GREENWING RESOURCES LTD — Major Shareholding Notification 2008

May 26, 2008

Corporations Law Section 671B

Form 604

Notice of change of interests of substantial holder

To Company Name/Scheme Bass Metals Ltd

ACN/ARSN 109 933 995

1. Details of substantial holder (1) Name Saracen Mineral Holdings Limited ACN/ARSN (if applicable) 009 215 347

There was a change in the interests of the substantial holder on 5/11/2007 The previous notice was given to the company on 24/07/2007 The previous notice was dated 24/07/2007

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) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person’s votes	Voting power (5)	Person’s votes	Voting power (5)
Ordinary shares	6,400,000	7.65%	6,400,000	6.18%

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 a substantial holding notice to the company are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person’s votes affected
5/11/2007	Saracen Mineral Holdings Limited	Dilution of interest on share placement byCompany	N/a	6,400,000	6,400,000

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
Saracen Mineral Holdings Limited	Saracen Mineral Holdings Limited	Saracen Mineral Holdings Limited	Shares beneficially owned by Saracen Mineral Holdings Limited	Ord – 6,400,000	6,400,000

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)	Nature ofassociation	Nature ofassociation
6. Addresses The addressesofpersonsnamedinthisformare: Name Saracen Mineral HoldingsLimited		Address
	Name	Address
	Saracen Mineral HoldingsLimited	Level 7, 350 Collins Street,MelbourneVIC 3000

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Signature

print name sign here

Rajan Narayanasamy capacity Secretary

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date 27 / 05 / 2008

DIRECTIONS

• (1) 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 annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to 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.

• (2) See the definition of “associate” in section 9 of the Corporations Law.

• (3) See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Law.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any 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

• (b) 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 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 Law.

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