GRANGE RESOURCES LIMITED. — Director's Dealing 2004

Nov 8, 2004

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	Grange Resources Limited
ABN	80 009 132 405

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	Alexander Henry Nutter
Date of last notice	8 August 2002

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 Interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Not Applicable
Date of change	3 November 2004
No. of securities held prior to change	99,999 - Ordinary Fully Paid Shares 750,000 - 12 Cent Options 30/6/07 Expiry
Class	Ordinary Fully Paid Shares
Number acquired	750,000
Number disposed	Νil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$90,000.00
No. of securities held after change	849,999 - Ordinary Fully Paid Shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Shares issued pursuant to the exercise of unlisted options issued under the Grange Resources Limited Directors' and Officers' Option Plan.

Part 2 - Change of director's interests in contracts

$\div$ See chapter 19 for defined terms.

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	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
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	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an mateulev hatemitea	N/A
Interest after change	N/A

$+$ See chapter 19 for defined terms.