CARNAVALE RESOURCES LIMITED — Director's Dealing 2009

Jul 1, 2009

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 - CARNAVALE RESOURCES LIMITED

ABN: 49 119 450 243

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	ADAM SIERAKOWSKI
Date of last notice	6 December 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 relevant interest.	IML Holdings Pty Ltd - Mr Sierakowski is a director and controlling shareholder.
Date of change	30 June 2009.
No. of securities held prior to change 750,000 ordinary fully paid shares 750,000 Listed options (CAVO)	IML Holdings Pty Ltd. IML Holdings Pty Ltd.
Class	Listed options (CAVO).
Number acquired	N/A.
Number disposed 750,000 Listed options (CAVO)	IML Holdings Pty Ltd.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil.

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change 750,000 ordinary fully paid shares IML Holdings Pty Ltd. Nature of change Expiry of Options. Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

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.

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Detail of contract N/A.
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
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• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

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 - CARNAVALE RESOURCES LIMITED ABN: 49 119 450 243

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	RON GAJEWSKI
Date of last notice	16 February 2009

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.	Vienna Holdings Pty Ltd - Mr Gajewski is a director and controlling shareholder.
Date of change	30 June 2009.
No. of securities held prior to change 3,296,400 ordinary fully paid shares 2,992,500 Listed options (CAVO)	Vienna Holdings Pty Ltd. Vienna Holdings Pty Ltd.
Class	Listed options (CAVO).
Number acquired	N/A.
Number disposed 2,992,500 Listed options (CAVO)	Vienna Holdings Pty Ltd.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil.

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change 3,296,400 ordinary fully paid shares Vienna Holdings Pty Ltd. Nature of change Expiry of Options. Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

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.

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----- Start of picture text -----

Detail of contract N/A.
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
----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

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 - CARNAVALE RESOURCES LIMITED

ABN: 49 119 450 243

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	PETER CHRISTIE
Date of last notice	21 July 2008

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	Direct and Indirect.
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Waterbeach Investments Pty Ltd - Mr Christie is a director and shareholder. Chelmayne Pty Ltd - Mr Christie is a director and shareholder.
Date of change	30 June 2009.
No. of securities held prior to change 250,001 ordinary fully paid shares 250,001 Listed options (CAVO) 100,000 ordinary fully paid shares 100,000 Listed options (CAVO) 20,000 ordinary fully paid shares 20,000 Listed options (CAVO)	Peter James Christie. Peter James Christie. Waterbeach Investments Pty Ltd. Waterbeach Investments Pty Ltd. Chelmayne Pty Ltd. Chelmayne Pty Ltd.
Class	Listed Options (CAVO).

• See chapter 19 for defined terms.

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Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired	N/A.
Number disposed 250,001 Listed options (CAVO) 100,000 Listed options (CAVO) 20,000 Listed options (CAVO)	Peter James Christie. Waterbeach Investments Pty Ltd. Chelmayne Pty Ltd.
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil.
No. of securities held after change 250,001 ordinary fully paid shares 252,000 ordinary fully paid shares 20,000 ordinary fully paid shares	Peter James Christie. Waterbeach Investments Pty Ltd. Chelmayne Pty Ltd.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Expiry of Options.

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	N/A.
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.

Appendix 3Y Page 2

11/3/2002