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	Antony Middleton
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	Indirect
Nature of indirect interest	Jildane Pty Ltd <Middleton Super Fund
(including registered holder)	A/C>– Mr. Middleton is a director of
Note: Provide details of the circumstances giving rise to the relevantinterest.	Jildane Pty Ltd and a member of the
	Middleton Super Fund.
Date of change	1 April 2010 – 197,000 Shares
	14 May 2010 – 65,667 Shares

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	Jildane Pty Ltd <Middleton Super FundA/C>:4,750,597 fully paid ordinary shares400,000 unquoted options exercisable at 18cents on or before 31 December 2010.30,000 unquoted options exercisable at 4.3cents on or before 30 November 2011.30,000 unquoted options exercisable at 4.4cents on or before 30 November 2011.68,000 unquoted options exercisable at 4.7cents on or before 30 November 2011.30,000 unquoted options exercisable at 3.6cents on or before 30 November 2011.30,000 unquoted options exercisable at 3.7cents on or before 30 November 2011.30,000 unquoted options exercisable at 7.1cents on or before 30 November 2011.30,000 unquoted options exercisable at 6.2cents on or before 30 November 2011.30,000 unquoted options exercisable at 5.9cents on or before 30 November 2011.30,000 unquoted options exercisable at 5.4cents on or before 30 November 2011.30,000 unquoted options exercisable at 5.3cents on or before 30 November 2011.30,000 unquoted options exercisable at 5.0cents on or before 30 November 2011.
Class	Fully paid ordinary shares
Number acquired	1 April 2010 – 197,000 Shares14 May 2010 – 65,667 Shares
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	197,000 Shares at 5c per Share.65,667 Shares at 4c per Share.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

Jildane Pty Ltd <Middleton Super FundA/C>:5,013,264 fully paid ordinary shares400,000 unquoted options exercisable at 18cents on or before 31 December 2010.30,000 unquoted options exercisable at 4.3cents on or before 30 November 2011.30,000 unquoted options exercisable at 4.4cents on or before 30 November 2011.68,000 unquoted options exercisable at 4.7cents on or before 30 November 2011.30,000 unquoted options exercisable at 3.6cents on or before 30 November 2011.30,000 unquoted options exercisable at 3.7cents on or before 30 November 2011.30,000 unquoted options exercisable at 7.1cents on or before 30 November 2011.30,000 unquoted options exercisable at 6.2cents on or before 30 November 2011.30,000 unquoted options exercisable at 5.9cents on or before 30 November 2011.30,000 unquoted options exercisable at 5.4cents on or before 30 November 2011.30,000 unquoted options exercisable at 5.3cents on or before 30 November 2011.30,000 unquoted options exercisable at 5.0cents 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

1 April 2010 – off market transfer.14 May 2010 – off market transfer.

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(if issued securities)	NA
Date of change	NA

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	NA
Interest acquired	NA
Interest disposed	NA
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	NA
Interest after change	NA

• See chapter 19 for defined terms.

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