of securities held after change	98,242	9,332,744 held by OEQ 180,000 held byIRL		9,610,986
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation inbuy-back	-	-		-

Class	(with exercise price	(with exercise price	Listed Options of 25 cents and expiring on 30 June 2009)	Listed Options of 25 cents and expiring on 30 June 2009)	Listed Options of 25 cents and expiring on 30 June 2009)
Direct or indirect interest	Direct		Indirect		Total
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to therelevantinterest.	-		Held by IRL and OEQ as described above		N/A
Date of change	-		-		-
No. of securities held prior to change	-		9,131,205 held by OEQ 135,000 held byIRL		9,266,205
Number acquired
	**Sub-total **	-	**Sub-total **	-	-
Number disposed	None		None		None
Value /Consideration Note: If consideration is non- cash, provide details and estimated valuation	-	-	-	-	-
			-	-
			-	-
			-	-
	**Sub-total **	--	**Sub-total **	-	-
No. of securities held after change	-		9,131,205 held by OEQ 135,000 held byIRL		9,266,205
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation inbuy-back	-		-		-

• See chapter 19 for defined terms. 30/9/2001

Appendix 3Y Page 2

ALARA URANIUMLIMITED A.B.N. 27 122 892 719

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Detailof contract	Not Applicable
Nature of interest	Not Applicable
Name of registered holder (if issued securities)	Not Applicable
Date of change	Not Applicable
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relationtowhichtheinteresthas changed	Not Applicable
Interest acquired	Not Applicable
Interest disposed	Not Applicable
Value/Consideration Note: If consideration is non-cash, provide details and anestimatedvaluation	Not Applicable
Interest after change	Not Applicable

Signature of Director: �---------------------------------------------------------Date: 24 September 2008 Farooq Khan

• See chapter 19 for defined terms. 30/9/2001

Appendix 3Y Page 3