CAZALY RESOURCES LIMITED — Director's Dealing 2007

Jun 27, 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	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	11 December 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 (1)
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Indirect $(1)$ : Kouta Bay Pty Ltd <the familyA/C Indirect (2): Shares owned by Mining Corporate Advisory Services Pty Ltd, a company in which Mr Hunter has a relevant interest.
Date of change	26 June 2007

⁺ See chapter 19 for defined terms.

No. of securities held prior to change	Direct: 1,003,066 Fully Paid Ordinary Shares
	250,000 \$0.2938 cent Options exercisable on or before 31/8/07
	250,000 \$0.4436 cent Options exercisable on or before 31 August 2008
	Indirect $(1)$ : 50,000 Fully Paid Ordinary Shares
	200,000 \$1.9436 Options exercisable on or before 30 November 2009
	Indirect (2): 25,000 Fully Paid Ordinary Shares
Class	Fully Paid Ordinary Shares
Number acquired	Direct: 250,000
Number disposed	Direct: 250,000 \$0.2938 options exercisable on or before 31/8/07
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Direct: \$73,450
No. of securities held after change	Direct: 1,253,066 Fully Paid Ordinary Shares
	250,000 \$0.4436 cent Options exercisable on or before 31 August 2008
	Indirect $(1)$ : 50,000 Fully Paid Ordinary Shares
	200,000 \$1.9436 Options exercisable on or before 30 November 2009
	Indirect (2): 25,000 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.