CANNINDAH RESOURCES LIMITED — Director's Dealing 2007

Feb 21, 2007

Appendix 3Y

Rule 3.19A.2

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: Queensland Ores Limited
ABN: 35108146694

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 Roger Marshall
Date of last notice	9 May 2006

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 interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Mr Marshall has an indirect beneficial interest in shares held by Myrtlemont Pty Ltd.
Date of change	31 January 2007
No. of securities held prior to change	350,000 fully paid ordinary shares and - 200,000 options
Class	Fully paid ordinary shares (QOL) and options (QOLO)
Number acquired	200,000 fully paid ordinary shares
Number disposed	$200,000$ options
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$60,000 to exercise 200,000 options expiring 31 January 2007
No. of securities held after change	550,000 fully paid ordinary shares.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Exercise of Options.

⁺ See chapter 19 for defined terms.

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
Nature of interest
Name of registered holder
(if issued securities)
Date of change
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
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.