CAPRICORN METALS LTD — Director's Dealing 2008

Jul 9, 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	7/07/08

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.

Direct or indirect interest	(1) DIRECT (2) INDIRECT (3) INDIRECT
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances givingrise to the relevant interest.	(2) DIPLOMAT HOLDINGS PTY LTD (3) DIPLOMAT HOLDINGS PTY LTD
Date of change	7/07/08
No. of securities held prior tochange	(1) 10,001 SHARES(2) 5,000,000 SHARES
Class	SHARES
Number acquired	65,000 SHARES
Number disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide detailsand estimated valuation	$16,811
No. of securities held after change	(1) 10,001 SHARES(2) 5,000,000 SHARES (3) 65,000 SHARES
Nature of changeExample: on-market trade, off-market trade,exercise of options, issue of securities underdividend reinvestment plan, participation in buy-back	ON MARKET PURCHASE

• 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 to
	shareholder approval upon successful listing
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	-

10/07/08

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002