CAZALY RESOURCES LIMITED — Director's Dealing 2004

Sep 13, 2004

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	Cazaly Resources Limited
ABN	23 101 049 334

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	Kent Michael Hunter
Date of last notice	2 February 2004

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.	Indirect: Mr K M Hunter $\leq$ The Houndy Family A/C $\geq$
Date of change	I September 2004
No. of securities held prior to change	Direct: 827,300 Fully Paid Ordinary 275,767 \$0.20 cent Option exercisable on or before 31/1/06
Class	Fully Paid Ordinary Shares
Number acquired	Indirect: 50,000
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$9000.00

⁺ See chapter 19 for defined terms.

No. of securities held after change	Direct: 827,300 Fully Paid Ordinary 275,767 \$0.20 cent Option exercisable on or before 31/1/06
	Indirect: 50,000 Fully Paid Ordinary
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On-market trade

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.