Austral Gold Limited — Director's Dealing 2011

Oct 17, 2011

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 AUSTRAL GOLD LIMITED ABN 30 075 860 472

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	WAYNE HUBERT
Date of appointment	18 OCTOBER 2011

Part 1 - Director’s relevant interests in securities of which the director is the registered holder 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.

Number & class of securities

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

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

	Name of holder & nature of interestNote: Provide details of the circumstances giving riseto the relevant interest.Merrill Lynch (Australia) Nominees PtyLimited	Number & class of Securities1,750,000 ordinary shares

Part 3 – 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	Put and Call Agreement dated 4 August 2011
Nature of interest	Put right at $0.2678 per share; andcall option at $0.2678 per shareBothare exercisable4 August2012
Name of registered holder(if issued securities)	Put: Merrill Lynch (Australia) Nominees PtyLimited (as referred to in part 2 of this form)Call: InversionesFinancieras delSurSA
No. and class of securities to whichinterest relates	Put: 1,750,000 ordinary shares (as referredto in part 2 of this form)Call: 2,500,000 ordinary shares

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002