GRANGE RESOURCES LIMITED. — Major Shareholding Notification 2011

Feb 9, 2011

FORM 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/SchemeHORSESHOE METALS LIMITEDACN/ARSN123 133 1661.Details of substantial holder (1)NameGRANGE RESOURCES LIMITED & ASSOCIATESACN/ARSN (if applicable)009 132 405There was a change in the interests of thesubstantial holder on 7/2/2011The previous notice was given to company on 24 / 7 / 2010The previous notice was dated 24 / 7 / 2010

1. Previous and present voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class ofsecurities (4)	PreviousNotice		PresentNotice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
ORDINARY SHARES("Ord")	3,922,313	7.20%	3,392,313	6.04%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in the voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevantinterest changed	Nature of change (6)	Consideration given inrelation to change (7)	Class andnumber ofsecurities affected	Person’s votesaffected
3/2/11	GrangeResourcesLimited	On market sale	$251,836	Ord 400,000	-0.73%
4/2/11	GrangeResourcesLimited	On market sale	$83,018	Ord 130,000	-0.24%
4/2/11	GrangeResourcesLimited	Allotment of1,684,100ordinary shares byHorseshoe MetalsLimited	N/A	N/A	-0.19%

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevantinterest	Registered holder ofsecurities	Person entitled to beregistered as holder (8)	Nature of relevant interest(6)	Class andnumber ofsecurities	Person’s votes
GrangeResourcesLimited &Associates	GrangeResourcesLimited	GrangeResourcesLimited	Relevant interestunder subsection608(1) of theCorporations Act2001 (Cth)	Ord3,129,813	5.57%
GrangeResourcesLimited &Associates	Horseshoe GoldMine Pty Ltd	Horseshoe GoldMine Pty Ltd	Relevant interestunder subsection608(1) of theCorporations Act2001(Cth)	Ord 262,500	0.47%

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN Nature of association

1. Associates The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

		Name andACN/ARSN	Nature ofassociation
		Horseshoe Gold Mine Pty	Fully owned subsidiary of Grange Resources Limited Group
		Ltd
		(ACN 008 921 211)
7.	Addresses
The	addresses of persons named in this form are as follows:
		Name	Address
		GrangeResourcesLimited	Level 11,200 St GeorgesTce,Perth WA6000
		Horseshoe Gold Mine Pty	Level 11, 200 St Georges Tce, Perth WA 6000
		Ltd

Signature

print name Pauline Carr capacity Secretary

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sign here date 9 / 2 / 2011