ARGENT MINERALS LIMITED — Director's Dealing 2011

Feb 28, 2011

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 ARGENT MINERALS LIMITED

ABN 124 780 276

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	Marcus Michael
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	Direct and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances givingrise to the relevant interest.	Riverfront Nominees Pty Ltd – Mr Michael is aDirector and controlling Shareholder
Date of change	28 February 2011
No. of securities held prior to change10,000 Ordinary fully paid shares (ORD)2,625,000 Ordinary fully paid shares (ORD)10,000 Listed Options (ORDO)2,000,000 Listed Options (ORDO)	Marcus MichaelRiverfront Nominees Pty LtdMarcus MichaelRiverfront Nominees Pty Ltd
Class	Unlisted Options exercisable at $0.20 on orbefore 28 February 2013
Number acquired	1,000,000
Number disposed	N/A

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non-cash, providedetails and estimated valuation	NIL
No. of securities held after change10,000 Ordinary fully paid shares (ORD)2,625,000 Ordinary fully paid shares (ORD)10,000 Listed Options (ORDO)2,000,000 Listed Options (ORDO)1,000,000 Unlisted Options	Marcus MichaelRiverfront Nominees Pty LtdMarcus MichaelRiverfront Nominees Pty LtdMarcus Michael
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestmentplan, participation in buy-back	Issue of unlisted share options approved at theArgent Minerals Limited shareholders meetingheld on 28 February 2011

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
Name of registered holder(if issued securities)
Date of change
No. and class of securities to whichinterest related prior to changeNote: Details are only required for acontract in relation to which theinterest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash,provide details and an estimatedvaluation
Interest after change

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 2