ELEMENT 25 LIMITED — Director's Dealing 2011

Sep 4, 2011

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	MONTEZUMA MINING COMPANY LTD
ABN	16 119 711 929

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	Seamus Cornelius
Date of last notice	5 July 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 relevant interest.	(b) Held by Sino West Assets Limited, a company associated with Mr Cornelius. (c) Held by Kongming Investments Limited, a company associated with Mr Cornelius
Date of change	31 August 2011
No. of securities held prior to change	(a) 12,500 Listed options (20 cent, expiry 31/08/2011 (b) 886,637 Ordinary fully paid shares 132,500 Listed options (20 cent, expiry 31/08/2011) (c) 1,414,518 Ordinary fully paid shares 422,500 Listed Options (20 cents, expiry 31/08/2011) 3,000,000 Unlisted options (58 cent, expiry14/12/2013)
Class	i) Ordinary Fully Paid Shares ii)20 cent options expiring31 August 2011
Number acquired	i) (a) 12,500 Ordinary fully paid shares (b) 132,500 Ordinary fully paid shares (c) 422,500 Ordinary fully paid shares
Number disposed	ii) (a) (12,500) Listed Options (20 cent expiry 31/08/2011 (b) (132,500) Listed Options( 20 cent, expiry 31/08/2011) (c) (422,500) Listed Options (20 cent, expiry 31/08/2011)
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	i) (a) $2,500.00 (b) $26,500.00 (c) $84,500.00

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change (a) 12,500 Ordinary fully paid shares (b) 1,019,137 Ordinary fully paid shares (c) 1,837,018 Ordinary fully paid shares 3,000,000 Unlisted options (58 cent, expiry 14/12/2013) Nature of change Exercise of Options Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

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.

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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
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Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed No above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade N/A to proceed during this period? If prior written clearance was provided, on what date was this N/A provided?

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John Ribbons Company secretary 5 September 2011

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

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	MONTEZUMA MINING COMPANY LIMITED
ABN	46 119 711 929

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	Justin Brown
Date of last notice	24 August 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 & Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	(b) Held by Aradia Ventures Pty Ltd, a company associated with Mr Brown. (c) Held by Mr Brown’s wife
Date of change	31 August 2011
No. of securities held prior to change	a) 62,500 ordinary shares b) 2,037,500 ordinary shares 2,000,000 (20 cent options), expiry 30/11/2012 500,000 (65 cent options), expiry 30/11/2015 c) 10,000 ordinary shares 2,500 (20 cent options), expiry 31/8/2011
Class	i) Ordinary Fully Paid Shares ii) 20 cent options expiring 31 August 2011
Number acquired	i) (c) 2,500 ordinary fully paid shares
Number disposed	ii) (c) (2,500) 20 cent options, expiry 31 August 2011
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	i) (c) $1,500

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change a) 62,500 ordinary shares b) 2,037,500 ordinary shares 2,000,000 (20 cent options), expiry 30/11/2012 500,000 (65 cent options), expiry 30/11/2015 c) 12,500 ordinary shares Nature of change Exercise of Options Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

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.

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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
----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Were the interests in the securities or contracts No detailed above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow N/A the trade to proceed during this period?

If prior written clearance was provided, on what N/A date was this provided?

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John Ribbons Company secretary

5 September 2011

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3