DEVEX RESOURCES LIMITED — Major Shareholding Notification 2007

Oct 23, 2007

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ASX ANNOUNCEMENT

SUBSTANTIAL SHAREHOLDING IN URANIUM EQUITIES LIMITED

Attached is a copy of the Notice of Change of Interests of Substantial Shareholder lodged with Uranium Equities Limited today.

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GREG FITZGERALD Company Secretary

24 October 2007

RESOLUTE MINING LIMITED ABN 39 097 088 689 4th Floor, BGC Centre, 28 The Esplanade, Perth, Western Australia 6000. P.O. Box 7232 Cloisters Square, Perth, Western Australia 6850 Telephone : (08) 9261 6100 Facsimile : (08) 9322 7541 Email : contact@resolute-ltd.com.au

form 604

Notice of change of interests of substantial shareholder

Corporations Act 2001 671B

To: company name

Uranium Equities Limited

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Substantial shareholder

name Resolute Mining Limited

gives notice of a change in relevant interests

This notice is given by Resolute Mining Limited on behalf of itself and each of its related bodies corporate.

1. Previous notice

Particulars of the substantial shareholder's entitlements to voting shares in the company at the time at which it was last required to give a substantial shareholding notice to the company are contained in the notice given to the company on

insert date (d/m/y) 17/5/06

The notice was dated (d/m/y) 17/5/06

2. Previous and present entitlement to voting shares

The total number and percentage of shares in each class of voting shares in the company to which the substantial shareholder was entitled when last required, and when now required, to give a substantial shareholding notice to the company, are:

Class of voting shares	Previous notice		Present notice
	Total number	Percentage of class	Total number	Percentage of class
Ordinary	17,666,667	13.3%	16,666,667	8.8%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, relevant interests of the substantial shareholder or an associate in voting shares to which the substantial shareholder is or was entitled since the substantial shareholder was last required to give a substantial shareholding notice to the company are:

Date of change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change	Class and number of shares affected
23/10/07	Resolute Mining Limited	Shares sold by Resolute (Treasury) Pty Ltd on the Australian Securities Exchange in the ordinary course of business.	$0.3m	1,000,000 fully paid ordinary shares

4. Present relevant interests

Particulars of each relevant interest in voting shares to which the substantial shareholder is entitled after the change are:

change are:
Holder of relevant interest	Person entitled to be registered as holder	Nature of relevant interest	Class and number of shares
Resolute Mining Limited	Resolute (Treasury) Pty Ltd	Direct investment	16,666,667 fully paid ordinary shares

5. Changes in association

The following persons mentioned in this form have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial shareholder in relation to voting shares in the company:

Name Nature of association

6. Addresses

The addresses of persons named in this form are:

Name	Address
Resolute MiningLimited	4thFloor,BGC Centre,28 The Esplanade,Perth WA 6000
Resolute(Treasury)PtyLtd	4thFloor,BGC Centre,28 The Esplanade,Perth WA 6000

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Signature

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name
Greg Fitzgerald
signature
date 24/10/07
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~~director,~~ secretary ~~or substantial shareholde~~ r