Austral Gold Limited — Director's Dealing 2014

Dec 21, 2014

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: Austral Gold Limited ABN: 30 075 860 472

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 Eduardo Elsztain
Date of last notice	6 November 2013

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
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevant interest.	Shares are held at local broker in US registeredholder;Citicorp Nominees Pty Limited and HSBCCustody Nominees(Australia)Ltd
Date of change	19 December 2014
No. of securities held prior to change	4,686,206 through Citicorp115,066,915 through Citicorp775,500 through HSBC24,289,330through HSBC
Class	Ordinary fully paid shares
Number acquired	307,930,858
Number disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	A$61,586,171.64

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	4,686,206 through Citicorp422,997,773 through Citicorp775,500 through HSBC24,289,330 through HSBC
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Issue of shares to Inversiones Financieras DelSur S.A. (IFISA), such that all indebtednessowed by the Company to IFISA will be fullyrepaid. Refer to the Notice of Annual GeneralMeeting2014 for further details.

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.

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 relatedprior to changeNote: 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/ConsiderationNote: If consideration is non-cash, provide details and an estimated valuation	N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailedabove traded during a+closed period where priorwritten clearancewas required?	No
If so, was prior written clearance provided to allow thetrade to proceed during this period?	N/A
If prior written clearance was provided, on what datewas this provided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

18/10/2013