ANDROMEDA METALS LIMITED — Director's Dealing 2007

Dec 18, 2007

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 ADELAIDE RESOURCES LIMITED ABN 75 061 503 375

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	Keith Robert Yates
Date of last notice	23 August 2002

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	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	1. Private company 2. Private superannuation fund
Date of change	25 November 2005
No. of securities held prior to change	Direct Personally - 5,627,278 shares Indirect 1. Keith Yates & Associates Pty Ltd Family Superannuation Fund> 100,000 shares 2. Benjamin Keith Yates 2,273 share 3. Lynette Christine Yates 1,750 shares
Class	Options
Number acquired	1,000,000
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 Note: If consideration is non-cash, provide details and estimated valuation	N/A
No. of securities held after change	Direct - 5,627,278 shares – held personally - 1,000,000 options exercisable at 55 cents expiring on 14 November 2010 Indirect - 100,000 shares – Keith Yates & Associates Pty Ltd Superannuation Fund> Note: Shares held by Benjamin Keith Yates (son) and Lynette Christine Yates (sister) are not now deemed as a “relevant interest” under the Corporations Act 2001.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Options granted through shareholder approval at Company’s AGM on 15 November 2005

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 which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A

• See chapter 19 for defined terms.

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N/A

Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 3

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