GOLDEN CROSS RESOURCES LTD — Director's Dealing 2006

Oct 5, 2006

Appendix 3Y

Rule 3,19A.2

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 GOLDEN CROSS RESOURCES LTD

ABN 65 063 075 178

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the directors for the purposes of section 205G of the Corporations Act.

Name of Director	David Timms
Date of last notice	21 April 2006

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 (1) 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 relevant interest.	Shares acquired and sold by members of Timms family (Jennifer, Daven, Braden and Quentin) and Golden Cross Plan Managers, the manager of the GCR Employee Share Acquisition Scheme. The acquisition of shares was following the exercise of quoted 5 cent options.
Date of change	5 and 6 October 2006
No. of securities held prior to change	25,693,489 shares, 7,169,572 quoted options, 1.5 million Director Options exercisable at 15 cents by 30 November 2006, and 1,000,000 employee options exercisable at 10 cents by 31 March 2011.
Class	Ordinary fully paid shares
Number acquired	7,169,572 shares
Number disposed	2,569,278 shares
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	5 cents per share paid on acquisition. Average of 5.7 cents per share received on sale.

⁺ See chapter 19 for defined terms.

No. of securities held after change	30,293,783 shares, 1.5 million Director Options exercisable at 15 cents by 30 November 2006, and 1,000,000 employee options exercisable at 10 cents by 31 March 2011.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issue of 7,169,572 shares following exercise of 7,169,572 quoted 5 cent options. Sale of 2,569,278 shares on-market.

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	Not applicable
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

Daven Timms Company Secretary 6 October 2006

$+$ See chapter 19 for defined terms.