CAPRICORN METALS LTD — Director's Dealing 2008

Aug 17, 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 MALAGASY MINERALS LIMITED ABN 84 121 760 105

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	MAX D.J. COZIJN
Date of last notice	16/07/08

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.

gIn the case of a trust, this inclNote: In the case of a company i	gIn the case of a trust, this inclNote: In the case of a company i	udes interests in the trust made avaterests which come within paragraph (i	udes interests in the trust made avaterests which come within paragraph (i	ilable by the responsible entity of tof the definition of “notifiable interest	he trustof a director” should be disclosed in this	he trustof a director” should be disclosed in this
,part.Direct or indirect int
	Direct or indirect int	rest
			(1) DIRE	CT (2) INDIRECT (3) IN	DIRECT
	Nature of indirect in	terest	(2) DIPL	MAT HOLDINGS PTY L	TD <ATF SUPRERMAX	F>
	(including registeredNote: Provide details of the cirise to the relevant interest.	holder)rcumstances giving	(3) DIPLO	MAT HOLDINGS PTY LT	D
	Date of change		13 & 15/08	/08
	No. of securities h	eld prior to	(1) 10	001 SHARES
	change		(2) 5000	000 SHARES (3) 90000	SHARES
			,	, ,
	Cl
	ass		SHARES
	Nb id
	umer acqure
	Number disposed		NIL
	Value/ConsiderationNote: If consideration is non-cash provide details		$2,060
	and estimated valuation	,
	No. of securities held	after change	(1) 10,001	SHARES
			(2) 5,000,0	00 SHARES (3) 100,00	0 SHARES
	Nature of change
	Example: on-market trade,exercise of options, issue odividend reinvestment plan, p	off-market trade,f securities underarticipation in buy-	ON MARK	ET PURCHASE
back	back

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

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	Agreement to issue options
Nature of interest	1 million 20c Unlisted Options to be issued subject toshareholder approval upon successful listing
Name of registered holder(if issued securities)	-
Date of change	-
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	-
Interest acquired	-
Interest disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	-
Interest after change	-

18/08/08

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002