COMET RIDGE LIMITED — Director's Dealing 2012

May 23, 2012

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 30/09/01 Amended 01/01/11

Name of entity COMET RIDGE LIMITED ABN 47 106 092 577

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	TOR MCCAUL
Date of last notice	24 November 2011

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 relevantinterest.	Trudy Jasmine McCaul is the spouse of theDirector
Date of change	17 May 2012
No. of securities held prior to change	5,150,000 unlisted optionsexercisable @ A$0.269 expiring 30.06.12125,000 ordinary shares held by TrudyJasmine McCaulTor McCaul: 175,000 Performance Rights(Tranche 1) vesting 1 July 2012Tor McCaul: 175,000 Performance Rights(Tranche 2) Vesting 1 July 2013

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Class	Class	Class	Class	Ordinary Shares	Ordinary Shares	Ordinary Shares	Ordinary Shares
				Employee PerformPerformance Righshare in Comet Ri	ance Rights, with eacht carrying a right to onedge Limited
Numb	er acquired			2000000 Ordinar	y Shares
				,,
Number disposed	er disposed			NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation				AUS$200,000
No. of securities held after change				Tor McCaul: 5,150,000 unlisted optionsexercisable @ A$0.269 expiring30.06.12.Trudy J McCaul: 125,000 ordinary sharesTor McCaul: 175,000 Performance Rights(Tranche 1) vesting 1 July 2012Tor McCaul: 175,000 Performance Rights
				(Tranche 2) Vesting 1 July 2013T R MCl 2
				or aymond cau: ,000,00Ordinary Shares		,000
Nature ofExample: on-issue of securibuy-back		change
		market trade, off-market trade, exercise of options,ties under dividend reinvestment plan, participation in		On-Market Broker Transfer
Part 2 – CNote: In the casbe disclosed in t
		hange of director’s interests in contracts N/A
		e of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a direchis part.				tor” should
Detail of c		ontract
			N/A
Nature of interest
		nterest
Name of registered holder(if issued securities)
Date of change

Part 2 – Change of director’s interests in contracts N/A

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed
above traded during a+closed period where prior writtenclearance was required?	NO
If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3