AUSTRALIAN VANADIUM LIMITED — Director's Dealing 2008

Jul 10, 2008

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	Yellow Rock Resources Limited
ABN	90 116 221 740

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	John Charles Geary
Date of last notice	21 February 2007

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 relevantinterest.	(a)Copley Pty Ltd (Director/Shareholder)(b)Copley Pty Ltd <The Geary Super Fund A/C>(Beneficiary)(c)Covella Pty Ltd (Director/Shareholder)
Date of change	(i)7 July 2008(ii)4 July2007
No. of securities held prior to change	Nil
Class	Options (30/11/2009; 20 cents)
Number acquired	(i)(a) 2,000,000 options (30/11/2009; 20 cents)(i)(c) 2,000,000 options (30/11/2009; 20 cents)(ii)(a) 500,000 options (30/11/2009; 20 cents)(ii)(b) 1,000,000 options (30/11/2009; 20 cents)(ii)(c) 1,000,000 options (30/11/2009; 20 cents)
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	(i)(a) $100,000(i)(c) $100,000(ii)Remuneration for past and/or future services.

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

				2	2
No. of securities held after change		2	i /11/	2
		(a),500,(b)1,000,0(c)3,000,0	00 Optons (3000 Options (30/11/00 Options (30/11/	009; 0 cents)2009; 20 cents)2009; 20 cents)
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buy-back		iOff	k f
	s, issuein buy-	()ma(ii) Issue owith th	ret transerf director optionse approval granted	made in accordanceby shareholders at
		the general meeting held on 5 June 2007

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	Not Applicable	Not Applicable	Not Applicable	Not Applicable
Nature of interest	Not Applicable
Name of registered holder(if issued securities)	Not Appl	icable
Date of change
	Not Appl	icable
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	Not Applicable
Interest acquired	Not Applicable
Interest disposed	Not Applicable
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	Not Applicable
Interest after change	Not Applicable

Appendix 3Y Geary

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002