GWR GROUP LIMITED — M&A Activity 2007

Dec 4, 2007

Unit 3, 136 Main Street, Osborne Park WA 6917 PO Box 1520, Osborne Park WA 6916 Phone: 08 9242 5111 Fax: 08 9242 5677 Email: admin@fairstarresources.com Web: www.fairstarresources.com

A.B.N. 38 115 157 689

ANOTHER COPY OF THIS NOTICE HAS BEEN LODGED WITH THE AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ON 5 DECEMBER 2007. THE AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION TAKES NO RESPONSIBILITY AS TO THE CONTENTS OF THIS NOTICE.

CORPORATIONS ACT 2001

To:

(1) The Directors Golden West Resources Limited (" GWR ") Suite 6, 136 Main Street OSBORNE PARK WA 6017 (2) Holders of fully paid ordinary shares in GWR

NOTICE OF VARIATION OF OFFER

In accordance with section 650D of the Corporations Act, Fairstar Resources Limited (" Fairstar ") hereby gives notice that:

• (a) Pursuant to section 650C of the Corporations Act, it proposes to vary each of the takeover offers for shares in GWR in respect of which a bidder’s statement dated 26 October 2007 was served on GWR on that date (as varied by a supplementary bidder's statement dated 13 November 2007) (the " Bidder's Statement ") by extending the period during which the Offers will remain open for acceptance until 7.00pm (Perth time) on 13 January 2008.

• (b) Accordingly, the Offers are hereby varied by:

  • (i) substituting “13 January 2008” for “13 December 2007” wherever appearing in the Bidder's Statement and the Acceptance Form; and

  • (ii) substituting "4 January 2008" for "5 December 2007" in section 10.5 of the Bidder's Statement.

Words and expressions defined in the Bidder’s Statement have the same meanings where used in this Notice.

DATED: 5 December 2007

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Kevin J Robertson Managing Director

being a director of Fairstar authorised to sign this Notice pursuant to a resolution passed at a meeting of the directors of Fairstar held on 5 December 2007.