GREENWING RESOURCES LTD — Major Shareholding Notification 2007

May 17, 2007

BASS METALS LTD

18 May 2007

The Manager Companies Company Announcements Australian Stock Exchange 20 Bridge Street Sydney NSW 2000

By: e-lodgement (ASX code: BSM)

Dear Sir

RE: SUBSTANTIAL SHAREHOLDING - VOLUNTARY ESCROWED SHARES

Bass Metals Ltd ("BSM" or "the Company") has a 'technical' relevant interest in 6,700,000 BSM ordinary shares held by Saracen Metals Pty Ltd and Clancy Exploration Limited due to the restriction on their disposal by Saracen Metals Pty Ltd and Clancy Exploration Limited under voluntary escrow arrangements. As such, the Company is required by section 671B of the Corporations Act 2001 (Cth) to lodge Substantial Holder notices. The attached notice is required to be lodged as a result of the change in percentage holding for these 6,700,000 voluntary escrowed BSM shares due to dilution arising from new Shares issued pursuant to the Company's recent renounceable rights issue.

The Company notes that BSM has no right to dispose of these 6,700,000 ordinary shares held by Saracen Metals Pty Ltd and Clancy Exploration Limited and the Company does not control the voting rights attaching to these ordinary shares.

Please find attached the Form 604 'Notice of Change of Interests of Substantial Holder' as required by section 671B of the Corporations Act 2001 (Cth).

Yours sincerely

Susan Hunter Company Secretary

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	BASS METALS ******* ________ --------------------------------------
ACN/ARSN	$169$ 933 995 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ________ --------------------------------------

1. Details of substantial holder(1)

Name	BASS	.	METALS LTD - due to voluntary escrow agreements
ACN/ARSN (if applicable)	MAAAAAAAAAAmmmmmm	سموه	,,,,,,,,,,,,,,,,,,

There was a change in the interests of the substantial holder on	23/4/07
The previous notice was given to the company on	N / 1 / 07
The previous notice was dated	11170

2. 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) $\left| \right|$ in when last required, and

------------------------ Class of securities (4)	Previous notice		Present notice
	----- Person's votes	-------------------------------------- offing dower	------------------ ________ votes
. cnares	1,000.000 -	0. A	v	.
BULLER CARDS TO BE	------------

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 voting securities of the company or scheme, since the
substantial holder was last required to give

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to chance (7)	Class and number of securities affected	Person's votes affected
1515107	Bass Metals Ltd	300,000 shores come	ΝA	ΝA	NH.
123 4107	Bass Metals Ltd	piwian wising		N٨	- 八八
		ISSNect pursument lanusacctus dated 1613107

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
معصب	attached. - Amnexute	л.

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 (if applicable) -------------------------------------- .	. ------------------------ ______ association ******** ------------------ _____
. . .	-------------------------------------- _____ _____

6. Addresses

The addresses of persons named in this form are as follows:

_________ . Name	. ________ ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, . .
--------------------------------------	------ . $\sim$ . . Put 1999 .
________ --------- ----------	. ____ . . -------------------------------------- ____
	_____ -------------------------------------- _____ .

Signature

orint name	________	Susan Patricia Hunter	________	capacity			Company Secretary ________
sign here			.	date	- 73 - 1 ⋗	- 701	-----------------------------------	.

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an
  equity trust), the names could be included in an ame $\langle 1 \rangle$ throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form
• See the definition of "associate" in section 9 of the Corporations Act 2001. $\omega$
• See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001. (3)
• The voting shares of a company constitute one class unless divided into separate classes. $|4\rangle$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $\left| \Gamma_1 \right|$
• 16) include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any 勧 document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to (b) which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, becom'e $\sigma$ entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• If the substantial holder is unable to determine the identity of the person (eg. If the relevant interest arises because of an option) write "unknown". (8)
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. 働

F E
Į ŧ ֘֝֬

Holder of relevant interest	Registered Holder of securities	entitled to be holder (8) registered Person 35	Nature of Relevant Interest (6)	Class and number of securities	Person's Votes
Bass Metals Ltd - due to voluntary escrow	Saracen Metals Pty Ltd	Metals Pry Ltd Saracen	Shares beneficially held by Saracen Metals Pty Ltd	6,400,000 ordinary fully paid shares	7.65%
arrangements in place.	Clancy Exploration Limited	Clancy Exploration Limited	between Bass Metals NOTE - These shares "Deed of Assignment" transferred to Clancy Exploration Australia were previously held Exploration Australia Ltd, Geoinformatics Exploration Limited Exploration Limited. Pty Ltd and Clancy on 16 May 2007 in by Geoinformatics Shares beneficially Exploration Limited. accordance with a Pty Ltd and were held by Clancy	300,000 ordinary fully paid shares	0.36%

This is Annexure A of 1 page referred to in form 604 'Notice of change of interests of substantial holder'.

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