GRANGE RESOURCES LIMITED. — Director's Dealing 2005

May 3, 2005

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	Geoffrey Lloyd Warburton Wedlock
Date of last notice	1 April 2005

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 interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	(a)Triglow Pty Ltd as trustee for the Wedlock Superannuation Fund G L W Wedlock as director & shareholder (b) Keypalm Pty Ltd as trustee for The Wedlock Family Trust G L W Wedlock as sole director & sole shareholder
Date of change	2 May 2005
No. of securities held prior to change	(a) 104,000 - Fully Paid Ordinary Shares (b) 1,500,000 - 50 cent Options 30/6/07 expiry
Class	Options
Number acquired	4,000,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil

$\div$ See chapter 19 for defined terms.

No. of securities held after change	(a) 104,000 - Fully Paid Ordinary Shares (b) 1,500,000 - 50 cent Options 30/6/07 expiry 1,500,000 - \$1.25 Options 30/6/07 expiry 1,500,000 - \$1.50 Options 30/6/08 expiry 1,000,000 - \$2.50 Options 30/6/11 expiry
Nature of change	Options issued pursuant to the Grange Resources
Example: on-market trade, off-market trade, exercise of options, issue of securities under	Limited Directors' and Officers' Option Plan and
dividend reinvestment plan, participation in buy-back	approved by shareholders.

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	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 estimated valuation	N/A
Interest after change	N/A

$+$ See chapter 19 for defined terms.