CHALLENGER GOLD LIMITED — Director's Dealing 2009

Dec 8, 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	Sunset Energy Limited
ABN	45 123 591 382

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	David Morris
Date of last notice	20 November 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.	Options issued to Sharky Holdings Pty Ltd atf Morris Family Trust – a company Mr Morris is a director and shareholder
Date of change	4 December 2009
No. of securities held prior to change	Direct 500,000 options exercisable at $0.20 on or before 30 September 2010
Class	Indirect Unlisted options exercisable at $0.10 on or before 30 June 2012
Number acquired	Indirect 500,000
Number disposed	Nil

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	Direct 500,000 options exercisable at $0.20 on or before 30 September 2010 Indirect 500,000 options exercisable at $0.10 on or before 30 June 2012 held by Sharky Holdings 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	Issue of Directors Incentive 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 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.

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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	Sunset Energy Limited
ABN	45 123 591 382

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	David Prentice
Date of last notice	3 June 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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Options issued to Vista Libera Pty Ltd - a company Mr Prentice is a director and shareholder
Date of change	4 December 2009
No. of securities held prior to change	Direct 3,500,000 options exercisable at $0.20 on or before 30 September 2010 Indirect 2,250 fully paid ordinary shares held by Mr David Prentice & Mrs Mirella Rosanna Prentice (D&M Prentice Family A/C)
Class	Indirect Unlisted options exercisable at $0.10 on or before 30 June 2012
Number acquired	Indirect 2,000,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	Direct 3,500,000 options exercisable at $0.20 on or before 30 September 2010 Indirect 2,250 fully paid ordinary shares held by Mr David Prentice & Mrs Mirella Rosanna Prentice (D&M Prentice Family A/C) 2,000,000 options exercisable at $0.10 on or before 30 June 2012 held by Vista Libera 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	Issue of Directors Incentive 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 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

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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	Sunset Energy Limited
ABN	45 123 591 382

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	Michael John Fry
Date of last notice	4 December 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
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Not Applicable
Date of change	4 December 2009
No. of securities held prior to change	Direct 1,050,000 fully paid ordinary shares 500,000 options exercisable at $0.20 on or before 30 September 2010. Indirect 300,000 fully paid ordinary shares held by INXS Pty Ltd, a company of which Michael Fry is a director and shareholder
Class	Direct Unlisted options exercisable at $0.10 on or before 30 June 2012
Number acquired	Direct 1,000,000

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	Direct 1,050,000 fully paid ordinary shares 500,000 options exercisable at $0.20 on or before 30 September 2010. 1,000,000 options exercisable at $0.10 on or before 30 June 2012. Indirect 300,000 fully paid ordinary shares held by INXS Pty Ltd, a company of which Michael Fry is a director and shareholder
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issue of Directors Incentive 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 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.

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