FIRST LITHIUM LIMITED — Director's Dealing 2010

May 16, 2010

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 Advanced Engine Components Limited ACN 009 081 770

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	Pun Kin Wa (Albert)
Date of last notice	7 May 2010

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 interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	698 Capital International Limited - director
Date of change	17 May 2010 - unquoted options

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	Pun Kin Wa333,334 fully paid ordinary shares.698 Capital International Limited – director84,423,731 fully paid ordinary shares.5,000,000 unquoted options exercisable at 20cents on or before 31 December 2010.375,000 unquoted options exercisable at 4.3cents on or before 30 November 2011.375,000 unquoted options exercisable at 4.4cents on or before 30 November 2011.2,125,000 unquoted options exercisable at4.7 cents on or before 30 November 2011.1,375,000 unquoted options exercisable at3.6 cents on or before 30 November 2011.1,375,000 unquoted options exercisable at3.7 cents on or before 30 November 2011.1,375,000 unquoted options exercisable at7.1 cents on or before 30 November 2011.1,375,000 unquoted options exercisable at6.2 cents on or before 30 November 2011.1,000,000 unquoted options exercisable at5.65 cents on or before 30 November 2011.375,000 unquoted options exercisable at 5.9cents on or before 30 November 2011.375,000 unquoted options exercisable at 5.4cents on or before 30 November 2011.375,000 unquoted options exercisable at 5.3cents on or before 30 November 2011.375,000 unquoted options exercisable at 5.0cents on or before 30 November 2011.
Class	Unquoted options.
Number acquired	3,000,000 unquoted options exercisable at5.5 cents on or before 30 November 2011.
Number disposed	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

l	l
	l	ii
	Vaue/Co	nsderaton				Ni	per op	tion
	Note: If con	sideration is non-cash		, provid	e details and estimated
	valuation
	No. of securities held afte			r change		Pun Kin		Wa
						333,334 f		ully paid ordinary shares.
						698 Capit		al International Limited – director
						84,423,73		1 fully paid ordinary shares.
						5,000,00cents on o		unquoted options exercisable at 20r before 31 December 2010.
						37	5000	nuoted otio	ns exercisable at 43
							,	q p	.
						cen	ts on o	r before 30 No	vember 2011.
						37	5000 u	nquoted optio	ns exercisable at 4.4
							,
						cen2	ts on o2500	r before 30 Nod	vember 2011.i ibl
						,,		unquote optons exercsae at
						4.7 cents1375000		on or before 30 November 2011.unuoted otions exercisable at
						,,3.6 cents		q pon or before 30 November 2011.
						1,375,0003.7 cents		unquoted options exercisable aton or before 30 November 2011.
						1,375,00071		unquoted options exercisable atbf 30 Nb 2011
						. cents		on or eore ovemer .
						137500		d i ibl
						,,62 cents		unquote optons exercsae aton or before 30 November 2011
						.		.
						1,000,000		unquoted options exercisable at
						565 cent		on or before 30 November 2011
						.		.
						375,000 u		nquoted options exercisable at 5.9
						cents on o35000		r before 30 November 2011.d i ibl 54
						7,		nquote optons exercsae at .
						cents on o		r before 30 November 2011.
						375,000		nquoted options exercisable at 5.3
						cents on o		r before 30 November 2011.
						375,000 ucents on		nquoted options exercisable at 5.0r before 30 November 2011
						3,000,000		.unquoted options exercisable at
						5.5 cents		on or before 30 November 2011.
	Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back					Issue of unquoted options pursuant toResolution 2 approved at the GeneralMeeting of shareholders on 11 May 2010.
h 1 f dfid

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

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	NA
Nature of interest	NA
Name of registered holder	NA
(if issued securities)
Date of change	NA
No. and class of securities to	NA
which interest related prior to
change
Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired	NA
Interest disposed	NA
Value/Consideration	NA
Note: If consideration is non-cash, provide details and
an estimated valuation
Interest after change	NA

• See chapter 19 for defined terms.

Appendix 3Y Page 4

11/3/2002