CAZALY RESOURCES LIMITED — Director's Dealing 2007

Jun 20, 2007

20^th June 2007

ASX Release

JOINT MANAGING DIRECTOR EXERCISES OPTIONS

The Board of Cazaly Resources Limited (ASX Code: CAZ) confirms that Mr. Nathan McMahon has exercised a further 500,000 options at \$0.4436 raising a further \$221,800.

The Company remains committed to their ongoing exploration activities as well as continued legal action on the Shovelanna project.

This transaction continues the practice of the Directors converting options in the Company.

Yours sincerely

Nathan McMahon

Managing Director

www.cazalytesorices.com.au T: 08 9360 4600 F: 08 9381 5900