FORTUNA METALS LTD — Director's Dealing 2010

Dec 13, 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 FRONTIER RESOURCES LIMITED ABN 96 095 684 389

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	Warren John Staude
Date of last notice	30 November 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	Indirect
		Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise tothe relevant interest.	Rhonda Staude
		Date of change	14 December 2010
		No. of securities held prior to change	490,570	440,570	500,000	500,000
ClassORDINARYLISTEDOPTIONS2010UNLISTEDOPTIONS$0.0431/12/2010UNLISTEDOPTIONS$0.0531/12/2010Number acquired440570Number disposed440,570Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation$19,825.65No. of securities held after change931,140-500,000500,000
		Class	ORDINARY	LISTEDOPTIONS	UNLISTEDOPTIONS	UNLISTEDOPTIONS
				2010	$0.0431/12/2010	$0.0531/12/2010
		Number acquired	440570
		Number disposed		440,570
		Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation		$19,825.65
		No. of securities held after change	931,140	-	500,000	500,000

• See chapter 19 for defined terms.

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change Exercise of Listed Options at $0.045 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.

==> picture [433 x 314] intentionally omitted <==

----- Start of picture text ----- Detail of contractNature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract in relation to whichthe interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuationInterest after change----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3Y Page 2